PPOG 502 Book Review 2
PPOG 502 Book Review 2 Liberty University
After reading the assigned chapters in the Gwartney et al. and Sowell textbooks, you will write 2 reviews summarizing and evaluating the assigned chapters in each book. You may include summaries and evaluation of unassigned material at your own discretion.
Spend approximately one third of each paper summarizing the book, another third evaluating the book using economic thinking and Christian ethical principles, and the last third applying the readings from the book to current public policy problems. Reviews must be in current Turabian format and must include complete citations of the textbook and any additional sources. A minimum of 2 scholarly sources must be cited according to current Turabian format. No more than 20 percent of the reviews may consist of direct quotations from the reviewed book. Reviews below the minimum length of 1,200 words or over the maximum of 1,500 words will be subject to a reduction in points.
Preview:
Thomas Sowell’s book, APPLIED ECONOMICS, is about basic economics. The book informs on political processes that influence economic policies. It analyzes the current situation of the economy of the world and suggests various ways that can improve the world’s economy. In this book, Sowell uses simplification to explain complex principles of economics. The book neither uses graphs, equations nor jargons[1]. Instead, it uses case studies to create a capturing effect amongst its readers. Sowell uses this book to create a comparative analysis that compares the performance of the market to government economic policies.
The book recognizes individual desires to have more than they can produce. It is because of these desires that trade exists. Trade necessitates choices because we cannot have all that we want at the same time. Individuals, societies, and governments must make choices. When making choices, we sacrifice one item to obtain something else. Choices are difficult to make, but they are an indispensable part of our lives. The author emphasizes on the idea of decision making in the chapters on labor, housing, and medical care markets. He tries to impart knowledge about the application of economic principles to real-world problems to non-economics professionals.