Friday, July 25, 2008

Applied Economics

Last month I read Thomas Sowell's book, Applied Economics as my reading list choice.

I've read quite a few of Mr. Sowell's books on various topics and found them to be well-written and containing good arguments for his points. This one was just as good as the others, and a pleasure to read. It goes beyond his book Basic Economics in applying economic principles to actual events and policies. The economic effects of policies and laws regarding housing, medical care, discrimination, and a few other areas are detailed in easy-to-understand chapters. This is not a textbook for economists, but an enjoyable read for the average citizen. And as always, Mr. Sowell is kind, well-reasoned and sometimes humorous.

I like his remarks in the preface where he writes:

"It is helpful to have something of a sense of humor when considering economic policies. Otherwise, the study of these policies and their often painful unintended consequences can get to be too depressing or you can get too angry. Save your anger until you are in the voting booth on election day. In the meantime, enjoy the process of getting more understanding of issues and institutions that affect your life and the future of the country."

Well-said, isn't it?

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