Freedomnomics
Encyclopedia
Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't is a book by John R. Lott, Jr., author of More Guns, Less Crime
and The Bias Against Guns
. Freedomnomics takes an economic look at the effects of the free market, and presents some arguments against those found in Freakonomics
by Steven D. Levitt and Stephen J. Dubner
.
, abortion
, tax
es, government
, crime
, illegal immigration
, and the economy
.
actually helped mitigate the damage done by the hurricane, and how government price controls, like those of the 1970s, would have made life much harder for the victims.
Lott asserts that price controls on drugs would destroy medical innovation, not only for the United States, but also those countries who are dependent on it for new drugs, such as Canada.
; Kelley Blue Book
New, Used, Excellent Condition Trade-in, and Private Party prices; and Yahoo!
Auto Certified Used prices for 55 certified used cars (15 with less than 5,000 miles and 40 with about 15,000 miles). Lott demonstrates that the cars with 15,000 miles on them (about a year's worth of driving) are substantially less valuable than the relatively new cars with less than 5,000 miles. A few of the cars with less than 5,000 miles were actually worth more than MSRP
.
s, thereby increasing the occurrence of negative campaigning
.
ing to practicing law. He points out that even though he has been a university professor for many years, he is not legally able to teach at public high schools in most states because of government regulations.
More Guns, Less Crime
More Guns, Less Crime is a book by John Lott that says violent crime rates go down when states pass "shall issue" concealed carry laws. He presents the results of his statistical analysis of crime data for every county in the United States during 18 years from 1977 to 1994...
and The Bias Against Guns
The Bias Against Guns
The Bias Against Guns: Why Almost Everything You've Heard About Gun Control Is Wrong is a book by John Lott, following up on his controversial More Guns, Less Crime. It is intended to reach a broader audience than its highly technical predecessor...
. Freedomnomics takes an economic look at the effects of the free market, and presents some arguments against those found in Freakonomics
Freakonomics
Freakonomics: A Rogue Economist Explores the Hidden Side of Everything is a 2005 non-fiction book by University of Chicago economist Steven Levitt and New York Times journalist Stephen J. Dubner. The book has been described as melding pop culture with economics, but has also been described as...
by Steven D. Levitt and Stephen J. Dubner
Stephen J. Dubner
Stephen J. Dubner is an American journalist who has written four books and numerous articles. Dubner is best known as co-author of the pop-economics book Freakonomics: A Rogue Economist Explores the Hidden Side of Everything and its 2009 sequel, SuperFreakonomics.-Background:His parents were...
.
Topics
Lott makes an incentive-based assessment of academiaAcademia
Academia is the community of students and scholars engaged in higher education and research.-Etymology:The word comes from the akademeia in ancient Greece. Outside the city walls of Athens, the gymnasium was made famous by Plato as a center of learning...
, abortion
Abortion
Abortion is defined as the termination of pregnancy by the removal or expulsion from the uterus of a fetus or embryo prior to viability. An abortion can occur spontaneously, in which case it is usually called a miscarriage, or it can be purposely induced...
, tax
Tax
To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...
es, government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
, crime
Crime
Crime is the breach of rules or laws for which some governing authority can ultimately prescribe a conviction...
, illegal immigration
Illegal immigration
Illegal immigration is the migration into a nation in violation of the immigration laws of that jurisdiction. Illegal immigration raises many political, economical and social issues and has become a source of major controversy in developed countries and the more successful developing countries.In...
, and the economy
Economy
An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area...
.
Academia
As an example of incentives, Lott describes an experience at Montana State University when the state proposed to remove property taxes. He claims that university professors knew that removing the tax was a good economic decision, but opposed the law because it had the potential to reduce government funding to their university.Gas prices
Lott argues that oil and gas companies have incentives to stabilize the prices of gas, which benefit the consumer in the long run. He asserts that the increases in gas prices during Hurricane KatrinaHurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
actually helped mitigate the damage done by the hurricane, and how government price controls, like those of the 1970s, would have made life much harder for the victims.
Drug prices
Lott makes an argument as to why he believes Americans pay more for medications than other countries. The high prices that Americans pay for drugs pays for the research that was done to invent those drugs. If Americans did not pay high prices for drugs, he claims, then no new drugs could be created.Lott asserts that price controls on drugs would destroy medical innovation, not only for the United States, but also those countries who are dependent on it for new drugs, such as Canada.
Used car vs. new car prices
Lott argues that it is only a common myth that a new car loses 15% - 25% of its value when it first leaves the lot. He backs up this argument through analysis of new and certified used car prices using manufacturer MSRPSuggested retail price
The manufacturer's suggested retail price , list price or recommended retail price of a product is the price which the manufacturer recommends that the retailer sell the product. The intention was to help to standardise prices among locations...
; Kelley Blue Book
Kelley Blue Book
Kelley Blue Book, headquartered in Irvine, California, is the United States' largest automotive vehicle valuation company. The company's website is a source for new and used vehicle pricing and information...
New, Used, Excellent Condition Trade-in, and Private Party prices; and Yahoo!
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
Auto Certified Used prices for 55 certified used cars (15 with less than 5,000 miles and 40 with about 15,000 miles). Lott demonstrates that the cars with 15,000 miles on them (about a year's worth of driving) are substantially less valuable than the relatively new cars with less than 5,000 miles. A few of the cars with less than 5,000 miles were actually worth more than MSRP
Suggested retail price
The manufacturer's suggested retail price , list price or recommended retail price of a product is the price which the manufacturer recommends that the retailer sell the product. The intention was to help to standardise prices among locations...
.
Campaign finance reform
Lott claims that laws which limit money donated to politicians gives an advantage to incumbents. He also asserts that these laws redirect money from politicians to political action committeePolitical action committee
In the United States, a political action committee, or PAC, is the name commonly given to a private group, regardless of size, organized to elect political candidates or to advance the outcome of a political issue or legislation. Legally, what constitutes a "PAC" for purposes of regulation is a...
s, thereby increasing the occurrence of negative campaigning
Negative campaigning
Negative campaigning, also known more colloquially as "mudslinging", is trying to win an advantage by referring to negative aspects of an opponent or of a policy rather than emphasizing one's own positive attributes or preferred policies...
.
Reputation
Lott makes an argument that reputations are an important, and often overlooked, asset in the economy. He gives examples of how hurt reputations can be more damaging than penalties imposed by law.Professional licensing
Lott asserts that professional licensing prevents the highest quality entrants from entering professions from barberBarber
A barber is someone whose occupation is to cut any type of hair, and to shave or trim the beards of men. The place of work of a barber is generally called a barbershop....
ing to practicing law. He points out that even though he has been a university professor for many years, he is not legally able to teach at public high schools in most states because of government regulations.