From the Introduction: We realize that your time is valuable. Most of you do not want to spend a lot of time learning new terms, memorizing formulas, or mastering details that are important only to professional economists. What you want are the insights of economics that really matter - those that will help you make better personal choices and enhance your understanding of our complex world. And you want those insights to be presented in a concise, organized and readable manner, with a minimum of economics jargon. This short book attempts to meet both of these objectives.
Essentials of Economics, Second Edition is a text intended for a one-term course in economics for college students. It attempts to teach students of the analytic way of studying economics and provides the basics of the concept of political economy and uses this knowledge to explain the choice process in the public sector. The book presents a comprehensive survey of economics. It contains chapters that highlight the importance of the microincentive structure of macroeconomic markets; identifies the determinants of supply, as well as the impact of public policy on those determinants; and presents both adaptive and rational expectations theory. The linkage between production theory and the cost curves faced by the firm; examination of the market structure; and the role of regulation and deregulation are covered as well. Economics students will find the book very useful.
It’s one thing to be passionate about protecting the environment. It’s another to be successful at it. This history of environmentalism includes a constant shift from one concern to another, and many laws have been enacted to clean up pollution or preserve natural beauty. However, many of these laws are ineffective and others have had unintended consequences. In this updated edition, Richard Stroup explains how economics applies to environmental decisionmaking, why many of our environmental laws have failed us, and how we might go about doing a better job of protecting nature. Eco-nomics is an indispensable guide to learning how to think about both economics and the environment.
Macroeconomics: Private and Public Choice discusses the principle of macroeconomics, particularly government expenditure, taxation, public choice theory, and labor markets. The book also covers aggregate supply, fiscal policy, inflation, unemployment, traditional Keynesian theory, low productivity, rapid inflation. The text explains international economics and comparative systems such as the export-import link, export taxes, and foreign finance. It analyzes the existence of trade barriers as being due to domestic protectionism policies, special interest nature of trade restrictions, and economic illiteracy. The book examines the economics of government failure, namely, the collective decision-making process as being both beneficial and limited of public sector economic action. Among the reasons cited for government failure are voter ignorance, inefficient public policy, existence of special interests, imprecise knowledge of consumer preferences, as well as government shortsightedness. The book also examines why government intervention in some activities can be beneficial, for example, weak market competition or monopoly, uninformed consumers, and when conditions of external benefits can be achieved. Economists, sociologists, professors in economics, or policy makers involved in economic and rural development will find the text valuable.
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.
Redefining the way we think about unemployment in America today, Out of Work offers devastating evidence that the major cause of high unemployment in the United States is the government itself. An Independent Institute Book
With this book, Richard A. Epstein provides a spirited and systematic defense of classical liberalism against the critiques mounted against it over the past thirty years. One of the most distinguished and provocative legal scholars writing today, Epstein here explains his controversial ideas in what will quickly come to be considered one of his cornerstone works. He begins by laying out his own vision of the key principles of classical liberalism: respect for the autonomy of the individual, a strong system of private property rights, the voluntary exchange of labor and possessions, and prohibitions against force or fraud. Nonetheless, he not only recognizes but insists that state coercion is crucial to safeguarding these principles of private ordering and supplying the social infrastructure on which they depend. Within this framework, Epstein then shows why limited government is much to be preferred over the modern interventionist welfare state. Many of the modern attacks on the classical liberal system seek to undermine the moral, conceptual, cognitive, and psychological foundations on which it rests. Epstein rises to this challenge by carefully rebutting each of these objections in turn. For instance, Epstein demonstrates how our inability to judge the preferences of others means we should respect their liberty of choice regarding their own lives. And he points out the flaws in behavioral economic arguments which, overlooking strong evolutionary pressures, claim that individual preferences are unstable and that people are unable to adopt rational means to achieve their own ends. Freedom, Epstein ultimately shows, depends upon a skepticism that rightly shuns making judgments about what is best for individuals, but that also avoids the relativistic trap that all judgments about our political institutions have equal worth. A brilliant defense of classical liberalism, Skepticism and Freedom will rightly be seen as an intellectual landmark.
Central to the controversy surrounding U. S. natural resources policy is the conflict between environmentalists and proponents of development. Examining the evolution of the philosophies underlying that conflict, Dr. Alston traces the failure to achieve a unified resources policy to the seemingly incompatible ideological positions held by resource specialists, interest groups, policymakers, econo mists, and foresters. His analysis goes beyond his case study of na ional forest policy to focus on an ancient question basic to policy making in a democratic society: How can government provide a sociopolitical framework that accomodates both individual interests and the need for unity in a collective existence? Only within this broader framework, he argues, is it possible to determine the proper division between private and public resource management or the proper role of government in natural resources planning. Incorporating a critical evaluation of the development of classical and neoclassical economic theory, this work makes clear the need to strike a balance between a strictly individualistic and an ecological point of view. Dr. Alston illustrates the ideological conflicts that complicate resources planning and explores the possibility of a new ideology capable of accomodating and inte grating differences to meet the complex needs of society.
The coursebook for this edition is available in three versions: economics, microeconomics, and macroeconomics. Each includes numerous multiple choice, true/falrse, and discussion questions permitting students to self-test their knowledge of each chapter. Each chapter also contains problem and project exercises and a set of short readings that compliment the classroom teaching of important topics.
ECONOMICS: PRIVATE AND PUBLIC CHOICE, Fifteenth Edition, reflects current economic conditions, enabling students to apply economic concepts to the world around them. The up-to-date text includes analysis and explanation of measures of economic activity in today's market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. ECONOMICS: PRIVATE AND PUBLIC CHOICE dispels common economic myths. The text uses the invisible hand metaphor to explain economic theory, demonstrating how it works to stimulate the economy. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, Fifteenth Edition, reflects current economic conditions, enabling students to apply economic concepts to the world around them. The up-to-date text includes analysis and explanation of measures of economic activity in today's market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. MACROECONOMICS: PRIVATE AND PUBLIC CHOICE dispels common economic myths. The text uses the invisible hand metaphor to explain economic theory, demonstrating how it works to stimulate the economy. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Authors James D. Gwartney, Richard L. Stroup, Russell S. Sobel, and David Macpherson, believe that a course on principles of economics should focus on the power and relevance of the economic way of thinking. It is this belief and corresponding writing approach that has made Economics: Private and Public Choice one of South Western most solid and enduring texts. Throughout this text, the authors integrate applications and real-world data in an effort to make the basic concepts of economics come alive for the reader.
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.
Authors James D. Gwartney, Richard L. Stroup, Russell S. Sobel, and David Macpherson, believe that a course on principles of economics should focus on the power and relevance of the economic way of thinking. It is this belief and corresponding writing approach that has made Macroeconomics: Private and Public Choice one of South Western Thomson Learning's most solid and enduring texts. Throughout this text, the authors integrate applications and real-world data in an effort to make the basic concepts of economics come alive for the reader.
It’s one thing to be passionate about protecting the environment. It’s another to be successful at it. This history of environmentalism includes a constant shift from one concern to another, and many laws have been enacted to clean up pollution or preserve natural beauty. However, many of these laws are ineffective and others have had unintended consequences. In this updated edition, Richard Stroup explains how economics applies to environmental decisionmaking, why many of our environmental laws have failed us, and how we might go about doing a better job of protecting nature. Eco-nomics is an indispensable guide to learning how to think about both economics and the environment.
UNDERSTANDING ECONOMICS, 14E, International Edition reflects current economic conditions, enabling students to apply economic concepts to the world around them. The up-to-date text includes analysis and explanation of measures of economic activity in today's market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. UNDERSTANDING ECONOMICS, 14E, International Edition dispels common economic myths. The text uses the "invisible hand" metaphor to explain economic theory, demonstrating how it works to stimulate the economy.The 14th edition includes a robust set of online multimedia learning tools. Tutorials, analyses and quizzes are designed to support classroom work and increase student performance. A full Aplia course, specifically created for UNDERSTANDING ECONOMICS, 14E, International Edition is also available.
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