Recently i finished Freedomnomics by John Lott Jr. Freedomnomics is a book about various economics situations. The subtitle of the book is “Why the Free Market Works and Other Half-Baked Theories Don’t.” This is basically the thesis of the book; Lott discusses why he thinks the American free market works and why various theories don’t. Freedomnomics is also a rebuttal to Freakonomics.
In this book, John Lott discusses oil and cheaper drugs, and how higher prices help the economic. His theory is that because people pay higher prices for products, oil, drugs, and so on when other’s are paying less, they cover the cost of research and development. through this, he explains how price discrimination is a good thing.
He also discusses how reputations keep businesses and politicians honest, and explains how abortion is not the real cause of decrease in crime, but that the death penalty, law enforcement, and concealed-carry laws are. He also touched on voting, voting fraud, and other political topics. For the most part he demonstrated these economic principals accurately and well, though I would still recommend you read by Freedomnomics and Freakonomics to get an objective picture. The one thing that Lott doesn’t really cover is Freakonomics, which it theoretically is a rebuttal to. It discusses the book and it’s topics, but not extensively as one would assume.
Overall, Freedomnomics was an enjoyable economical book that I’d recommend to anyone and everyone.