Dwight R. Lee's Books

In Defense of Monopoly

How Market Power Fosters Creative Production

By: Richard B. McKenzie,Dwight R. Lee

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In Defense of Monopoly

How Market Power Fosters Creative Production

By: Richard B. McKenzie,Dwight R. Lee

In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.

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Page Count

554

Publisher

University of Michigan Press

Published Date

ISBN 10

0472901141

ISBN 13

9780472901142

Microeconomics for MBAs

The Economic Way of Thinking for Managers

By: Richard B. McKenzie,Dwight R. Lee

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Microeconomics for MBAs

The Economic Way of Thinking for Managers

By: Richard B. McKenzie,Dwight R. Lee

Now in its third edition, this textbook develops the economic way of thinking through problems that MBA students will find relevant to their career goals. Theory and mathematics are kept as simple as possible and illustrated with real-life scenarios. The textbook package includes online video tutorials on key concepts and complex arguments, and topics likely to be assessed in exams. The distinguished author team has developed this textbook over twenty years of teaching microeconomics to MBA students. Chapters are clearly structured to support learning: Part I of each chapter develops key economic principles, whilst Part II draws on those principles to discuss organizational and incentive issues in management and focuses on solving the 'principal-agent' problem to maximize the profitability of the firm - lessons that can be applied to problems MBA students will face in the future. Economics and management are treated equally; this unique textbook presents economics as part of the everyday thinking of business people.

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Page Count

765

Publisher

Cambridge University Press

Published Date

ISBN 10

1316654257

ISBN 13

9781316654255

Failure & Progress

The Bright Side of Dismal Science

By: Dwight R. Lee,Richard B. McKenzie

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Failure & Progress

The Bright Side of Dismal Science

By: Dwight R. Lee,Richard B. McKenzie

Is a free-market economy cruel because some people are left unprotected against economic failure? Some believe so and favor a vast government safety net. But the authors of this readable and eye-opening book argue that government cannot mitigate failure without also eliminating opportunities for success. The authors show that the money absorbed by bureaucracy in the name of helping the poor would be better spent in the wealth-creating sector where it would actually make people better off by producing growth and jobs.

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Page Count

185

Publisher

Cato Institute

Published Date

ISBN 10

1935308947

ISBN 13

9781935308942

Common Sense Economics

What Everyone Should Know About Wealth and Prosperity

By: James D. Gwartney,Richard Stroup,Dwight R. Lee

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Common Sense Economics

What Everyone Should Know About Wealth and Prosperity

By: James D. Gwartney,Richard Stroup,Dwight R. Lee

Poised to become an enduring classic, this book is an intelligent and easy-to-read look at the basics of national and individual economics--information every citizen must know.

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Page Count

209

Publisher

Macmillan

Published Date

ISBN 10

031233818X

ISBN 13

9780312338183

Managing through Incentives

How to Develop a More Collaborative, Productive, and Profitable Organization

By: Richard B. McKenzie,Dwight R. Lee

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Managing through Incentives

How to Develop a More Collaborative, Productive, and Profitable Organization

By: Richard B. McKenzie,Dwight R. Lee

Incentives are the most powerful tools executives can use to improve worker performance. This is particularly true in today's empowered workplace, where incentives can ensure that workers apply their initiative toward company goals. Now, in this groundbreaking book, Richard McKenzie and Dwight Lee show how to select the right incentives and how to use them for best results. Generously illustrated with examples from business, industry, government, academia, and professional sports, this superb volume offers a comprehensive overview of incentives, both in theory and in practice, providing a wealth of ideas managers can use to get employees to work harder, smarter, and more cooperatively. Much of the book is quite eye-opening. For instance, while McKenzie and Lee recognize that money is the prime motivator, they urge managers not to overlook the power of non-monetary incentives, carefully evaluating such motivators as fringe benefits, psychological incentives, education, and training. And they examine a host of other issues, including how to take advantage of executive "overpayment" to increase profits; the limits of piece-rate and other pay-for-performance schemes; finding the right balance between current pay and a more generous pension plan; the value of tough bosses; and hostile takeovers as a form of managerial incentive. How workers are rewarded is often more important than how much they are rewarded, say the authors. The job of good managers is getting the incentives right. Managing Through Incentives shows managers how to apply proven motivators to help any size firm energize the work force, increase its profits, and meet the awesome challenges of today's fiercely competitive global economy.

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Page Count

348

Publisher

Oxford University Press

Published Date

ISBN 10

0198027990

ISBN 13

9780198027997

Microeconomics for Managers

Principles and Applications

By: Richard B. McKenzie,D. Eric Schansberg,Dwight R. Lee

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Microeconomics for Managers

Principles and Applications

By: Richard B. McKenzie,D. Eric Schansberg,Dwight R. Lee

Updated 4th edition, presenting microeconomics in a non-technical and easy to understand manner with its distinctive emphasis on 'the economic way of thinking' and its applicability to sharper managerial thinking and improved decision-making.

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Page Count

567

Publisher

Cambridge University Press

Published Date

ISBN 10

1009354752

ISBN 13

9781009354752

Common Sense Economics

What Everyone Should Know About Wealth and Prosperity

By: James D. Gwartney,Richard L. Stroup,Dwight R. Lee,Tawni Hunt Ferrarini

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Common Sense Economics

What Everyone Should Know About Wealth and Prosperity

By: James D. Gwartney,Richard L. Stroup,Dwight R. Lee,Tawni Hunt Ferrarini

The authors tell us what everyone should know about economics in language we can all understand. It's refreshing when four of the best in the profession avoid the all-too-common practice of writing in a code that only other economists can comprehend." ---Robert McTeer, former president of the Federal Reserve Bank of Dallas With the global economy recovering from a steep recession, those who fail to grasp basic economic principles such as gains from trade, the role of profit and loss, and the secondary effects of government spending, taxes, and borrowing risk falling behind in their professional careers--even their personal lives. Common Sense Economics discusses key principles and uses them to show how to make wise personal and policy choices. This new edition of a classic from James D. Gwartney, Richard L. Stroup, Dwight R. Lee, and Tawni H. Ferrarini, with reflections on the recent recession and the policy response to it, illuminates our world and what might be done to make it better.

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Page Count

240

Publisher

Macmillan

Published Date

ISBN 10

1429955988

ISBN 13

9781429955980

Common Sense Economics

What Everyone Should Know About Wealth and Prosperity, Fourth Edition

By: James D. Gwartney,Jane Shaw Stroup,Dwight R. Lee,Tawni Hunt Ferrarini,Joseph P. Calhoun

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Common Sense Economics

What Everyone Should Know About Wealth and Prosperity, Fourth Edition

By: James D. Gwartney,Jane Shaw Stroup,Dwight R. Lee,Tawni Hunt Ferrarini,Joseph P. Calhoun

The fully revised and updated fourth edition of the classic Common Sense Economics. As the global economy recovers from the COVID-19 pandemic and debates over the future of work challenge our long-held preconceptions about what careers and the market can be, learning the basics of economics has never been more essential. Principles such as gains from trade, the role of profit and loss, and the secondary effects of government spending, taxes, and borrowing risk continue to be critically important to the way America's economy functions, and critically important to understand for those hoping to further their professional lives—even their personal lives. Common Sense Economics discusses these key points and theories and more, using them to show how any reader can make wiser personal choices and form more informed positions on policy. Now in its fourth edition, this classic from James D. Gwartney, Dwight R. Lee, Tawni Hunt Ferrarini , Joseph P. Calhoun, and Jane Shaw Stroup has been fully updated to include commentary on the effects of the pandemic on the global economy and the workplace; it offers insight into political processes and the many ways in which economics informs policy, illuminating our world and what might be done to make it better.

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Page Count

139

Publisher

St. Martin's Press

Published Date

ISBN 10

1250292611

ISBN 13

9781250292612

Failure & Progress

The Bright Side of Dismal Science

By: Dwight R. Lee,Richard B. McKenzie

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Failure & Progress

The Bright Side of Dismal Science

By: Dwight R. Lee,Richard B. McKenzie

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Page Count

185

Publisher

Cato Institute

Published Date

ISBN 10

1935308947

ISBN 13

9781935308942

Getting Rich in America

By: Dwight R. Lee,Richard B. McKenzie

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Getting Rich in America

By: Dwight R. Lee,Richard B. McKenzie

Picking up where the smash bestseller The Millionaire Next Door leaves off, Getting Rich in America reveals eight simple, practical, commonsense rules anybody can follow to save a million dollars--without sacrificing quality of life. Based on years of research studying self-made millionaires, and a phi-losophy that has proven successful for the authors, internationally acclaimed economists Dwight R. Lee and Richard B. McKenzie unveil a profound truth in the quest to become wealthy: Getting rich is a choice--and choosing to be rich, especially in America, has never been easier. With its emphasis on achieving balance, Getting Rich in America is filled with exercises and easy-to-execute calculations that reveal how the "little things" really do add up and practical tips for saving and making your money work harder--so you don't have to.

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Page Count

221

Publisher

HarperPB

Published Date

ISBN 10

0066619831

ISBN 13

9780066619835

Book's by Dwight R. Lee

In Defense of Monopoly

In Defense of Monopoly

Microeconomics for MBAs

Microeconomics for MBAs

Failure & Progress

Failure & Progress

Common Sense Economics

Common Sense Economics

Managing through Incentives

Managing through Incentives

Microeconomics for Managers

Microeconomics for Managers

Common Sense Economics

Common Sense Economics

Common Sense Economics

Common Sense Economics

Failure & Progress

Failure & Progress

Getting Rich in America

Getting Rich in America

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