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Applied Economics

Thinking Beyond Stage One: Second Edition

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Applied Economics

By: Thomas Sowell
Narrated by: Bill Wallace
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About this listen

 Applied Economics is an accessible guide to how our economic decisions develop. It explains the application of economics to major world problems, including housing, medical care, discrimination, and the economic development of nations. The book is based on an international view of economics, includes examples from around the world, and shows how certain incentives and constraints produce similar outcomes among disparate peoples and cultures.©2009 Thomas Sowell (P)2009 Blackstone Audio, Inc. Economics Refugee Business Imperialism Economic Inequality

Critic Reviews

"Applied Economics...is simply the must-have field guide to our economic landscape." (Jonah Goldberg, Los Angeles Times columnist)
"Applied Economics is full of...good sense - and serves as an excellent defense against the counterproductive promises of political candidates." ( Wall Street Journal)

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Economics

Who thought economic and the explanations of government policy and their economic impacts could be so interesting. Credits to the author and narrator for making it so.

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Required Econ1001 Reading (Listening)

It's best if you listen to other writings by Thomas Sowel with the same interest. The concepts are interconnected, coherently developed and very practical in the eyes of an undergraduate economist as well as a general reader.

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interesting to listen to... up to a point

I enjoyed the book intially. some really interesting takes on some controversial topics, calmly explained and supported. However, after several chapters the author's bias become all too clear with every regulation resulting in negative outcomes and an overall, and thinly veiled, trend that everything should be market driven with no controls.

This would have been a more interesting read if the author had applied some stage 2 thinking to alternatives (apart from zero controls) that could have resulted in better outcomes but also being sensitive to the reasons and causes for the need for some level of regulation in the first place.

All in all it is a deft illustration of why economists should always be advisors and never leaders!

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A utilitarian opinion piece

Worth a listen to get an understanding of economic thinking, but take it with a big grain of salt.

Early on it's quite a decent textbook, and illustrates the importance of employing basic economic concepts (incetives, supply & demand, costs, etc.) to political decision making.

A few chapters in though, it just becomes an almost completely blind propaganda piece for utilitarian capitalism with evident gaping holes in the logic of its underlying assumptions.

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