Applied Economics

In 'Applied Economics: Thinking Beyond Stage One', Thomas Sowell examines the application of economics to contemporary issues such as housing, medical care, discrimination, and national economic development.

The book emphasizes the importance of considering both immediate and long-term effects of economic policies, highlighting how similar incentives and constraints lead to similar outcomes across different cultures.

Sowell critiques policies that often fail to achieve their intended goals due to a lack of foresight beyond immediate results.