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The Armchair Economist: Economics and Everyday Life
 
 
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The Armchair Economist: Economics and Everyday Life (Paperback)

by Steven E. Landsburg (Author) "Most of economics can be summarized in four words: "People respond to incentives ..." (more)
3.7 out of 5 stars See all reviews (6 customer reviews)
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Product details

  • Paperback: 251 pages
  • Publisher: Simon & Schuster; New edition edition (6 Feb 1995)
  • Language English
  • ISBN-10: 0029177766
  • ISBN-13: 978-0029177761
  • Product Dimensions: 20.2 x 14 x 1.6 cm
  • Average Customer Review: 3.7 out of 5 stars See all reviews (6 customer reviews)
  • Amazon.co.uk Sales Rank: 132,140 in Books (See Bestsellers in Books)

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Product Description

Product Description
Most people associate economics with larg-scale wonders like the stock-market, big business, and international trade. Most people also assume that economists are dismally technical. Stephen Landsburg attempts to prove them wrong. He shows how the laws of economics can reveal themselves in surprising and humorous ways. He demonstrates that, no matter what the endeavour, people respond to incentives in understandable, if not always predictable ways. By illustrating how economists think about daily experience, he lays the basis for a richer appreciation of the full range of economic activity. In this guided tour of the familiar, through an unfamiliar lens, Landsburg explains many of the key issues of economics in chapters that read more like detective stories than textbook lessons.
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The Armchair Economist: Economics and Everyday Life
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Customer Reviews

6 Reviews
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3 star:    (0)
2 star:
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Average Customer Review
3.7 out of 5 stars (6 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
25 of 25 people found the following review helpful:
5.0 out of 5 stars Deep arguments lightly presented, 7 Jun 2006
A joy to read! Insightful, yet beautifully simple, arguments for many key economic ideas, such as why prices are good and arguments in favour of free trade. Some of the arguments are counter-intuitive, such as seatbelts killing people and recycling paper being bad for trees, but are great truisms which make you think differently and more lucidly.

I also like Landsburgh's modesty. For example, he admits that, despite being a top-notch economist, he cannot satisfactorily explain why popcorn is so expensive at cinemas!

And I like his sense of humour -the book is full of jokes which add enormously to the pleasure of reading it. Great for both economists and non-economists who want an introduction to the subject.
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7 of 7 people found the following review helpful:
2.0 out of 5 stars Too cocky by half, 16 Jun 2008
Parts of this book delighted me and parts infuriated me. From a conventional economic perspective, Landsburg does a standard demolition job on many popular misconceptions about how markets and economies work. On the other hand he never questions the validity of the conventional economic theories on which he bases what he says. Worse, his cocksure tone belies what I suspect are some stark intellectual limitations.

Part VI, entitled, "The Pitfalls of Science", is IMO one of the most revealing in the book. In it Landsburg reproduces the text of a letter he sent to the organiser of his daughter's group at a Jewish Community Centre. The letter complained that the group was indoctrinating his daughter in environmentalism. He writes of himself and his wife,

"...We are not environmentalists. We ardently oppose environmentalists. We consider environmentalism a form of mass hysteria akin to Islamic fundamentalism or the War on Drugs. We do not recycle. We teach our daughter not to recycle. We teach her that people who try to convince her to recycle, or who try to force her to recycle, are intruding on her rights."

This sadly typifies the mentality of the many economists who ignore all biophysical considerations in economics. His daughter's rights won't count for much on the trashed planet that people with his attitudes are likely to create.

I found myself asking how much weight I should attach to Landsburg's other arguments when his views on environmentalism expose such addled thinking.
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35 of 47 people found the following review helpful:
5.0 out of 5 stars Challenges the lay person's knowledge of Economics, 4 Jun 2003
By M. Adamou "Marios" (UK) - See all my reviews
(REAL NAME)   
If you are like me, naive in the field of economics pick up this book. It has no tables or other confusing 'aids' and will take you through a series of essays on everyday economic matters. It is easy to read and the author knows how to keep you hooked. Overall, a good use of your time.
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Most Recent Customer Reviews

4.0 out of 5 stars Worth reading, but not necessarily agreeing
The Armchair Economist is clearly written and interesting, but to me it's real value is in understanding how "supply-side" economists think. Read more
Published 29 days ago by G C W S Wheeler

4.0 out of 5 stars A little caustic, but quite interesting
If you're anything like me, you enjoy reading interesting subject matter written by a passionate author, and whilst this book certainly counts as such, it isn't without its flaws... Read more
Published 9 months ago by R. Hill

2.0 out of 5 stars Interesting, but...
I liked the book, and it did introduce me to how an economists thought process churns away.

Whilst it was good that he simplified his illustrative models for everone... Read more
Published on 29 Jun 2007 by Mr. T. D. Bates

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