This book is geared to the average citizen with little or no economics background who would like the tools to think critically about economic issues. Many of today’s economic issues are obscured by their inherent complexity and the often confusing and conflicting views coming from political talking heads. Sowell, a leading conservative economist and senior fellow at the Hoover Institution, seeks to alleviate this confusion.
He begins by elucidating the differences between politicians, who are often compelled by political considerations to act for the short term, and economists, who are more concerned with long-term ramifications. Sowell then focuses on the application of economics to major contemporary real-world problems—housing, medical care, discrimination, and the economic development of nations.
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"I have been through this book twice now. I think it should be required reading for EVERY american voter as well as any voted into government office, whether it be local or national. Dr. Sowell lays it all on the line in clear, concise, layman's terms what is wrong with the way we currently appoach economic issues in this country today and provides us with the tools to create the insight to fix that at the election level."
— Larry (5 out of 5 stars)
“Applied Economics…is simply the must-have field guide to our economic landscape.”
— Jonah Goldberg, New York Times bestselling author“Applied Economics is full of…good sense—and serves as an excellent defense against the counterproductive promises of political candidates.”
— Wall Street Journal“The great achievement of Sowell’s book is its simplicity. His writing is easy and lucid, an admirable trait considering the topic at hand…As a basic primer for the economically perplexed, this volume serves very well.”
— Publishers Weekly“The great achievement of Sowell’s book is its simplicity.”
— Publishers Weekly" Has its flaws, but very few books like this one describe how certain policies at all levels of government often fail to look past the short term or fail to account for unintended consequences. "
— Steve, 2/18/2014" I have read many books on economics; this one largely shaped my thinking. The premise is simple everything you touch has consequences. Some of these consequences are big and some are small some are intended and some are unintended. It has become apparent, everyday to me, who is informed and who is not. Because the uninformed never think beyond stage one and support policy that is contrary to their own interests. "
— Dave, 2/5/2014" This is a very readable book about economics with a lot of real-life examples. The chapters about medical care and housing were especially relevant. "
— Lisa, 2/4/2014" A thought provoking book that gets just a bit tedious at times. Still a good book that I am glad I read. After the introduction and first chapter or two you could just choose the topics in which you have the most interest. I especially enjoyed the gun control and housing sections. The book explores the unintended or "stage two" or "stage three" consequences of political responses to problems and how those consequences aren't realized for years. By then the consequences are frequently blamed on something else. "
— Wayne, 1/20/2014" First Bastiat writes about what is seen and not seen, then Hazlitt expands this idea in Economics in One Lesson; now Thomas Sowell writes a contemporay explanation of these basic ideas in Applied Economics. All good economists think beyond stage one. Unfortantely "good" politicians don't, and they know most voters don't (see Bryan Caplan's, Myth of the Rational Voter). "
— Lynn, 1/17/2014" In this election year cycle, a must read! "
— Ryan, 1/9/2014" Applied Economics "
— Griff, 9/15/2013" Everyone in America should read this book. It is simple yet its message is of utmost importance. Sowell explains some of the hottest topics in the political arena today including education and healthcare and what market solutions could provide. "
— Cortney, 4/7/2013" Good book, expands on Basic Economics without being putting the reader in over their head. "
— Mike, 11/21/2012" i try to read as much as possible by this author, again i love learning about economics "
— Carly, 10/12/2012" This should be mandatory reading for high school students. It should be read before given the right to vote. "
— James, 10/6/2012" Insightful wisdom on a smorgasbord of issues facing the US right now. The chapter on medical care is worth the price alone and would save us trillions if politicians read and understood it. "
— Jerry, 9/15/2012" Do any of us think beyond Stage One on a regular basis? Excellent look at the long term consequences of ideas that seem good but don't really turn out that way. "
— Angelino, 8/14/2012" Interesting book, particularly the chapters about the economic conditions that led to the so-called subprime mortgage debacle, and how economic policies are affected by immigration. "
— Theresa, 4/4/2012" conservative/libertarian views of policy issues. good to know the other side. book was not as difficult to understand. helpful. will use in sw 525 "
— Jose, 12/16/2011" This is a good book with good information. Although I doubt Sowell means to patronize, his tone at times seems patronizing. He also talks about "thinking beyond stage one" which becomes annoying after reading so many times. "
— Matt, 9/28/2011" Got it free from Thomas Sowell himself! Will be EXTREMELY exciting to read! First chapter is down, and loving every minute of it! "
— Jeff, 8/26/2011" This should be mandatory reading for high school students. It should be read before given the right to vote. "
— James, 3/11/2011" Highly recommend all Sowell books. "
— Nedland, 12/11/2010" Good book, expands on Basic Economics without being putting the reader in over their head. "
— Mike, 7/12/2010" Interesting book, particularly the chapters about the economic conditions that led to the so-called subprime mortgage debacle, and how economic policies are affected by immigration. "
— Theresa, 12/12/2009" This book forcefully fulfills its goal of showing that most of the fallacious economic arguments put forth by politicians, the media, and issue groups can be debunked simply by thinking beyond the immediate effects upon a single group. "
— Dwain, 12/5/2009" conservative/libertarian views of policy issues. good to know the other side. book was not as difficult to understand. helpful. will use in sw 525 "
— Jose, 8/10/2009Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. He is the author of dozens of books and the recipient of various awards, including the National Humanities Medal, presented by the president of the United States in 2003.
Brian Emerson is an actor and technical director with a long career in the Washington, DC, and Baltimore areas.