Monday, December 29, 2008

Book Review - The Logic of Life

The Logic of Life - Tim Harford: A very well written book providing an economic perspective on peoples' rational behavior - that incentives are not just about money, but love, managing risk and other factors also contribute to what people may consider a logical choice. Compared to somewhat similar books like Freakonomics or The Economic Naturalist, it is somewhat more intense to read, but was worth my time. The chapter on divorce confirmed my suspicions that "No Fault" divorce reduces domestic violence, and only resulted in a instantaneous peak in divorce, while other factors are responsible for the increase in divorce rate. Another perspective I liked was his dig on Jeff Sach's "The End of Poverty" - Tim explains that Malaria and insulation of countries are not necessarily reasons for countries not growing; Malaria affects children the most vs. productive adults, and countries like US and Australia have been insulated, but has shown growth and prosperity.

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