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🚀 The Book in 3 Sentences

This book covers a number of economic aspects of society;
This book analyses many examples in China and India, which might be contrary to what we believed;
This book is indeed informative.

☘️ How the Book Changed Me

The self-proclaimed economists on TV and in the press—chief economist of Bank X or Firm Y—are, with important exceptions, primarily spokespersons for their firms’ economic interests who often feel free to ignore the weight of the evidence.
Our sense is that the best economics is frequently the least strident.
The economic analysis of immigration often comes down to a seductive syllogism.
The more migrants, the higher the wages.
Each of these studies suggests low-skilled immigrants generally do not hurt the wages and employment of the natives.
Moreover, immigrant-founded firms account for 52 percent of the top twenty-five firms, 57 percent of the top thirty-five firms, and nine of the top thirteen most valuable brands.
Henry Ford was the son of an Irish immigrant. Steve Jobs’s biological father was from Syria, Sergey Brin was born in Russia. Jeff Bezos takes his name from his stepfather, the Cuban immigrant Mike Bezos.
In essence, loss aversion makes us extremely worried about any risk, even small, that is a consequence of our active choice.
China could win in any single market and yet there is no way for it to win in every market.
Rich countries heavily regulate imports, which have to meet strict safety, labor quality, and environmental standards.
It is no accident that ethnic Indians and Chinese who lived and worked in Western countries played an important role in their native countries’ transition when they returned home.