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Pop economics has become a successful sub-genre lately, with best-selling books like Freakonomics and The Tipping Point examining the relationship between human behavior and economic principles. In his new book, econo-blogger Tyler Cowen (marginalrevolution.com) explores the applicability of economics to everything from getting a child to do the dishes to online dating. But there's a twist. Cowen is not out to demystify the industry side of things, like Steven Levitt and Stephen J. Dubner did with real estate and drug dealing in Freakonomics. He wants to demonstrate a more personal humanity to the "dismal science," believing that everyone, even the layperson, has an innate sense of economics present in their daily lives. They just need to be more aware of how incentives and choices present themselves.
Economists deal in scarcity, and Cowen believes that "in our highly civilized society the scarcities I notice most often are those of attention and time." He devotes his chapters to taking back control of these resources in our normal lives through a series of incentive exercises, tips and introspection. He devotes an entire chapter to the "dangerous and necessary art of self-deception" -- i.e., how as a society we will simply overlook counterproductive ways of spending our time. Brainstorming meetings at work fall under this kind of "illusion of group productivity." Membership at a gym is another delusion we all work under, as most often we'll never work out as much we think we will, or calculate how much we'll pay to think we will.
While not quite Chicken Soup for the Economist's Soul, Cowen's book is still a self-help text of sorts, shuffling the mundane experience of life through a thoughtful, examined perspective, aimed at personal growth. Economics is, as Cowen notes, more about choice than anything. In the self-conscious style of a seasoned blogger, Cowen's best moments come when he riffs on the "Me Factor," his term for ego-driven consumerism. As an avid art and food lover, Cowen's advice on broadening your taste focuses on transcending your own Me Factor, to trick yourself into paying greater attention to your life. Cowen offers this tidbit for not getting bored in an art museum: "In every room ask yourself which picture you would take home -- and why." Focusing attention, not letting it grow scarce, produces economic rewards just as much as investing in your portfolio.
Part life coach, part scientist and part "cultural billionaire," Cowen is a master at making interdisciplinary connections, many of which will have you immediately economizing your life, in a good way.
BOOK REVIEW ARCHIVE
- The Number 73304-23-4153-6-96-8
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- For Your Eyes Only: Ian Fleming + James Bond
- Skyscrapers of the Midwest
- True Norwegian Black Metal
- That Salty Air
- Bonk
- Ghosts at the Table
- Don't Blame It on Rio
- The Chris Farley Show: A Biography in Three Acts
- The Runner
- Sex for America: Politically Inspired Erotica
- Working Sex: Sex Workers Write about a Changing Industry
- Against Happiness: In Praise of Melancholy
- boink: College Sex by the People Having It
- The Deviant's Pocket Guide to the Outlandish Sexual Desires Barely Contained in Your Subconscious
- The Star Machine
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- My View from the Corner
- The League of Extraordinary Gentlemen: The Black Dossier
- The Contenders: Hillary, John, Al, Dennis, Barack, et al.
- No Speed Limit: The Highs and Lows of Meth
- How to Talk About Books You Haven't Read
- Bets, Drugs, and Rock & Roll
- Dirty Diplomacy
- Black and White and Blue
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- Discover Your Inner Economist: Use Incentives to Fall in Love, Survive Your Next Meeting, and Motivate Your Dentist
- Spook Country
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- Enter the Past Tense: My Secret Life as a CIA Assassin
- The Other Side
- DMZ, volumes 1 and 2
- It's Not News, It's Fark: How the Mass Media Tries to Pass Off Crap as News
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- The Salon
- The Year Babe Ruth Hit 104 Home Runs: Recrowning Baseball's Greatest Slugger
- The Enlightened Bracketologist: The Final Four of Everything
- A Fighter's Heart
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- Prime Green: Remembering the Sixties
- Alternadad
- Absolute Sandman, Volume 1
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- Dirty Blonde: The Diaries of Courtney Love
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- Lost Girls
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- Al Pacino: In Conversation With Lawrence Grobel
- Lost Cosmonaut: Observations of an Anti-Tourist
- The Discomfort Zone
- Sloth
- The Ice Man: Confessions of a Mafia Contract Killer
- I Hate Myself and Want to Die
- Cross Country
- The Nasty Bits
- 100 Bullshit Jobs
- Eat This Book
- How March Became Madness
- Jimbo's Inferno
- Made to Break
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