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Posts Tagged ‘Thomas Sowell’

Thomas Sowell.  The Quest for Cosmic Justice.  New York, NY: Free Press, February 5, 2002. 224 pp.

5 out of 5

Purchase: Amazon

Have you notice a redefinition of “justice” today among those who are advocates of Social Justice?  Even if you think this doesn’t interests you it is definitely affecting you and costing you directly and indirectly today by the actions of its advocate.  These ideas though are nothing new and over the decades of ministry in college campuses I see these ideas discussed in Academia is now being yelled out aloud literally and the consequences being reaped on the streets of America in 2020.  This book was originally published in 1999 but reading this in 2020 I was blown away how relevant it is twenty one years later.  The observations that the author made and also his refutations is very powerful and I love how factual and data driven the author is.  This is probably the most important book I read in 2020 and I’m surprised why more people don’t know about this book.  Out of the six books I have read from author Thomas Sowell this to me is one of the best book I have read from him and it is not only compelling but reading this book is a training session of how to think soundly in the realm of social sciences, economics and discussions about what is justice.

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The Housing Boom and Bust

 (Available on Amazon)

I learn tremendously every time I read the works of economist Thomas Sowell. This book is no exception. Here Sowell examines the recent housing boom and bust that happened in the late 2000s. Contrary to the opinions of liberal lawmakers and liberal pundits, the burst of the housing bubble is not a case of capitalism left unchecked; the book demonstrate that the boom and bust of the housing market is the result of government regulation and intervention. Sowell begins by documenting how zoning laws, open space laws and other host of regulations has the effect of rising costs of housing; the more ordinances a place has the more the cost goes up while places that has less arbitrary regulations tend to have lower costs of buying a home. The book also examine fiscal policies and government intrusion that forces financial institutions to make risky sub-prime loans; Sowell argues that this does no good to anyone, not to the ones who are borrowing (loses the house, ruining their credit, declaring bankruptcy), the lender (banks are not in the business of maintaining foreclosed homes), the market, other home buyers (the burden of costly risks of sub-prime borrowers end up being distributed to them) and tax payers. The book does a good job explaining the complexity of the market in clear to understand term. This book does a good job documenting how politicians doesn’t help and often the ones who are railing against business and banks for the housing bubble burst are themselves unknowingly the ones who are responsible for policies that led to the fiasco. Highly recommended!

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