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Author: Binyamin Appelbaum
Publisher: Little, Brown
ISBN: 0316512273
Category : Political Science
Languages : en
Pages : 473
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Book Description
In this "lively and entertaining" history of ideas (Liaquat Ahamed, The New Yorker), New York Times editorial writer Binyamin Appelbaum tells the story of the people who sparked four decades of economic revolution. Before the 1960s, American politicians had never paid much attention to economists. But as the post-World War II boom began to sputter, economists gained influence and power. In The Economists' Hour, Binyamin Appelbaum traces the rise of the economists, first in the United States and then around the globe, as their ideas reshaped the modern world, curbing government, unleashing corporations and hastening globalization. Some leading figures are relatively well-known, such as Milton Friedman, the elfin libertarian who had a greater influence on American life than any other economist of his generation, and Arthur Laffer, who sketched a curve on a cocktail napkin that helped to make tax cuts a staple of conservative economic policy. Others stayed out of the limelight, but left a lasting impact on modern life: Walter Oi, a blind economist who dictated to his wife and assistants some of the calculations that persuaded President Nixon to end military conscription; Alfred Kahn, who deregulated air travel and rejoiced in the crowded cabins on commercial flights as the proof of his success; and Thomas Schelling, who put a dollar value on human life. Their fundamental belief? That government should stop trying to manage the economy.Their guiding principle? That markets would deliver steady growth, and ensure that all Americans shared in the benefits. But the Economists' Hour failed to deliver on its promise of broad prosperity. And the single-minded embrace of markets has come at the expense of economic equality, the health of liberal democracy, and future generations. Timely, engaging and expertly researched, The Economists' Hour is a reckoning -- and a call for people to rewrite the rules of the market. A Wall Street Journal Business BestsellerWinner of the Porchlight Business Book Award in Narrative & Biography
Author: Binyamin Appelbaum
Publisher: Little, Brown
ISBN: 0316512273
Category : Political Science
Languages : en
Pages : 473
Get Book Here
Book Description
In this "lively and entertaining" history of ideas (Liaquat Ahamed, The New Yorker), New York Times editorial writer Binyamin Appelbaum tells the story of the people who sparked four decades of economic revolution. Before the 1960s, American politicians had never paid much attention to economists. But as the post-World War II boom began to sputter, economists gained influence and power. In The Economists' Hour, Binyamin Appelbaum traces the rise of the economists, first in the United States and then around the globe, as their ideas reshaped the modern world, curbing government, unleashing corporations and hastening globalization. Some leading figures are relatively well-known, such as Milton Friedman, the elfin libertarian who had a greater influence on American life than any other economist of his generation, and Arthur Laffer, who sketched a curve on a cocktail napkin that helped to make tax cuts a staple of conservative economic policy. Others stayed out of the limelight, but left a lasting impact on modern life: Walter Oi, a blind economist who dictated to his wife and assistants some of the calculations that persuaded President Nixon to end military conscription; Alfred Kahn, who deregulated air travel and rejoiced in the crowded cabins on commercial flights as the proof of his success; and Thomas Schelling, who put a dollar value on human life. Their fundamental belief? That government should stop trying to manage the economy.Their guiding principle? That markets would deliver steady growth, and ensure that all Americans shared in the benefits. But the Economists' Hour failed to deliver on its promise of broad prosperity. And the single-minded embrace of markets has come at the expense of economic equality, the health of liberal democracy, and future generations. Timely, engaging and expertly researched, The Economists' Hour is a reckoning -- and a call for people to rewrite the rules of the market. A Wall Street Journal Business BestsellerWinner of the Porchlight Business Book Award in Narrative & Biography
Author: Janek Wasserman
Publisher: Yale University Press
ISBN: 0300228228
Category : Business & Economics
Languages : en
Pages : 367
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Book Description
A group history of the Austrian School of Economics, from the coffeehouses of imperial Vienna to the modern-day Tea Party The Austrian School of Economics--a movement that has had a vast impact on economics, politics, and society, especially among the American right--is poorly understood by supporters and detractors alike. Defining themselves in opposition to the mainstream, economists such as Ludwig von Mises, Friedrich Hayek, and Joseph Schumpeter built the School's international reputation with their work on business cycles and monetary theory. Their focus on individualism--and deep antipathy toward socialism--ultimately won them a devoted audience among the upper echelons of business and government. In this collective biography, Janek Wasserman brings these figures to life, showing that in order to make sense of the Austrians and their continued influence, one must understand the backdrop against which their philosophy was formed--notably, the collapse of the Austro-Hungarian Empire and a half-century of war and exile.
Author: Steven E. Rhoads
Publisher: Cambridge University Press
ISBN: 9780521317641
Category : Political Science
Languages : en
Pages : 352
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Book Description
This book explains and assesses the ways in which micro, welfare and benefit-cost economists view the world of public policy. In general terms, microeconomic concepts and models can be seen to appear regularly in the work of political scientists, sociologists and psychologists. As a consequence, these and related concepts and models have now had sufficient time to influence strongly and to extend the range of policy options available to government departments. The central focus of this book is the 'cross-over' from economic modelling to policy implementation, which remains obscure and uncertain. The author outlines the importance of a wider knowledge of microeconomics for improving the effects and orientation of public policy. He also provides a critique of some basic economic assumptions, notably the 'consumer sovereignty principle'. Within this context the reader is in a better position to understand the 'marvellous insights and troubling blindnesses' of economists where often what is controversial politically is not so controversial among economists.
Author: Steven E. Landsburg
Publisher: Simon and Schuster
ISBN: 1471112233
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes as a surprise to most people, but not to economists, who have learned to take seriously the proposition that people respond to incentives. In The Armchair Economist, Steven E. Landsburg shows how the laws of economics reveal themselves in everyday experience and illuminate the entire range of human behavior. Why does popcorn cost so much at the cinema? The 'obvious' answer is that the owner has a monopoly, but if that were the whole story, there would also be a monopoly price to use the toilet. When a sudden frost destroys much of the Florida orange crop and prices skyrocket, journalists point to the 'obvious' exercise of monopoly power. Economists see just the opposite: If growers had monopoly power, they'd have raised prices before the frost. Why don't concert promoters raise ticket prices even when they are sure they will sell out months in advance? Why are some goods sold at auction and others at pre-announced prices? Why do boxes at the football sell out before the standard seats do? Why are bank buildings fancier than supermarkets? Why do corporations confer huge pensions on failed executives? Why don't firms require workers to buy their jobs? Landsburg explains why the obvious answers are wrong, reveals better answers, and illuminates the fundamental laws of human behavior along the way. This is a book of surprises: a guided tour of the familiar, filtered through a decidedly unfamiliar lens. This is economics for the sheer intellectual joy of it.
Author: Norbert Häring
Publisher: Anthem Press
ISBN: 0857284592
Category : Business & Economics
Languages : en
Pages : 261
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Book Description
"Economists and the Powerful: Convenient Theories, Distorted Facts, Ample Rewards" explores the workings of the modern global economy - an economy in which competition has been corrupted and power has a ubiquitous influence upon economic behavior. Based on empirical and theoretical studies by distinguished economists from both the past and present day, this book argues that the true workings of capitalism are very different from the popular myths voiced in mainstream economics. Offering a closer look at the history of economic doctrines - as well as how economists are incentivized - "Economists and the Powerful" exposes how, when and why the theme of power was erased from the radar screens of mainstream economic analysis - and the influence this subversive removal has had upon the modern financial world. For more information please see the book website: www.economistsandthepowerful.anthempressblog.com/
Author: Ignacio Palacios-Huerta
Publisher: MIT Press
ISBN: 0262026910
Category : Business & Economics
Languages : en
Pages : 211
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Book Description
In this book, ten prominent economists—including Nobel laureates and several likely laureates—offer their ideas about what the future might hold in 100 years. This pithy and engaging volume shows that economists may be better equipped to predict the future than science fiction writers. Economists' ideas, based on both theory and practice, reflect their knowledge of the laws of human interactions as well as years of experimentation and reflection. Although perhaps not as screenplay-ready as a work of fiction, these economists' predictions are ready for their close-ups. In this book, ten prominent economists—including Nobel laureates and several likely laureates—offer their ideas about the world of the twenty-second century. In scenarios that range from the optimistic to the guardedly gloomy, these thinkers consider such topics as the transformation of work and wages, the continuing increase in inequality, the economic rise of China and India, the endlessly repeating cycle of crisis and (projected) recovery, the benefits of technology, the economic consequences of political extremism, and the long-range effects of climate change. For example, 2013 Nobelist Robert Shiller provides an innovative view of future risk management methods using information technology; and Martin Weitzman raises the intriguing but alarming possibility of using geoengineering techniques to mitigate the inevitable effects of climate change. Contributors Daron Acemoglu, Angus Deaton, Avinash K. Dixit, Edward L. Glaeser, Andreu Mas-Colell, John E. Roemer, Alvin E. Roth, Robert J. Shiller, Robert M. Solow, Martin L. Weitzman
Author: Timothy Taylor
Publisher: Penguin
ISBN: 1101559772
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
The Only Economics Book You Will Ever Need - A Library Journal 2012 Best Business Book of the Year Economics isn't just about numbers: It's about politics, psychology, history, and so much more. We are all economists-when we work, save for the future, invest, pay taxes, and buy our groceries. Yet many of us feel lost when the subject arises. Award-winning professor Timothy Taylor tackles all the key questions and hot topics of both microeconomics and macroeconomics, including: Why do budget deficits matter? What exactly does the Federal Reserve do? Does globalization take jobs away from American workers? Why is health insurance so costly? The Instant Economist offers the knowledge and sophistication to understand the issues- so you can understand and discuss economics on a personal, national, and global level.
Author: Niall Kishtainy
Publisher: Yale University Press
ISBN: 0300226314
Category : Business & Economics
Languages : en
Pages : 257
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Book Description
A lively, inviting account of the history of economics, told through events from ancient to modern times and the ideas of great thinkers in the field What causes poverty? Are economic crises inevitable under capitalism? Is government intervention in an economy a helpful approach or a disastrous idea? The answers to such basic economic questions matter to everyone, yet the unfamiliar jargon and math of economics can seem daunting. This clear, accessible, and even humorous book is ideal for young readers new to economics and for all readers who seek a better understanding of the full sweep of economic history and ideas. Economic historian Niall Kishtainy organizes short, chronological chapters that center on big ideas and events. He recounts the contributions of key thinkers including Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and others, while examining topics ranging from the invention of money and the rise of agrarianism to the Great Depression, entrepreneurship, environmental destruction, inequality, and behavioral economics. The result is a uniquely enjoyable volume that succeeds in illuminating the economic ideas and forces that shape our world.
Author: Philip Mirowski
Publisher: Cambridge University Press
ISBN: 9780521426893
Category : Business & Economics
Languages : en
Pages : 468
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Book Description
The development of the energy concept in Western physics and its subsequent effect on the emergence of neoclassical economics are traced to reveal how economics has sought to emulate physics, especially with regard to the theory of value.
Author: John Komlos
Publisher: Routledge
ISBN: 1351584715
Category : Business & Economics
Languages : en
Pages : 307
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Book Description
The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization. This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists. A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.
