Knowledge and Decisions

Front Cover
Basic Books, 1996 - Business & Economics - 422 pages
16 Reviews
With a new preface by the author, this reissue of Thomas Sowell's classic study of decision making updates his seminal work in the context of "The Vision of the Anointed." Sowell, one of America's most celebrated public intellectuals, describes in concrete detail how knowledge is shared and disseminated throughout modern society. He warns that society suffers from an ever-widening gap between firsthand knowledge and decision making -- a gap that threatens our very freedom because actual knowledge gets replaced by assumptions based on an abstract and elitist social vision of what ought to be.

"Knowledge and Decisions," a winner of the 1980 Law and Economics Center Prize, was heralded as a "landmark work" and selected for this prize "because of its cogent contribution to our understanding of the differences between the market process and the process of government." In announcing the award, the center acclaimed Sowell, whose "contribution to our understanding of the process of regulation alone would make the book important, but in reemphasizing the diversity and efficiency that the market makes possible, [his] work goes deeper and becomes even more significant." "In a wholly original manner [Sowell] succeeds in translating abstract and theoretical argument into a highly concrete and realistic discussion of the central problems of contemporary economic policy." --F. A. Hayek "This is a brilliant book. Sowell illuminates how every society operates. In the process he also shows how the performance of our own society can be improved." --Milton Friedman

"This is a brilliant book. Sowell illuminates how every society operates. In the process, he also shows how the performance of ourown society can be improved."--Milton FriedmanA

  

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Review: Knowledge And Decisions

User Review  - Mike Kirsch - Goodreads

Thomas Sowell has great insights into how people, companies and governments operate and how incentives, the cost of knowledge affect how decisions are made. Read full review

Review: Knowledge And Decisions

User Review  - Joe - Goodreads

The focus of this book is on the nature and dynamics of decisioning in complexity. Its very accessible to readers new to the subject of information economics and decisioning but also provides common ... Read full review

Contents

The Role of Knowledge
3
DecisionMaking Processes
21
Economic TradeOffs
45
Social TradeOffs
81
Political TradeOffs
114
An Overview
150
TRENDS AND ISSUES
161
Historical Trends
163
Trends in Economics
167
Trends in Law
229
Trends in Politics
305
Notes
384
Index
412
Copyright

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About the author (1996)

Thomas Sowell has taught economics at a number of colleges and universities, including Cornell, University of California Los Angeles, and Amherst. He has published both scholarly and popular articles and books on economics, and is currently a scholar in residence at the Hoover Institution, Stanford University.

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