《Bran-New + Fully Revised & Updated + Economics Principles Underlying Daily Life & Experience》Steven E. Landsburg - THE ARMCHAIR ECONOMIST : Economics and Everyday Life
This New York Times bestseller in paperback edition is a bran-new book and nicely wrapped with protective book-wrapper. The original new book is sold at usual price RM46.98. Now here Only at RM18. The extensively revised and updated edition of Steven Landsburg's hugely popular book ：The Armchair Economist The Armchair Economist: Economics and Everyday Life is an economics book written by Rochester professor of economics Steven Landsburg. The first edition appeared in 1993. A revised and updated edition appeared in May 2012. The underlying theme of the book, as Landsburg states on the first page, is that "Most of economics can be summarized in four words: People respond to incentives." With this apparently innocuous observation, Landsburg discusses some unexpected effects of various policies such as automobile safety legislation and environmental policies. In this revised and updated edition of Steven Landsburg’s hugely popular book, he applies economic theory to today’s most pressing concerns, answering a diverse range of daring questions, such as: ➽ Why are seat belts deadly? ➽ Why do celebrity endorsements sell products? ➽ Why are failed executives paid so much? ➽ Who should bear the cost of oil spills? ➽ Do government deficits matter? ➽ How is workplace safety bad for workers? ➽ What’s wrong with the local foods movement? ➽ Which rich people can’t be taxed? ➽ Why is rising unemployment sometimes good? ➽ Why do women pay more at the dry cleaner? ➽ Why is life full of disappointments? Whether these are nagging questions you’ve always had, or ones you never even thought to ask, this new edition of The Armchair Economist turns the eternal ideas of economic theory into concrete answers that you can use to navigate the challenges of contemporary life. Landsburg demystifies the economics of everyday behavior in these diverting if not always persuasive essays. Why don't promoters of sell-out rock concerts raise the advance ticket price? Because, suggests the author, promoters want the good will of teenage audiences who will buy lots of rock paraphernalia. Why are executives' salaries so high? One reason, opines Landsburg, is that stockholders expect managers to take risks, and well-heeled executives are more likely to do so. Associate professor of economics at the University of Rochester in New York, Landsburg applies his counter-intuitive analyses, with mixed results, to everything from taxes, auctions, baseball and the high price of movie theater popcorn to government inefficiency, the death penalty, environmentalism (which he attacks as a dogmatic, coercive ideology) and NAFTA. In spite of this, there are many astute pieces of analysis in the book, so it is valuable for more than just the insight it gives into the thinking of economists. The section near the end on "How markets work", from which the quotation at the start of this review is taken, is superb, and is alone worth the cover price. The chapter in that section on "Courtship and collusion" examines what is in effect the Prisoners' Dilemma problem from an economic mindset. (A consequence of it would seem to be that people should be compelled to vote, the opposite of a conclusion reached in one of the earlier and more evangelical chapters.) The Armchair Economist was a very revealing and incredibly interesting book on how economics affects our daily lives. You are able to take in a lot of new knowledge from this book, and it really provides excellent descriptions and examples to help you understand concepts and it even teaches you how to apply them to different areas of life. This book proves that economics isn’t just boring numbers and algorithms, but instead it involves a lot of philosophy and theory that doesn’t necessarily require calculus, (though in some cases, it could). Landsburg is also very witty in how he dissects where others have gone completely wrong on economics, for example he points out multiple economic blunders in The Wall Street Journal, The New York Times, and readily describes his anger for these terrible misconceptions. He said that he even went so far as to create a collection of idiotic errors and he keeps it in an ever-growing file on his computer. This book provides the foundation on which one can build additional insight and theory. This book is great for anyone looking for, (a sometimes complicated), description of key economic ideas. It can guarantee that any new reader to economics will be sucked into the topic after reading this book unless they flat-out reject these new ideas based on their original beliefs-(which I find to be a very common flaw that humans tend to obtain as they solidify their views). In short, this is a fascinating, infuriating book. In spite of its absurdities it should be read by anyone who wants to know how economists think about the world. About the Author Steven E. Landsburg is a professor of economics at the University of Rochester. He is the author of More Sex Is Safer Sex and The Big Questions. He has written for Forbes, The Wall Street Journal, and Slate. He lives in Rochester, New York.
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