PDF Ebook The Armchair Economist: Economics and Everyday Life
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The Armchair Economist: Economics and Everyday Life
PDF Ebook The Armchair Economist: Economics and Everyday Life
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Audible Audiobook
Listening Length: 9 hours and 20 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Tantor Audio
Audible.com Release Date: November 27, 2018
Language: English, English
ASIN: B07K8VCCQT
Amazon Best Sellers Rank:
It seems... he's really the 'Armchair' economist. I mean that he've been stuck in academia and doesn't have enough real life experience. He makes lots of false claims only based on old economic theory. The theories seems elegant and very logical, but the problem is the underlying assumptions are usually overlooked and the author really overlooks in the book. Maybe he doesn't want to talk about that since it's not helpful to substantiate his false arguments. I bought this book for my microeconomics class, but I really wanted to return this book if not the class.
A fun book about how economic principles affect our daily lives. My first thought was that the author's style is very similar to Malcolm Gladwell's books such as "The Tipping Point," "Blink," etc.--entertaining, easy-to-read, but very insightful based on real life stories and examples. Even if you don't like economics, this is a great way to get some exposure to the field.
I'm a college student and usually do not enjoy the bland textbooks teachers assign. This book, however, was amazing! I kept it after the semester instead of selling it and read it again :) Really helped me gain an intelligent grasp on economics. I was able to meet Landsberg in Dallas a year ago and he was also the nicest person ever! Most economists and academics are so pretentious but he was so willing to answer my questions and discuss policy issues.
Easy to read, interesting, a bit dated in some of its references but not bad.Some of his conclusions are a bit unexpected: if you drop a dollar bill you should let it go as your microscopic contribution to fighting inflation. His rationale is carefully laid out, but all along you know it is a tongue-in-cheek exercise and at the end he admits to picking his dollar back up anyway.The book is full of short stories and scenarios like this one, fun to read and think about.
I nearly returned the book the very moment I received it after purchase and flipping through the pages. I thought I had the wrong book because it was part of the set of textbooks my Professor in Economics in Agribusiness recommended and as an economic textbook, the first thing I expected to see was the usual demand and supply curves and equations and because they were conspicuously missing I thought I had the wrong book.Indeed it was worth recommending and reading. This is a book that took Economics to the next level; making effort to present Economic theories to the non-economists. It touches on real life issues and written in plain and clear English without any economic jargon which may be difficult to read and understand by non-economists.The writer made great efforts to argue and dispute several misconceptions in life by applying the realities and economic principles. Some of arguments and concerns on some issues were quite controversial and appear to be based on value judgements. As a result, one may not fully agree with them based on one's values; but in general, it was an interesting reading.I took special interest on the Environmentalist discussion on chapter 24. In as much as it sounded quite controversial to read because of strong advocacy for environment and conservationism (which I am a member), I saw the argument to be a great and interesting one. Indeed "if environmentalists were as passionate as they claim to be about conserving resources for future generations, I would expect more of them to oppose the taxation of capital income, the social security system and other policies that encourage consumption in the present". I found this interesting because truly, sometimes some advocacy concepts only take a parochial and narrow view on issues and that in total effect end up not education the masses well.This not withstanding, there were other sections where issues were disputed but the author did not do much job to let the alternatives be very clear enough. An example is 'why popcorn cost more at the movies' on chapter 16. In this section, the author could not make it clear to my understanding what alternative approach could maximize profit for both popcorn and movie ticket sales.In general however, this is a great book to read.
It is a book that should be read to complement and with caution, not to be taken as a text book. There are very good essays, as very bad ones. The book distils an over-the-top market fundamentalism. At the same time it ignores the most correct theories about markets. When the author discusses inflation and interest rates it does not mention Mises (Austrian School) at all. The simplifications make a caricature of economic theory, which may indoctrinate the reader. It ignores the role of the policy maker, the role of government and society in building solid institutions that ensure proper market operation. It mockers and treats with utter disdain features such as the right of literacy and school initiatives to teach about the relevance of environment preservation. It is a good book if the reader is already relatively informed, because it is important to get to know other opinions and find common ground. But for a first contact with economics it could be damaging. The way the writer makes his point on species extinction is repulsive. The book attempts to make economics simples, but it makes it short sighted to say the least. Market fundamentalism is a fanatical religion that resist facts such as the entrepreneurial participation of the United States government seeding technologies like the internet, airspace; it overlooks South Korea development, and China's. Should the U.S. government slashes tuition financing, all those market fundamentalists would be forced to live closer to reality and write something about it. If really free markets come into existence one day, they would close economics departments across the country, laying off free market fundamentalists. Now that would be "efficiency".
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