Basic Economics

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Basic Economics

Basic Economics Pdf/ePub eBook Author:
Editor: Basic Books
ISBN: 0465056849
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Basic Economics by Summary

The bestselling citizen's guide to economics Basic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions. This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Economics in One Lesson

Economics in One Lesson Pdf/ePub eBook Author: Henry Hazlitt
Editor: Currency
ISBN: 0307760626
FileSize: 1051kb
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Economics in One Lesson by Henry Hazlitt Summary

With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.

Applied Economics

Applied Economics Pdf/ePub eBook Author: Thomas Sowell
Editor: Basic Books
ISBN: 0786722703
FileSize: 1878kb
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Applied Economics by Thomas Sowell Summary

The application of economics to major contemporary real world problems -- housing, medical care, discrimination, the economic development of nations -- is the theme of this new book that tackles these and other issues head on in plain language, as distinguished from the usual jargon of economists. It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures.

Economic Facts and Fallacies

Economic Facts and Fallacies Pdf/ePub eBook Author: Thomas Sowell
Editor: Basic Books
ISBN: 0465026303
FileSize: 1760kb
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Economic Facts and Fallacies by Thomas Sowell Summary

Economic Facts and Fallacies exposes some of the most popular fallacies about economic issues-and does so in a lively manner and without requiring any prior knowledge of economics by the reader. These include many beliefs widely disseminated in the media and by politicians, such as mistaken ideas about urban problems, income differences, male-female economic differences, as well as economics fallacies about academia, about race, and about Third World countries. One of the themes of Economic Facts and Fallacies is that fallacies are not simply crazy ideas but in fact have a certain plausibility that gives them their staying power-and makes careful examination of their flaws both necessary and important, as well as sometimes humorous. Written in the easy-to-follow style of the author's Basic Economics, this latest book is able to go into greater depth, with real world examples, on specific issues.

Basic Economics for Conservative Democrats

Basic Economics for Conservative Democrats Pdf/ePub eBook Author: Lyndon LaRouche
Editor: Executive Intelligence Review
FileSize: 618kb
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Basic Economics for Conservative Democrats by Lyndon LaRouche Summary

As I spell the point out in the main text of this book, a sound national economic policy in the tradition of Alexander Hamilton enables us to simultaneously increase profits and wages. This can be accomplished in only one way. It is accom­plished by transforming scientific and technological advances into what Hamilton termed “artificial labor,” machines which use sources of energy above and beyond the energy of the human musculature. In the overall life of our nation—or any nation, for that matter—neither business nor labor can prosper without a policy of promoting technological progress through the means of improved investment in productive capital. . . . . Once business and labor recognize that they both have the same overall, fundamental national economic-policy interest in common, that understand­ing establishes a mass electoral basis of support for the kinds of policies which business, farmers, and labor as a whole rightly demand.

The Basic Economic System of China

The Basic Economic System of China Pdf/ePub eBook Author: Changhong Pei,Chunxue Yang,Xinming Yang
Editor: Springer
ISBN: 9811368953
FileSize: 656kb
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The Basic Economic System of China by Changhong Pei,Chunxue Yang,Xinming Yang Summary

This book uses facts and data to prove that socialist public sectors are still in a predominant position in China. Based on previous research and studies, a set of methods for measuring the structure of public or non-public owned economy is offered in this book. As is remarked by the authors, China’s basic economic system, namely the system with the public sector remaining dominant and diverse sectors of the economy developing side by side, represents an efficient approach towards mutual benefit, common prosperity and peaceful co-existence.

Essentials of Economics

Essentials of Economics Pdf/ePub eBook Author: James D Gwartney,Richard Stroup,J. R. Clark
Editor: Academic Press
ISBN: 1483262944
FileSize: 1172kb
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Essentials of Economics by James D Gwartney,Richard Stroup,J. R. Clark Summary

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.

Poor Economics

Poor Economics Pdf/ePub eBook Author: Abhijit Banerjee,Esther Duflo
Editor: PublicAffairs
ISBN: 1610391608
FileSize: 851kb
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Poor Economics by Abhijit Banerjee,Esther Duflo Summary

The winners of the Nobel Prize in Economics upend the most common assumptions about how economics works in this gripping and disruptive portrait of how poor people actually live. Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two award-winning MIT professors, answer these questions based on years of field research from around the world. Called "marvelous, rewarding" by the Wall Street Journal, the book offers a radical rethinking of the economics of poverty and an intimate view of life on 99 cents a day. Poor Economics shows that creating a world without poverty begins with understanding the daily decisions facing the poor.

The Body Economic

The Body Economic Pdf/ePub eBook Author: David Stuckler,Sanjay Basu
Editor: Harper Collins
ISBN: 1443420468
FileSize: 1378kb
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The Body Economic by David Stuckler,Sanjay Basu Summary

An agenda-shaping look at the human costs of financial crisis—the culmination of ten years’ work by two pioneering researchers Politicians have talked endlessly about the seismic economic and social impact of the Great Recession, but many continue to ignore its disastrous effects on human health and have even exacerbated them by adopting harsh austerity measures and cutting key social programs at a time when citizens need them most. The result, as pioneering public health experts David Stuckler and Sanjay Basu reveal in this provocative book, is that many countries have turned their recessions into veritable epidemics, ruining or extinguishing thousands of lives in a misguided attempt to balance budgets and shore up financial markets. Yet sound alternative policies could help improve economies and protect public health at the same time. In The Body Economic, Stuckler and Basu mine data from around the globe and across history to show how government policy becomes a matter of life and death during financial crises. Through a series of case studies stretching from the United States in the 1930s to Russia and Indonesia in the 1990s and present-day Greece, Britain, Spain, Canada and America, Stuckler and Basu reveal that political mismanagement of financial crises has resulted in a grim array of human tragedies, including suicides, HIV infections, West Nile Virus and tuberculosis epidemics. Yet people can and do stay healthy, and even get healthier, during downturns. During the Great Depression, U.S. death rates actually plummeted, and today, people in Iceland, Norway and Japan are happier and healthier than ever. Full of shocking and counterintuitive revelations and bold policy recommendations, The Body Economic offers an alternative to austerity—one that will prevent widespread suffering, both now and in the future.

Essential Economics for Non-Economists

Essential Economics for Non-Economists Pdf/ePub eBook Author: Charvi Shukla
Editor: Notion Press
ISBN: 1637147317
FileSize: 1087kb
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Essential Economics for Non-Economists by Charvi Shukla Summary

This book is about fundamental ideas in economics that everyone should know about. This book is about ideas that you ¬could’ve come up with. The ideas that explain everything from costs and benefits of taking a class to running a business. These are the core concepts of life, and they are fun. This book contains topics of Microeconomics and Macroeconomics that would build a strong foundation for your understanding! It’ll expose you to concepts in Economics in their simplest and most intuitive form.

Basic Economics

Basic Economics Pdf/ePub eBook Author: IntroBooks Team
Editor: IntroBooks
FileSize: 785kb
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Basic Economics by IntroBooks Team Summary

Economics is an important branch of studies that deal with the rules, principles, and laws governing the economy of a nation and different parts of the world. Economics is the study and an analysis of how individuals, businesses and populations use money or other resources in order to produce wealth. It is important to understand the concepts and basic of economics for state, federal and local government and even for companies that are affected by them. Business professionals and economics professionals must know the exact working of economics to be able to advise companies and clients in businesses and the students in an academic setting. Economic growth may be defined as an increase in economy capacity to manufacture goods and services within a given period of time. In simple terms, economic growth suggests any long term expansion of growth and productive potential of an economy and its ability to satisfy the demands and wants of the natives. Sustained economic growth has a great impact on the nation’s national income and also on the level of employment.

Basic Economics

Basic Economics Pdf/ePub eBook Author: Knowledge Flow
Editor: Knowledge Flow
FileSize: 1662kb
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Basic Economics by Knowledge Flow Summary

This Basic Economics Book is perfect economic guide to students especially for Class 12 students and anyone who has an interest in how economy works. This book includes a chapter that explaining the income and growth of nation that calculating by GDP. The book explained economics theories by graphics, step-by-step summaries and graphs that help to understand any concepts easily. Topic covers in the Basic Economics book: What is Economics, Types of Economics, Types of Market, Price Discrimination, Giffen's Goods, Economic Surplus, Supply & Demand, Elasticity of Demand, Equilibrium and Gross Domestic Product (GDP).

The Economics of Collusion

The Economics of Collusion Pdf/ePub eBook Author: Robert C. Marshall,Leslie M. Marx
Editor: MIT Press
ISBN: 0262300737
FileSize: 816kb
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The Economics of Collusion by Robert C. Marshall,Leslie M. Marx Summary

An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.

Basic Economics Today

Basic Economics Today Pdf/ePub eBook Author: Clint Kennedy
Editor: Strategic Book Publishing
ISBN: 1618973312
FileSize: 1215kb
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Basic Economics Today by Clint Kennedy Summary

The economy is in crisis. Many private and public policy economic decisions are not well understood. However, the U.S. can grow in a manner that helps all Americans improve their standard of living. A basic understanding of economics goes a long way toward achieving this goal. -----Basic Economics Today provides analysis of the major economic issues impacting the United States. This powerful book presents the critical data you need to know, interpretations of that data using economic principles, and finally, conclusions that can be drawn from this information.----Basic Economics Today empowers students, consumers, companies and government policy makers to understand and implement resource investment decisions on both micro and macro levels.What should banks be doing to help homeowners? What are the impacts of higher national debt levels? How can our companies grow and hire employees? Basic objective economics leads the way with strong and sound implications.The author's Website provides essential data, commentary and links to major economic and financial sources. Economic data can take hours to find and years to understand. This site provides the economic indicator data from the major sources all in one location. It also offers basic explanations of what the data means.

Basic Economics, Grades 5 - 8

Basic Economics, Grades 5 - 8 Pdf/ePub eBook Author: Karl Biedenweg
Editor: Mark Twain Media
ISBN: 1580379036
FileSize: 909kb
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Basic Economics, Grades 5 - 8 by Karl Biedenweg Summary

Make money talk with Basic Economics for grades 5 and up! This 80-page book helps students develop economic awareness and an awareness of resources and trade. It includes 12 sections, each with worksheets and Internet activities. These sections introduce students to supply and demand, the government's effects on economic behavior, the economic cycle, and global trade. The book also includes an answer key, reproducibles, and review pages.

The Common Sense behind Basic Economics

The Common Sense behind Basic Economics Pdf/ePub eBook Author: Justin Vélez-Hagan
Editor: Lexington Books
ISBN: 1498509010
FileSize: 604kb
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The Common Sense behind Basic Economics by Justin Vélez-Hagan Summary

Economics really is just common sense, but few understand the basics. This book explains the basics of economics in simple, easy-to-understand language. Topics include most of the themes presented in an Economics 101 course, as well as a number of end-of-chapter discussions on the policies relevant to economics today.

Summary of Thomas Sowell's Basic Economics

Summary of Thomas Sowell's Basic Economics Pdf/ePub eBook Author: Milkyway Media
Editor: Milkyway Media
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Summary of Thomas Sowell's Basic Economics by Milkyway Media Summary

Buy now to get the main key ideas from Thomas Sowell's Basic Economics If you want to know what makes the world turn, a good place to start is by learning the basics of economics. Thomas Sowell’s Basic Economics (2000) is a guide for those who want to learn how the economy works without getting bogged down in jargon or calculations. Sowell explains the underlying foundations of any economic system, whether capitalist, socialist, feudal, or otherwise. Along with presenting economic concepts, he demonstrates how to evaluate economic policies in terms of the incentives they produce, rather than the aims they proclaim.

Economics for Beginners & Dummies

Economics for Beginners & Dummies Pdf/ePub eBook Author: Giovanni Rigters
Editor: Giovanni Rigters
FileSize: 1840kb
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Economics for Beginners & Dummies by Giovanni Rigters Summary

Economics for Beginners is a quick and simple explanation of basic economic ideas and principles. A common misconception about economics is that the study is all about money. Money is only one aspect of the economy. Economics is the study of the choices people, companies, or governments make when allocating their resources to create products and services. Those choices made are based on the scarcity of the resources, needs of the people, and the economic style of the community creating traditional, command, market, or mixed economies. Additionally, this text offers a common language, an easily understandable discussion of the law of supply and demand, and the intersection of both known as “equilibrium.” Finally, this ebook explains the cause and effect relationship between the economy and taxes, interest rates, and other governmental influences that lead to inflation and deflation, or the growth and contraction of the economy.

The Oxford Handbook of Austrian Economics

The Oxford Handbook of Austrian Economics Pdf/ePub eBook Author: Peter J. Boettke,Christopher J. Coyne
Editor: Oxford University Press
ISBN: 0199811830
FileSize: 856kb
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The Oxford Handbook of Austrian Economics by Peter J. Boettke,Christopher J. Coyne Summary

The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.

The Battle

The Battle Pdf/ePub eBook Author: Arthur C. Brooks
Editor: Basic Books
ISBN: 0465027873
FileSize: 1672kb
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The Battle by Arthur C. Brooks Summary

America faces a new culture war. It is not a war about guns, abortions, or gays—rather it is a war against the creeping changes to our entrepreneurial culture, the true bedrock of who we are as a people. The new culture war is a battle between free enterprise and social democracy. Many Americans have forgotten the evils of socialism and the predations of the American Great Society's welfare state programs. But, as American Enterprise Institute's president Arthur C. Brooks reveals in The Battle, the forces for social democracy have returned with a vengeance, expanding the power of the state to a breathtaking degree. The Battle offers a plan of action for the defense of free enterprise; it is at once a call to arms and a crucial redefinition of the political and moral gulf that divides Right and Left in America today. The battle is on, and nothing less than the soul of America is at stake.

Prosperity without Growth

Prosperity without Growth Pdf/ePub eBook Author: Tim Jackson
Editor: Routledge
ISBN: 1317388216
FileSize: 1854kb
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Prosperity without Growth by Tim Jackson Summary

What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.


Principles Pdf/ePub eBook Author: Ray Dalio
Editor: Simon and Schuster
ISBN: 1501124056
FileSize: 1965kb
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Principles by Ray Dalio Summary

#1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.

Economics in the Age of COVID-19

Economics in the Age of COVID-19 Pdf/ePub eBook Author: Joshua Gans
Editor: MIT Press
ISBN: 0262362791
FileSize: 1778kb
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Economics in the Age of COVID-19 by Joshua Gans Summary

A guide to the pandemic economy: essential reading about the long-term implications of our current crisis. The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. He shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps.

A Beginner's Guide to the World Economy

A Beginner's Guide to the World Economy Pdf/ePub eBook Author: Randy Charles Epping
Editor: Vintage
ISBN: 030742426X
FileSize: 546kb
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A Beginner's Guide to the World Economy by Randy Charles Epping Summary

In a time of rapid change in the world economy, this fascinating, concise, and user-friendly primer is the most reliable tool for keeping track of what's happening. What is the new economy? What is globalization? Is the euro the final seal on European Union? How is e-commerce transforming our world beyond economics? What is virtual money, and does it have real value? How do social concerns and societal ills (drugs, poverty, AIDS, endangered natural resources) play a part in the rapidly changing world economy? What are multinationals, and do they signal the end of nationalism? These and many other pertinent issues are addressed in an enlightening and entertaining handbook for those who want to be economically literate (and who doesn't?).

The Economic Naturalist

The Economic Naturalist Pdf/ePub eBook Author: Robert H. Frank
Editor: Basic Books
ISBN: 1541673832
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The Economic Naturalist by Robert H. Frank Summary

Why do the keypads on drive-up cash machines have Braille dots? Why are round-trip fares from Orlando to Kansas City higher than those from Kansas City to Orlando? For decades, Robert Frank has been asking his economics students to pose and answer questions like these as a way of learning how economic principles operate in the real world-which they do everywhere, all the time. Once you learn to think like an economist, all kinds of puzzling observations start to make sense. Drive-up ATM keypads have Braille dots because it's cheaper to make the same machine for both drive-up and walk-up locations. Travelers from Kansas City to Orlando pay less because they are usually price-sensitive tourists with many choices of destination, whereas travelers originating from Orlando typically choose Kansas City for specific family or business reasons. The Economic Naturalist employs basic economic principles to answer scores of intriguing questions from everyday life, and, along the way, introduces key ideas such as the cost-benefit principle, the “no cash on the table” principle, and the law of one price. This is as delightful and painless a way to learn fundamental economics as there is.

Money and Government

Money and Government Pdf/ePub eBook Author: Robert Skidelsky
Editor: Penguin UK
ISBN: 0241352835
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Money and Government by Robert Skidelsky Summary

The dominant view in economics is that money and government should play only a minor role in economic life. Money, it is claimed, is nothing more than a medium of exchange; and economic outcomes are best left to the 'invisible hand' of the market. In contrast, the view taken in this important new book is that the omnipresence of uncertainty makes money and government essential features of any market economy. One reason we want to hold onto money is that we don't know what the future will bring. Government - good government - makes the future more predictable and therefore reduces this demand for money. After Adam Smith, orthodoxy persistently espoused non-intervention in markets, but the Great Depression of 1929-32 stopped the artificers of orthodox economics in their tracks. A precarious balance of forces between government, employers, and trade unions enabled Keynesian economics to emerge as the new policy paradigm of the Western world. However, the stagflation of the 1970s led to the rejection of Keynesian policy and a return to small-state neoclassical dominance. Thirty years later, the 2008 global financial crash was severe enough to have shaken the neoclassical supremacy, but, curiously, this did not happen. Once the crisis had been overcome - by Keynesian measures taken in desperation - the pre-crash dogma was reinstated, undermined but unbowed. Since then, no new 'big idea' has emerged, and neoclassical economics has maintained its sway, enacting punishing austerity agendas that leave us with a still-anaemic global economy. This book aims to familiarize the reader with essential elements of Keynes's 'big idea'. By showing that much of economic orthodoxy is far from being the hard science it claims to be, it aims to embolden the next generation of economists to break free from their conceptual prisons and afford money and government the starring roles in the economic drama that they deserve.

The Economics of Belonging

The Economics of Belonging Pdf/ePub eBook Author: Martin Sandbu
Editor: Princeton University Press
ISBN: 0691204535
FileSize: 761kb
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The Economics of Belonging by Martin Sandbu Summary

A radical new approach to economic policy that addresses the symptoms and causes of inequality in Western society today Fueled by populism and the frustrations of the disenfranchised, the past few years have witnessed the widespread rejection of the economic and political order that Western countries built up after 1945. Political debates have turned into violent clashes between those who want to “take their country back” and those viewed as defending an elitist, broken, and unpatriotic social contract. There seems to be an increasing polarization of values. The Economics of Belonging argues that we should step back and take a fresh look at the root causes of our current challenges. In this original, engaging book, Martin Sandbu argues that economics remains at the heart of our widening inequality and it is only by focusing on the right policies that we can address it. He proposes a detailed, radical plan for creating a just economy where everyone can belong. Sandbu demonstrates that the rising numbers of the left behind are not due to globalization gone too far. Rather, technological change and flawed but avoidable domestic policies have eroded the foundations of an economy in which everyone can participate—and would have done so even with a much less globalized economy. Sandbu contends that we have to double down on economic openness while pursuing dramatic reforms involving productivity, regional development, support for small- and medium-sized businesses, and increased worker representation. He discusses how a more active macroeconomic policy, education for all, universal basic income, and better taxation of capital could work together for society’s benefit. Offering real answers, not invective, for facing our most serious political issues, The Economics of Belonging shows how a better economic system can work for all.


BASIC ECONOMIC PRINCIPLES Pdf/ePub eBook Author: Firend Alan Rasch
Editor: IJBMR
ISBN: 1082342629
FileSize: 355kb
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BASIC ECONOMIC PRINCIPLES by Firend Alan Rasch Summary

This concise book is especially relevant to people today, in the eve of the 21st century, where the very nature of human activities is changing may be forever, because of technological advancements and the applications of Artificial Intelligence “AI”. Such applications are not only causing massive disruptions to the way we do things, interact, behave and consume, but, changing the rules and principles of economics as we know it, may be forever. Therefore, documenting what we know about economics, in a simplified manner, that includes economic terms, theories and concepts is necessary at this juncture of human development.

Rediscovering Fire

Rediscovering Fire Pdf/ePub eBook Author: Guinevere Liberty Nell
Editor: Algora Publishing
ISBN: 0875867499
FileSize: 1250kb
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Rediscovering Fire by Guinevere Liberty Nell Summary

In this book, Guinevere Liberty Nell visits this historical laboratory of social science to study the lessons in basic economics that it teaches. Nell observes that the founders of the Soviet experiment, Lenin and other Bolshevik leaders, wrote volumes of articles and books on Marxist theory and then proceeded to enact the very policies that they promised. Therefore the Soviet experiment provides an ideal lens through which to view the consequences of various interpretations of economic theories and Marxist theories. However, despite the wealth of information available on the Soviet experiment, few writers have closely analyzed this historical process and what lessons it might offer for market economies. In this book, Nell carefully considers Soviet theory and practice, and draws out the lessons that Soviet planners learned. Each chapter considers one theory; the experience in the Soviet Union of policies based on this theory, and the reforms that planners implemented as the system evolved as well as in response to changes in the local and international conditions; and the lessons for market economies that this experience offers. Nell's lessons capture the dynamic nature of the economy and illustrate insights from the debate between socialists and Austrian economists. They should be useful and informative not only for readers interested in basic economics, but also for economists interested in heterodox approaches to economic modeling and theory, as well as for the citizen interested in rethinking the assumptions underlying mainstream policy debates.

The Dynamic Systems of Basic Economic Growth Models

The Dynamic Systems of Basic Economic Growth Models Pdf/ePub eBook Author: Bjarne S. Jensen
Editor: Springer Science & Business Media
ISBN: 9401110360
FileSize: 626kb
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The Dynamic Systems of Basic Economic Growth Models by Bjarne S. Jensen Summary

Two central problems in the pure theory of economic growth are analysed in this monograph: 1) the dynamic laws governing the economic growth processes, 2) the kinematic and geometric properties of the set of solutions to the dynamic systems. With allegiance to rigor and the emphasis on the theoretical fundamentals of prototype mathematical growth models, the treatise is written in the theorem-proof style. To keep the exposition orderly and as smooth as possible, the economic analysis has been separated from the purely mathematical issues, and hence the monograph is organized in two books. Regarding the scope and content of the two books, an "Introduction and Over view" has been prepared to offer both motivation and a brief account. The introduc tion is especially designed to give a recapitulation of the mathematical theory and results presented in Book II, which are used as the unifying mathematical framework in the analysis and exposition of the different economic growth models in Book I. Economists would probably prefer to go directly to Book I and proceed by consult ing the mathematical theorems of Book II in confirming the economic theorems in Book I. Thereby, both the independence and interdependence of the economic and mathematical argumentations are respected.

Economic Lessons from the Transition: The Basic Theory Re-examined

Economic Lessons from the Transition: The Basic Theory Re-examined Pdf/ePub eBook Author: Daniel R. Kazmer,Michele Konrad
Editor: Routledge
ISBN: 1315290030
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Economic Lessons from the Transition: The Basic Theory Re-examined by Daniel R. Kazmer,Michele Konrad Summary

Economic Lessons from the Transition focuses on major transitions in the 1990s: the transition from central planning and communism to market capitalism and the global integration of national financial systems. The transitions were supposed to raise most peoples' standard of living; instead they dramatically worsened the lives of most people in the countries involved. While most attempts to explain this failure focus on policies, the authors of this book argue that failure of economic theory to fully understand these transitions has led to bad policies that made the transitions unnecessarily painful and costly. The book suggests answers to the following questions: How should basic economic theory as taught in introductory economics courses be revised in light of the failure of market-oriented economics to effect a successful transition in so many former communist economies? Could the theory be revised and presented in a different manner? How can basic economic theory be used to help explain the past failures in understanding transition problems and to avoid future mistakes? This volume is a "must read" for all who teach economics or apply economics to the real world.

Historical Perspectives on Chinese Economics (1949–2011)

Historical Perspectives on Chinese Economics (1949–2011) Pdf/ePub eBook Author: Zhuoyuan Zhang
Editor: Springer Nature
ISBN: 9811581630
FileSize: 1923kb
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Historical Perspectives on Chinese Economics (1949–2011) by Zhuoyuan Zhang Summary

The book summarizes the 60 year development of economic theories, explaining in detail the features and development of economic theories from 1949 to 1976 and in the reform and opening-up period. The author has made a systematic theoretical analysis on the economic situation from two different stages — before and after China's reform and opening-up, which put forward many unconventional point of view, and it has contributed visionary ideas for the research on China's economy. It provide the readers with a general understanding of the economic trend and development of contemporary China, with many pertinent answer to the practical and concrete problems about China's economy.

Social Education in Asia

Social Education in Asia Pdf/ePub eBook Author: David L. Grossman,Joe Tin-Yau Lo
Editor: IAP
ISBN: 1607526425
FileSize: 1668kb
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Social Education in Asia by David L. Grossman,Joe Tin-Yau Lo Summary

This book aims to fill this gap in the scholarship on social education by drawing on the research findings and/or experiences from scholars in eight East and Southeast Asian societies. In this regard the editors of this book hope that it will be a significant addition to the literature, and will shed light on how the social education curricula are constructed and implemented across these societies in response to both internal and external forces. At the same time this book is not a comprehensive survey of social education in the region. Rather it is a selective set of case studies examining contested and compelling issues in the debates about social education in eight diverse societies in East and Southeast Asia. The book will be intellectually stimulating and inspiring, not only to the social educators and comparativists who can see more about social science education from non-western perspectives, but also to curriculum developers, policy makers, social educators and front-line teachers who can enrich their professional experiences through learning from other countries/regions.

Better Living through Economics

Better Living through Economics Pdf/ePub eBook Author: John J. Siegfried
Editor: Harvard University Press
ISBN: 0674267338
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Better Living through Economics by John J. Siegfried Summary

From the late fifteenth to the eighteenth centuries, the imagination came to be recognized in South Indian culture as the defining feature of human beings. Shulman elucidates the distinctiveness of South Indian theories of the imagination and shows how they differ radically from Western notions of reality and models of the mind.

Improving Our Standard of Living: The Science, Politics, and Economics of Global Betterment

Improving Our Standard of Living: The Science, Politics, and Economics of Global Betterment Pdf/ePub eBook Author: Wesley Krug
Editor: Lulu Press, Inc
ISBN: 1387026070
FileSize: 965kb
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Improving Our Standard of Living: The Science, Politics, and Economics of Global Betterment by Wesley Krug Summary

This book is about how to reduce poverty and improve global living standards. Topics include economic growth, income inequality, corruption, sustainable development, and more. Here are some questions answered throughout: Which nations have the best living standards? Has capitalism failed? What caused the decline of the middle class in some nations like the US and UK, but not in others like Switzerland and the Nordic countries? Why is economic growth slowing in developed countries? Why is our tax system so complicated and full of loopholes? What can we do about it? Should we raise taxes on the rich? How high should the minimum wage be? Can we grow the economy without harming the environment? How do we speed up the transition to renewable energy? How do we grow food sustainably? What do we do about dwindling resources? How high can the debt go? What is the cause of corruption? Is the world getting better or worse? Will robots take our jobs? Can we cure aging? Should we?

Innovations in Economic Education

Innovations in Economic Education Pdf/ePub eBook Author: Mary Beth Henning
Editor: Routledge
ISBN: 1317413229
FileSize: 942kb
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Innovations in Economic Education by Mary Beth Henning Summary

Innovations in Economic Education addresses the growing issue of financial illiteracy by showing how economics can be successfully integrated into classrooms from kindergarten through higher education. Pre-service teachers, experienced educators, curriculum leaders, parents, and school administrators will find practical ideas to improve economic understanding. At the elementary level, the book provides creative ways of introducing young students to the basic concepts of economics, financial justice, and social action. For higher grade levels, the book offers ideas to integrate economics into current history, civics, and math curricula. The final portion of the book features recommendations by leading economic educators on how economics can play a greater role in teachers’ professional development. The pedagogical tools presented in each chapter include lesson plans and practical insights, and are designed to meet the NCSS, C3 Framework, and Common Core State Standards for Social Studies. This book is a timely and valuable resource for all educators interested in improving their students’ economic literacy and financial decision-making.