Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't (Hardcover)
by John R. Lott Jr., Ph.D.
"Freedomnomics" is everything you wanted to know about the world but didn't know economics could tell you. Economist and bestselling author John Lott shows the logic of free-market economics through clear and hard-hitting examples.
Are free-market economies really based on fleecing the consumer? Is the U.S. economy truly just a giant free-for-all that encourages duplicity in our everyday transactions? Is everyone from corporate CEOs to your local car salesman really looking to make a buck at your expense?
In "Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't," economist and bestselling author John R. Lott Jr. answers these and other common economic questions, bravely confronting the profound distrust of the market that the bestselling book "Freakonomics" has helped to popularize. Lott shows how free markets liberate the best, most creative and most generous aspects of our society – while efforts to constrain economic liberty, no matter how well-intentioned, invariably lead to increased poverty and injustice. Extending its rigorous economic analysis even further to our political and criminal justice systems, "Freedomnomics" reveals:
- How the free market creates incentives for people to behave honestly
- How political campaign restrictions keep incumbents in power
- Why legalized abortion leads to family breakdown, which creates more crime
- Why affirmative action in police departments leads to higher crime rates
- How women's suffrage led to a massive increase in the size of government
- Why women become more conservative when they get married and more liberal when they get divorced
- How secret ballots reduce voter participation
- Why state-owned companies and government agencies are much more likely to engage in unfair predation than are private firms
- Why the controversial assertions made in the trendy book "Freakonomics" are almost entirely wrong
Entertaining, persuasive and based on dozens of economic studies spanning decades, "Freedomnomics" not only shows how free markets really work but proves that, when it comes to promoting prosperity and economic justice, nothing works better.
“I just finished reading John Lott's marvelous and entertaining book ‘Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't.’ It is very well-written and it really reminds you of what an extraordinarily creative and interesting thinker Lott is. Much of the book is a translation of his many papers in different areas into prose and concepts accessible to general readers. … Overall, I thought this was a really fun and interesting book, one of those ones that has you saying every page or two ‘Hmm, I didn't know that’ or ‘I never thought of it that way.’ For those who like this general genre of economic puzzle-solving (which I do), I highly recommend it.” – Todd Zywicki, The Volokh Conspiracy
“’Freedomnomics’ takes about 50 of the commonly accepted ideas about the failure of the market system, and shows that in each case the market has solved the problem or that government intervention has made the problem worse. Lott points out that the value of reputations is paramount for a company, and that the competition to maintain a good reputation solves almost all the areas where a naive economist might think that the consumer gets cheated. The thing that protects the consumer is not the intrinsic honesty of the firm, but the reputation a firm seeks to maintain. … John Lott has encapsulated in a few hundred pages, all the reasons that the free market does work, and repeatedly destroys the arguments of Freakonomics and most of the calls for intervention that we find in empirical studies and common sense economics.” – Victor Niederhoffer, Daily Speculations
About the Author
John R. Lott Jr. is an economist who has taught at the University of Chicago, Yale University, Stanford University, UCLA, Wharton Business School and Rice University. He was also the chief economist at the United States Sentencing Commission during 1988 and 1989. He received his Ph.D. in economics from UCLA in 1984.
Lott has published over 90 articles in academic journals as well as in The Wall Street Journal, The New York Times, the Los Angeles Times, USA Today and the Chicago Tribune. He is also a bestselling author whose books include “More Guns, Less Crime” and “Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't.”
- Hardcover: 256 pages
- Publisher: Regnery Publishing, Inc. (June 4, 2007)
- Language: English
- ISBN-10: 1596985062
- ISBN-13: 978-1596985063
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