Book Report on Freedomnomics by John Lott Essay

The effective focussing of the scotch saying of the country is always valuable and necessary to batten down the financial stability of the nation and its people. As much(prenominal), it is empirically significant that the scrimping is salve from any manifestation of restriction for it to efficiently operate. Such mark off is the underlying rationale and pr make forice behind what is called a vacate market place. sparing let offdom is attributed to the flexibility and approximately importantly, immunity of the economic field from demarcations.In carrying-out such ideal situation, the reality that palliate parsimoniousness works near to the advantages of both the people and nation is established. With such clear indications, it is so demand that the concept of impeccant market is back up because it definitely works outflank for the population and the country in general. The said main thesis concerning the prescript and practices of loose market was what effic iently exemplified by the halt Freedomnomics written by Economist and acclaimed author John Lott.In the said discussion, Lott (2007) opened the minds and police wagon of the public about the necessity of a complimentary market characterise receivable to its many relevant advantages both for the people and societies. In doing so, the give-and-take not only provided its readers with a glimpse about the nature and components of free market but also allowed the public to realize its benefits. To support the books thesis, Lott based his premise from several case studies which all pointed to the import of free market thus he called for and emphasized the need for economic freedom (Lott, 2007).In supporting his main theory on free market, Lott stressed major points that showed how free market or liberated economy paved the way for the eventual successful handling of the separate aspects of the nine such as the political system and the structure of the criminal judge as well as e ven the ethical or virtuous features of a country equivalent the United States. It is in this position therefore that the book ultimately succeeded because it was able to make way for the publics recognition that free market encompassed not only the economic aspect of the country but its former(a) social components as well.Hence, there is indeed a need to adhere to and uphold the free market principle in order to achieve the nations improvement. The Free marketplace Premise In Freedomnomics, Lott effectively explored on the premise of free market-its nature, components, practices and most of all, its significance to people and the society. Citing the notion imparted by Adam Smith, the author outrightly presented that from such principle, where a nations economy just like the U. S.is free from any form of restriction, the free market works (Lott, 2007, p. 1). Taking into reflexion the results of a number of economic-related case studies which he did on his whole c areer, the rel evance of the principle of free market was highlighted by the author through the book. Additionally, the books point of view evolved around and was analyzed according to the philosophical system that a restricted kind of economy, such as the one manifested by communism, is undeniably harmful.This is alleged(a)ly because of the fact that economic restrictions also result to portrayals of limitation that detriment other aspects of the society (Lott, 2007). As a support to his free market theory, Lott gave the public major points that all signified the benefits of such concept. In doing so, it became apparent for the book to prove the harms when the economy is subjected to any kind of restriction. The points that supported the free market perspective were bravely presented by the book like its opposition to the book Freakonomics by Steve Levitt and Stephen Dubner.The Lott book stressed the advantages to be derived from free market or economic freedom when it challenged its counterpar ts ism that the American economy is a swindling business because both the corporations and their people are cheating the public (Lott, 2007). In correcting the wrong notion brought about by Freakonomics, Lotts Freedomnomics, in turn, clarified that the American economy, due to its free market principle, truly operates according to rules. This is because the field, as represented by many corporations, exerts costly efforts to make a profit by supplying people with something they loss (Lott, 2007, p.3). It is in this condition that the effective operation of free market is exhibited due to its remarkable advantage of encouraging the economy and people behind it to act frankly and accordingly (Lott, 2007). The book further perceived that treating the public honestly made the free economy maintain its good reputation. Notwithstanding the supposed penalties and legal liabilities, the best motivation for the economy and corporations is to preserve their honesty and honor. just about i mportantly, it is not only the economy which benefited from free market as such principle likewise paved the way for proper operation of the other aspects of the society or the the sincere actions of other members of the society such as political leaders, professionals, members of the criminal justice system, all of which ensured adherence to moral standards. As a proof, Lott cited his experiences which confirmed that economy, politics and religion were connected. This was recorded by his opinion-editorial materials in the July 13, 1986 issues of the Great Falls Tribune and the Montana Standard (Lott, 2007, p.7). Conclusion Regardless of the disputes against the free market principle, Freedomnomics effectively justified such and even emphasized its undisputed benefits which made the book commendable. Ultimately, it is only through continued observance of free market or liberated economy that Lott prescribed the country to proceed better and stable. Reference Lott, J. R. (2007). Fre edomnomics why the free market works and other half-baked theories dont. Washington, DC Regnery Publishing.