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The Seen, the Unseen, and the Unrealized: How Regulations Affect Our Everyday Lives.

The Seen, the Unseen, and the Unrealized: How Regulations Affect Our Everyday Lives

Per L. Bylund

Lanham, Maryland: Lexington Books, 2016 (192 pages)

The title of this book--or at least its subtitle--is a bit misleading. In truth the book does not focus on regulations, which are not even mentioned until chapter 5 and are not treated substantively until chapter 7. Setting aside the quibble over the title, we can say that Per Bylund's book is a concise and readable introduction to free-market economics and its fundamental concepts. He notes at the outset his deep indebtedness to major thinkers in this tradition, including Hayek, Schumpeter, and Bastiat. Bylund also acknowledges that he has "repackaged" the ideas of these and other thinkers and theorists (ix). In essence the book is a series of explanations of basic economic ideas. The chapters cover, for example, what a market is, prices, value, ripple effects, unintended consequences, taxation, regulation, and subsidies. The book does not present a sustained or original argument, though Bylund does develop a consistent narrative example across the chapters in order to illustrate the various concepts. The Seen, the Unseen, and the Unrealized would serve well as a resource for reviewing central ideas and arguments in the free-market tradition, or perhaps as a course text in some undergraduate courses in economics.

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Publication:Journal of Markets & Morality
Article Type:Book review
Date:Mar 22, 2019
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