Richard B. McKenzie's Books

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

This text explains how firms can improve the performance of the people on whom they depend - workers, customers, suppliers, stockholders - by managing the incentives system better. The author argues that incentives are not just a matter of money, but a range of factors which provide a set of rewards that encourage people to work towards a common goal of organizational success.

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348

Publisher

Oxford University Press, USA

Published Date

ISBN 10

0195119010

ISBN 13

9780195119015

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

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

A sophisticated yet non-technical introduction to microeconomics for MBA students, now in its third edition.

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765

Publisher

Cambridge University Press

Published Date

ISBN 10

1107139481

ISBN 13

9781107139480

The New World of Economics

A Remake of a Classic for New Generations of Economics Students

By: Richard B. McKenzie,Gordon Tullock

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The New World of Economics

A Remake of a Classic for New Generations of Economics Students

By: Richard B. McKenzie,Gordon Tullock

The New World of Economics, 6th edition, by Richard McKenzie and Gordon Tullock, represents a revival of a classic text that, when it was first published, changed substantially the way economics would be taught at the introductory and advanced levels of economics for all time. In a very real sense, many contemporary general-audience economics books that seek to apply the “economic way of thinking” to an unbounded array of social issues have grown out of the disciplinary tradition established by earlier editions of The New World of Economics. This new edition of The New World will expose new generations of economics students to how McKenzie and Tullock have applied in a lucid manner a relatively small number of economic concepts and principles to a cluster of topics that have been in the book from its first release and to a larger number of topics that are new to this edition, with the focus of the new topics on showing students how economic thinking can be applied to business decision making. This edition continues the book’s tradition of taking contrarian stances on important economic issues. Economics professors have long reported that The New World is a rare book in that students will read it without being required to do so.

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562

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3642273645

ISBN 13

9783642273643

Why Popcorn Costs So Much at the Movies

And Other Pricing Puzzles

By: Richard B. McKenzie

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Why Popcorn Costs So Much at the Movies

And Other Pricing Puzzles

By: Richard B. McKenzie

This entertaining book seeks to unravel an array of pricing puzzles from the one captured in the book’s title to why so many prices end with "9" (as in $2.99 or $179). Along the way, the author explains how the 9/11 terrorists have, through the effects of their heinous acts on the relative prices of various modes of travel, killed more Americans since 9/11 than they killed that fateful day. He also explains how well-meaning efforts to spur the use of alternative, supposedly environmentally friendly fuels have starved millions of people around the world and given rise to the deforestation of rainforests in Malaysia and Indonesia.

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332

Publisher

Springer Science & Business Media

Published Date

ISBN 10

0387770011

ISBN 13

9780387770017

Predictably Rational?

In Search of Defenses for Rational Behavior in Economics

By: Richard B. McKenzie

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Predictably Rational?

In Search of Defenses for Rational Behavior in Economics

By: Richard B. McKenzie

Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.

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Page Count

319

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3642015867

ISBN 13

9783642015861

Plant Closings

Public Or Private Choices?

By: Richard B. McKenzie

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Plant Closings

Public Or Private Choices?

By: Richard B. McKenzie

Essays, lectures, research papers contributing to the debate on draft legislation concerning plant shutdown restrictions, USA - covers theoretical, empirical and legal aspects, discusses industrial policy and employment policy issues relating to relocation of industry, redundancy, employers liability and responsibility, labour turnover, labour relations implications, etc. Graphs, references, statistical tables.

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348

Publisher

Cato Institute

Published Date

ISBN 10

0932790429

ISBN 13

9780932790422

A Brain-Focused Foundation for Economic Science

A Proposed Reconciliation between Neoclassical and Behavioral Economics

By: Richard B. McKenzie

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A Brain-Focused Foundation for Economic Science

A Proposed Reconciliation between Neoclassical and Behavioral Economics

By: Richard B. McKenzie

This book argues that Lionel Robbins’s construction of the economics field’s organizing cornerstone, scarcity—and all that has been derived from it from economists in Robbins’s time to today—no longer can generate general consent among economists. Since Robbins’ Essay, economists have learned more than Robbins and his cohorts could have imagined about human decision making and about the human brain that is the lynchpin of human decision making. This book argues however that behavioral economists and neuroeconomists, in pointing to numerous ways people fall short of perfectly rational decisions (anomalies, biases, and downright errors), have saved conventional economics from such self-contradictions in what could be viewed as a wayward approach. This book posits that the human brain is the ultimate scarce resource, and that a focus on the brain can bring a new foundation for economics and can save the discipline from hostile criticisms from a variety of non-economists (many psychologists).

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231

Publisher

Springer

Published Date

ISBN 10

3319768107

ISBN 13

9783319768106

HEAVY!

The Surprising Reasons America Is the Land of the Free—And the Home of the Fat

By: Richard B. McKenzie

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HEAVY!

The Surprising Reasons America Is the Land of the Free—And the Home of the Fat

By: Richard B. McKenzie

America’s emerging “fat war” threatens to pit a shrinking population of trim Americans against an expanding population of heavy Americans in raging policy debates over “fat taxes” and “fat bans.” These “fat policies” would be designed to constrain what people eat and drink – and theoretically crimp the growth in Americans’ waistlines and in the country’s healthcare costs. Richard McKenzie’s HEAVY! The Surprising Reasons America Is the Land of the Free—And the Home of the Fat offers new insight into the economic causes and consequences of America's dramatic weight gain over the past half century. It also uncovers the follies of seeking to remedy the country’s weight problems with government intrusions into people’s excess eating, arguing that controlling people’s eating habits is fundamentally different from controlling people’s smoking habits. McKenzie controversially links America’s weight gain to a variety of causes: the growth in world trade freedom, the downfall of communism, the spread of free-market economics, the rise of women's liberation, the long-term fall in real minimum wage, and the rise of competitive markets on a global scale. In no small way – no, in a very BIG way – America is the “home of the fat” because it has been for so long the “land of the free.” Americans’ economic, if not political, freedoms, however, will come under siege as well-meaning groups of “anti-fat warriors” seek to impose their dietary, health, and healthcare values on everyone else. HEAVY! details the unheralded consequences of the country's weight gain, which include greater fuel consumption and emissions of greenhouse gases, reduced fuel efficiency of cars and planes, growth in health insurance costs and fewer insured Americans, reductions in the wages of heavy people, and required reinforcement of rescue equipment and hospital operating tables. McKenzie advocates a strong free-market solution to how America's weight problems should and should not be solved. For Americans to retain their cherished economic freedoms of choice, heavy people must be held fully responsible for their weight-related costs and not be allowed to shift blame for their weight to their genes or environment. Allowing heavy Americans to shift responsibility for their weight gain can only exacerbate the country’s weight problems.

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Page Count

335

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3642201350

ISBN 13

9783642201356

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

A sophisticated yet non-technical introduction to microeconomics for MBA students and undergraduates (fully updated for its 4th edition).

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567

Publisher

Cambridge University Press

Published Date

ISBN 10

1009354787

ISBN 13

9781009354783

Criminal Behavior Systems

A Typology

By: Marshall B. Clinard,Richard Quinney,John Wildeman

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Criminal Behavior Systems

A Typology

By: Marshall B. Clinard,Richard Quinney,John Wildeman

An important classic, especially useful for courses in criminal behavior and personality, this text begins with a discussion of the construction of types of crime and then formulates and utilizes a typology of criminal behavior systems.

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Page Count

352

Publisher

Routledge

Published Date

ISBN 10

1437755291

ISBN 13

9781437755299

Bound to Be Free

By: Richard B. McKenzie

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Bound to Be Free

By: Richard B. McKenzie

Why is that in the land of the free, special interests control what you eat, wear, and drive, while the government tells you how your children will be educated and how much you'll pay for life's essentials? In Bound To Be Free—a book as clear and direct as it is powerful and persuasive—noted economist Richard B. McKenzie identifies the forces destroying you bit by bit and shows what can be done now to stop the erosion of individual and marketplace freedom before it is too late! In a daring departure, McKenzie argues that the key to each person's freedom is a business community free of government favor as well as interference. Only a reassertion of the principles of constitutional democracy will really speak to the people's deeply felt need to "get the government off our backs." Citing case after case, McKenzie demonstrates that the root problem is that everyone but the ultimate consumer is paying the "economy-by-government game." Bound To Be Free goes beyond a tough objective delineation of our economic malaise. It provides a hard-hitting, multifaceted program that includes a free market constitutional amendment, and enforceable way to limit the government's ability to levy taxes and print money, and a novel procedure to eliminate the control of Congress by special interests. The result is a message of hope and freedom for all Americans.

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Page Count

228

Publisher

Hoover Press

Published Date

ISBN 10

0817975535

ISBN 13

9780817975531

Bound to Be Free

By: Richard B. McKenzie

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Bound to Be Free

By: Richard B. McKenzie

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228

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Hoover Press

Published Date

ISBN 10

0817975535

ISBN 13

9780817975531

The American Job Machine

By: Richard B. McKenzie

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The American Job Machine

By: Richard B. McKenzie

A Cato Institute book." Includes bibliographies and index.

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280

Published Date

ISBN 10

087663532X

ISBN 13

9780876635322

Dismantling Contemporary Deficit Thinking

Educational Thought and Practice

By: Richard R. Valencia

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Dismantling Contemporary Deficit Thinking

Educational Thought and Practice

By: Richard R. Valencia

Deficit thinking is a pseudoscience founded on racial and class bias. It "blames the victim" for school failure instead of examining how schools are structured to prevent poor students and students of color from learning. Dismantling Contemporary Deficit Thinking provides comprehensive critiques and anti-deficit thinking alternatives to this oppressive theory by framing the linkages between prevailing theoretical perspectives and contemporary practices within the complex historical development of deficit thinking. Dismantling Contemporary Deficit Thinking examines the ongoing social construction of deficit thinking in three aspects of current discourse – the genetic pathology model, the culture of poverty model, and the "at-risk" model in which poor students, students of color, and their families are pathologized and marginalized. Richard R. Valencia challenges these three contemporary components of the deficit thinking theory by providing incisive critiques and discussing competing explanations for the pervasive school failure of many students in the nation’s public schools. Valencia also discusses a number of proactive, anti-deficit thinking suggestions from the fields of teacher education, educational leadership, and educational ethnography that are intended to provide a more equitable and democratic schooling for all students.

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