The Economic Approach to Human Behavior

Rating:
Summary: Insightful
Review: Gary Becker is one of the most brilliant economists of our time, especially when it come to applying economics principles to non traditional areas. For example, Becker provides a rationale for altruistic behavior emerging in society, and he studies crime from the the perspective of a market economy of criminal activity. The book is somewhat technical, so a somewhat quantitative background is recommended.

Rating:
Summary: A milestone of new economic thought
Review: This book is definitely a milestone of modern economic thought. It is one of the brightest signs of changing paradigm, from considering only those problems as 'economical' where prices and volumes could be estimated, to go beyond towards traditional areas of other sciences. Economics of family and of crime to name a few. Becker considers the decision making in these cases to show that it can be straight economical, the same as applied in a pricing or in a decision to produce. The judgement of Becker's 'economic imperialism', though, is a discussible point of view. To what extent economic reasoning can be applied is a matter of axioms underlying every economic theory. And these are not obvious but questionable instead. Therefore, it is my belief that this book should be read with a greater degree of criticism, just like any analysis of problems beyond 'traditional' scope of issues of economics.