Friday, November 2, 2007

Another Review of Freedomnomics

From the World Magazine:

That is why I salute John Lott's Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't (Regnery, 2007), a voice of reason in a swamp of interventionist megalomania that threatens to push the land of the free down the road of the late Roman Empire.

Freedomnomics, translating economics into regular English, shows that bureaucratic and judicial attempts to correct the market restore feudalism and hurt the poor. Corporate scandals that lower a firm's reputation create disincentives to cheat and thus become part of a self-correcting market mechanism. Lott also discerns the true link between legalized abortion and crime: In opposition to the best-selling book Freakonomics, he shows that easy access to abortion leads to change in attitudes to premarital sex, more out-of-wedlock children, family breakdown, and thus to more crime. . . . .

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