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A review by reaganwaggoner
Applied Economics: Thinking Beyond Stage One by Thomas Sowell
4.0
Straight up common sense - highly recommend all around. I look forward to reading more of his books (he only has about a thousand)
I took a ton of notes, but I don’t feel like transcribing all of them. Key takeaways - always think beyond stage one. It’s not just what will happen next. It’s what happens after that and after that and so forth
Four things happen following a price control:
1) increased use of the product
2) reduced supply
3) quality deterioration
4) black markets
So well done - covering healthcare, economics, discrimination, etc etc
I took a ton of notes, but I don’t feel like transcribing all of them. Key takeaways - always think beyond stage one. It’s not just what will happen next. It’s what happens after that and after that and so forth
Four things happen following a price control:
1) increased use of the product
2) reduced supply
3) quality deterioration
4) black markets
So well done - covering healthcare, economics, discrimination, etc etc