Free Lunch Thinking

8 Economic Myths and Why Politicians Fall for Them

Tom Bergin

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English

Penguin (Cornerstone)
05 June 2022

Macroeconomics; International economics; Welfare economics

Why most economic assumptions made by governments are wrong

Countries with smaller governments grow faster. Tobacco taxes are the best way to cut smoking.

Government regulation discourages entrepreneurship.

Award-winning investigative journalist Tom Bergin digs into eight mantras widely accepted by Western governments and, by talking to the people who promote those ideas and the workers, businesspeople and consumers who have felt their impacts, finds they often don't play out as expected. Smart, funny and incisive, Free Lunch Thinking is essential reading for anyone who really wants to know how economies tick - and why they often don't.

'I couldn't put it down. A thorough and nuanced examination of the evolution of supply side economics . . . I loved it.' Arthur Laffer, creator of the Laffer Curve

'An entertaining and thought-provoking exploration of economic theories that have been both widely accepted and largely wrong . . . I devoured it in a couple of sittings.' Reuters Breakingviews

'An insightful account of the recent history of economic thought. If you are looking for a book which challenges you without being annoying - make it this one.' Institute of Economics Affairs

By: Tom Bergin
Imprint: Penguin (Cornerstone)
Country of Publication: United Kingdom
Dimensions: Height: 120mm, Width: 128mm, Spine: 24mm
Weight: 268g
ISBN: 9781847942753
ISBN 10: 184794275X
Pages: 384
Publication Date: 05 June 2022
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Tom Bergin is an investigative financial journalist for Reuters. His work has prompted parliamentary inquiries and won numerous awards in Britain, the United States and Asia, including a Gerald Loeb Award for Distinguished Business Journalism and the Orwell Prize for Journalism. In 2013, he was named Business Journalist of the Year at the British Press Awards. His previous book, Spills & Spin- The Inside Story of BP, was named a Sunday Times Politics Book of the Year in 2011. Before entering journalism 20 years ago, Tom worked in asset management and as an energy broker. He grew up in Ireland and lives in London.

Reviews for Free Lunch Thinking: 8 Economic Myths and Why Politicians Fall for Them

An essential read if you want to know how economics has erred - and how it can do better.-Gabriel Zucman, author of 'The Hidden Wealth of Nations' I couldn't put it down. A thorough and nuanced examination of the evolution of supply side economics and the debates we had around how to put the theory into practice. I loved it.-Arthur Laffer, creator of the Laffer Curve A brilliant tour de force exposing the limitations of economic theories. Bergin punctures many accepted myths and - with care and rigour - demonstrates how much accepted economic orthodoxy is based on ideology and not reality. A very readable and well-researched book that we all should read.-Margaret Hodge, former chair of the UK parliament's Public Accounts Committee An entertaining and thought-provoking exploration of economic theories that have been both widely accepted and largely wrong . . . I devoured it in a couple of sittings.-Reuters Breakingviews Fantastically provocative book . . . a really great read.-David McWilliams, economist and author