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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.
What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
"This book’s great service is that it challenges us to consider the ways in which our institutions and systems, and the assumptions, positions and divisions that undergird them, leave us ill prepared for the next crisis."—Robert Rubin, The New York Times Book Review "Full of valuable insight and telling details, this may well be the best thing to read if you want to know what happened in 2020." --Paul Krugman, New York Review of Books Deftly weaving finance, politics, business, and the global human experience into one tight narrative, a tour-de-force account of 2020, the year that changed everything--from the acclaimed author of Crashed. The shocks of 2020 have been great and small, disrupting the world economy, international relations and the daily lives of virtually everyone on the planet. Never before has the entire world economy contracted by 20 percent in a matter of weeks nor in the historic record of modern capitalism has there been a moment in which 95 percent of the world's economies were suffering all at the same time. Across the world hundreds of millions have lost their jobs. And over it all looms the specter of pandemic, and death. Adam Tooze, whose last book was universally lauded for guiding us coherently through the chaos of the 2008 crash, now brings his bravura analytical and narrative skills to a panoramic and synthetic overview of our current crisis. By focusing on finance and business, he sets the pandemic story in a frame that casts a sobering new light on how unprepared the world was to fight the crisis, and how deep the ruptures in our way of living and doing business are. The virus has attacked the economy with as much ferocity as it has our health, and there is no vaccine arriving to address that. Tooze's special gift is to show how social organization, political interests, and economic policy interact with devastating human consequences, from your local hospital to the World Bank. He moves fluidly from the impact of currency fluctuations to the decimation of institutions--such as health-care systems, schools, and social services--in the name of efficiency. He starkly analyzes what happened when the pandemic collided with domestic politics (China's party conferences; the American elections), what the unintended consequences of the vaccine race might be, and the role climate change played in the pandemic. Finally, he proves how no unilateral declaration of 'independence" or isolation can extricate any modern country from the global web of travel, goods, services, and finance.
An accessible, thoroughly engaging look at how the economy really works and its role in your everyday life Not surprisingly, regular people suddenly are paying a lot closer attention to the economy than ever before. But economics, with its weird technical jargon and knotty concepts and formulas can be a very difficult subject to get to grips with on your own. Enter Greg Ip and his Little Book of Economics. Like a patient, good-natured tutor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures and major players, this revised and updated edition of Greg's bestselling guide clues you in on what's really going on, what it means to you and what we should be demanding our policymakers do about the economy going forward. From inflation to the Federal Reserve, taxes to the budget deficit, you get indispensible insights into everything that really matters about economics and its impact on everyday life Special sections featuring additional resources of every subject discussed and where to find additional information to help you learn more about an issue and keep track of ongoing developments Offers priceless insights into the roots of America's economic crisis and its aftermath, especially the role played by excessive greed and risk-taking, and what can be done to avoid another economic cataclysm Digs into globalization, the roots of the Euro crisis, the sources of China's spectacular growth, and why the gap between the economy's winners and losers keeps widening
An engaging look at the road to a sustained economic recovery The global finance system can be regulated to prevent massive credit fraud, tame capitalism, confront the sovereign debt crisis, and move towards investing in the real economy and full employment. "Obamanomics", and American reinvention can lead to a sustained economic recovery but only together with major domestic, European, and global monetary reforms in cooperation with emerging nations. For decades, the U.S. dollar has served as the world's reserve currency. But after the global market meltdown and the resulting massive stimulus spending meant to keep the Great Recession from becoming an even Greater Depression, confidence in America's ability to make good on its growing debt is at all-time lows. In Brave New World Economy: Global Finance Threatens Our Future, Wilhelm Hankel and Robert Isaak—two extremely controversial, yet highly respected experts on international economics and management—describe how "Obamanomics," the Euro crisis, and shift of economic growth from the West to emerging economies, if handled properly, can lead to true economic stability and job creation. Highlights America's 'Great Bluff' bail-out strategy to cope with the crisis and the reforms Obamanomics must make to bring about sustainable job recovery Describes the risks and rewards of borrowing from future generations—in the United States, Europe, and the developing world—to save the current generation Details how money became separated from government control and why the interbanking credit system threatens western nations with bankruptcy, undermining pensions, and the human right to work Points out why nation-states need to go back to helping themselves and not rely on the false promises of regional integration and globalization Shows how legalizing underground labor will create more jobs How we arrived at this economic crossroads isn't as important as the decision as to which path to take. The Brave New World Economy points us in the right direction.
A controversial look at the end of globalization and what it means for prosperity, peace, and the global economic order Globalization, long considered the best route to economic prosperity, is not inevitable. An approach built on the principles of free trade and, since the 1980s, open capital markets, is beginning to fracture. With disappointing growth rates across the Western world, nations are no longer willing to sacrifice national interests for global growth; nor are their leaders able—or willing—to sell the idea of pursuing a global agenda of prosperity to their citizens. Combining historical analysis with current affairs, economist Stephen D. King provides a provocative and engaging account of why globalization is being rejected, what a world ruled by rival states with conflicting aims might look like, and how the pursuit of nationalist agendas could result in a race to the bottom. King argues that a rejection of globalization and a return to “autarky” will risk economic and political conflict, and he uses lessons from history to gauge how best to avoid the worst possible outcomes.
Navigate the economy with this insightful new book The world is awash with economic information. Governments release reports. Pundits give their interpretation on television. And the stock market may go its own way, confusing everyone. How can you better understand what it means for you? Big Picture Economics, a new book by award-winning columnist and futurist Joel Naroff and veteran journalist Ron Scherer, says the thread that ties everything together is "context." The authors show how consumers, business, the Federal Reserve, and government take into account what's going on around them to make critical decisions like buying new products, building new factories, changing interest rates, or setting budget goals. The book provides a clear roadmap to understanding the whole story behind the global economy. Big Picture Economics helps readers understand how context impacts decisions and decision makers. - The Federal Reserve and Congress in formulating economic policy - Consumers in a shopper nation and what makes us buy or not buy - Corporations making decisions on whether to build new factories and buy other companies - The federal budget that must deal with complex issues, including the reduction of health care spending - A simple test for tax cuts or increases: will they help the economy grow? - Where to produce and where to sell in a global economy that is more like a Mobius strip than a flat world - International events that can ripple through the economy and ultimately affect workers in the Midwest - Technology, such as intelligent drones to wearable computers, are changing the future Experts laud the book for its perceptive insights: "It all sounds like common sense, but it is actually based on a close, expert reading of economic history and what that history implies for the future. Read this book to become a more educated judge of economic policy." —Robert Moffitt, Krieger-Eisenhower Professor of Economics at Johns Hopkins University "Naroff and Scherer show how seemingly unrelated things like an upgrade of the Panama Canal, a Tex-Mex restaurant's menu change, or how many Americans are overweight turn out to be intricately linked to our daily experiences. What brings the book to life is the authors' focus on these hidden interconnections." —Brendan Conway, blogger and columnist, Barron's
In a turbulent global economy, the popular idea of declining farms and factories is largely unfounded. UN and World Bank data show growing output everywhere, but it remains hidden by the faster-growing service sector. Engineers, programmers, surgeons, and pilots make up an increasing share of what is actually the service sector, showing that this sector is not in decline. There is no doubt that industries are shifting, but how does it all add up? Quantifying these technology-driven shifts is fundamental, yet such publication has lagged for years, with stale ideas about what makes a healthy economy persisting since the 1940s. In this new work, Atikian gives us a freshly updated overview countering our tired assumptions about off-shoring, low wages, and industrial decline and providing us with...some fact based confidence in the economy.
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?).