Tuesday

Economics in One Lesson by Henry Hazlitt and Uncommon Sense: Economic Insights, from Marriage to Terrorism by Becker and Posner

This book can be summarize in one sentence i.e The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."

The author is definitely the advocate for free market and Laissez-faire type of economy where there is minimal intervention from the government. Throughout the book, the author held government and its policies responsible for all the financial mess we are in right now.

In accordance with author's premise financial deficit, extravagant tax burden, minimum wages laws, government sponsored inflation, tarrifs and Keynesian theory is responsible for troublesome and uncertain era we live in.
Though few of his ideas are very compelling and to the point , however, I feel author gets too tough on government and Keynes that he negates and dismisses all other theories and ideas which are indeed important going forward.



 "Uncommon sense: Economic Insights, from Marriage to terrorism" is an array of exhaustive and extensively researched essays on various topic ranging from marriage to economy. The authors don't needs any introduction as one is Nobel prize winning economist ( Gary Becker) and another is US Court Judge (Richard Posner).

Through out the book both the authors put up their unique perspective on issues and problems which are highly debatable and have no clear answers. I must admit few of solutions suggested by authors are very innovative and can be clear answer to those problems.

Beginning chapters are monotonous but once you move to later section it gets interesting and appealing.
Becker and Posner blog- http://www.becker-posner-blog.com/