Review: A tall tale of market efficiency, informed choice and the quest for the right discount rate. I’ve been reading on modern economics lately. Some authors challenge dearly held economic assumptions, others use new and radical methods. Uncommon Sense is the old-fashioned kind of economics. The kinda bad kind. Becker and Posner curated a collection of their blog posts, each one written by one author with a commentary of the other. I did not check if the book content was directly taken from the author’s blog, or if some updates have been made. They muse on different topics, arranged by overarching themes, and they offer their economic and legal view on affairs. Applying economic principles to affairs things are not typically appraised by economic value is a neat idea. Bring down any decision to a sum of money that the alternatives will cost or bring in, and everything gets easy. Unfortunately, it doesn’t work all the time. Here are some examples from Uncommon Sense where I believe that the authors go awry. They never think far enough Love is transactional, remember? Becker and Posner would like to take it one step further and define marriage purely as a contractual…