Man, this book makes me angry. Sowell really is a Friedman clone, so most criticisms I had on Capitalism and Freedom are the same here. Fuck the poor, fuck the climate, fuck imigration, fuck social justice,... Some examples:
There is no housing crisis, it's just because the land is so expensive because government regulation. It's just supply and demand. That's how you get slums. The rich will still be able to profit from the open space and parks that Sowell sees as the cause of the high prices. While the poor will try to live near the big city, even if it means unhealthy and dangerous conditions. I recently read a book that compared skyscrapers in big city with gated communities. That's the world we are evolving to.
Healthcare is another one. If there's one aspect of policy in the US where chauvinism is misplaced, it's healthcare... And still he does it. Pharmaceutical research for example he states costs millions of dollars for the development of one drug. And these costs are now paid by the US, because they pay the real cost. While all the countries that have price controls on pharmaceuticals just pass the bill. If the US would do it too, no one will develope new medicine. There's so much wrong with that statement. It costs millions in research and development, true. But how much is spend on marketing of those products in the US? How much is oversubscribed because doctors have financial incentives to push pills? And why can pharmaceutical companies still make profit in Europe and Canada? Even in worst case scenario where he's partly right that price controls will lead to less investment in R&D, Covid-19 showed how governments can influence and finance R&D if needed, and with an equitable and fair distribution of the vaccine. Another one is that cheap healthcare means worse quality. But the US is only number 11 in the world on health care outcomes, but also timeliness. So it's not faster or better than countries like Canada, France, Germany, Netherlands, Norway and Sweden, which in his opinion offer worse quality and longer waitlists.
You don't have to be an extreme left communist to find the ideas in the book disgusting and even dangerous. But I'll keep pushing myself to read books like this to read other opinions. But before I read another neoliberal propaganda book, I need a few pallet cleansers.