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“John Tamny is a one-man antidote to economic obfuscation and mystification.” —George Will, Nationally Syndicated Columnist “In spirit, Tamny does for economics what the Gutenberg printing press did for the Bible, making a previously inaccessible subject open to all. Equally important, he does to economists what Toto did to the Wizard of Oz: pulling aside the curtain to expose the fraud that has become modern economics.” —Steve Forbes, Chairman and Editor-in-Chief, Forbes Media “Ignore John Tamny’s easy to read Popular Economics at your own moral peril. It’s as close to spiritual as you get in this realm—a better tutorial than any econ text.” - Ken Fisher, Founder & CEO, Fisher Investments “John’s book is many things. It’s a great way to learn economics, it’s a very strong case for economic liberty, and it is an epic myth-buster. I will be giving it out to friends, of all viewpoints, for a long, long time.” - Cliff Asness, Managing Principal, AQR Capital ECONOMICS 101 In Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You About Economics (Regnery Publishing; April 13, 2015; $27.99) Tamny translates the so-called difficult and intimidating subject of economics into plain language, revealing that there is nothing mysterious about finance, commerce, and budgets. In fact, we are all microeconomists in our daily lives. “Economics is easy, and its lessons are all around us,” says Tamny. “But Americans have allowed the so-called ‘experts’ to convince them they can’t understand, much less grow the economy. Happily, economic growth is simple, too. If you can understand the four basic elements of economic growth—taxes, regulation, trade, and money— prosperity will explode.” Much like Freakonomics, Tamny uses pop culture and engaging stories to illustrate how understanding our economy is common sense—just look no further than the movies we enjoy, the sports we watch, and what we do every day. In Popular Economics, you’ll discover: How Paris Hilton and the Dallas Cowboys help illustrate good and bad tax policy How Facebook and Monday Night Football demonstrate the debilitating effect of antitrust regulation How the simple act of cooking chicken wings reveals why the “floating dollar” is a recipe for disaster Why Downton Abbey and ESPN are evidence that the U.S. should bulldoze its tax code
As the most successful sitcom of all time, the television series Seinfeld provides a rich environment for learning basic economic principles. Chronicling the lives of four close friends—Jerry, George, Elaine, and Kramer—the show highlights human behavior at its best and its worst. The major characters paint themselves as some of the most self-interested individuals in all of popular culture, and are faced with dilemmas that force them to make decisions. Those decisions are at the heart of economics. Each chapter in this book explores one or more key economic concepts and relates them to key scenes from the show. These principles are then applied to other real-world situations, arming readers with the tools needed to make better economic decisions. Written in a light-hearted and conversational style, this book is a must-read for fans of Seinfeld and anyone who wants to learn something from "the show about nothing." It is an ideal supplement for all economics classes.
This book provides an in-depth look at the primary foundations of economics explored through the lens of the Pawnee Department of Parks and Recreation. Each episode of the hit television series, Parks and Recreation, includes material to help an eager learner understand the basics of one of the most fascinating fields of study. Whether you’ve wondered how economists determine specialization or why fast-food restaurants continue to pop up around your neighborhood, the same situations have occurred in Pawnee. Each chapter highlights key scenes or major episodes that demonstrate how the characters experience economics in exactly the same way the rest of us do. This text primarily builds on the debates that take place between Leslie, Ron, and their co-workers, while also exploring key questions such as whether governments should try to help people through direct intervention or sell off all the swings to private corporations and let businesses handle day-to-day decisions. Learn how incentives can make Jerry appear to be a more productive employee short-term, but end up causing chaos. Do you wonder what it would be like to live in the early 1800s? Thankfully Leslie has already done that for us. This book is a must-read for anyone looking for a fun way to learn the principles of economics, including as a supplementary text, and for all fans of Parks and Recreation. Take the advice of Tom and Donna and treat yo’ self to this key read.
"Economics is too important to be left to the economists. This concise and readable book provides non-specialist readers with all the information they need to understand how capitalism works (and how it doesn't). Economics for Everyone, now published in second edition, is an antidote to the abstract and ideological way that economics is normally taught and reported. Key concepts such as finance, competition and wages are explored, and their importance to everyday life is revealed. Stanford answers questions such as 'Do workers need capitalists?', 'Why does capitalism harm the environment?', and 'What really happens on the stock market?' The book will appeal to those working for a fairer world, and students of social sciences who need to engage with economics. It is illustrated with humorous and educational cartoons by Tony Biddle, and is supported with a comprehensive set of web-based course materials for popular economics courses."--Publisher's description.
A lively, accessible, and timely guide to Marxist economics for those who want to understand and dismantle the world of the 1%. Economists regularly promote Capitalism as the greatest system ever to grace the planet. With the same breath, they implore us to leave the job of understanding the magical powers of the market to the “experts.” Despite the efforts of these mainstream commentators to convince us otherwise, many of us have begun to question why this system has produced such vast inequality and wanton disregard for its own environmental destruction. This book offers answers to exactly these questions on their own terms: in the form of a radical economic theory. “Thier’s urgently needed book strips away jargon to make Marx’s essential work accessible to today’s diverse mass movements.” —Sarah Leonard, contributing editor to The Nation “A great book for proletarian chain-breaking.” —Rob Larson, author of Bit Tyrants: The Political Economy of Silicon Valley “Thier unpacks the mystery of capitalist inequality with lucid and accessible prose . . . . We will need books like A People’s Guide to help us make sense of the root causes of the financial crises that shape so many of our struggles today.” —Keeanga-Yamahtta Taylor, author of Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership “Ranging from exploitation at work to the operations of modern finance, this book takes the reader through a fine-tuned introduction to Marx’s analysis of the modern economy . . . . Thier combines theoretical explanation with contemporary examples to illuminate the inner workings of capitalism . . . . Reminds us of the urgent need for alternatives to a crisis-ridden system.” —David McNally, author of Blood and Money
Why has an economy that has done so many things right failed to grow fast? Under-Rewarded Efforts traces Mexico’s disappointing growth to flawed microeconomic policies that have suppressed productivity growth and nullified the expected benefits of the country’s reform efforts. Fast growth will not occur doing more of the same or focusing on issues that may be key bottlenecks to productivity growth elsewhere, but not in Mexico. It will only result from inclusive institutions that effectively protect workers against risks, redistribute towards those in need, and simultaneously align entrepreneurs’ and workers’ incentives to raise productivity.
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.
Best-selling books such as Freakonomics and The Undercover Economist have paved the way for the flourishing economics-made-fun genre. While books like these present economics as a strong and explanatory science, the ongoing economic crisis has exposed the shortcomings of economics to the general public. In the face of this crisis, many people, including well-known economists such as Paul Krugman, have started to express their doubts about whether economics is a success as a science. As well as academic papers, newspaper columns with a large audience have discussed the failure of economic to predict and explain ongoing trends. The emerging picture is somewhat confusing: economics-made-fun books present economics as a method of thinking that can successfully explain everyday and "freaky" phenomena. On the other hand, however, economics seems to fail in addressing and explaining the most pressing matters related to the field of economics itself. This book explores the confusion created by this contradictory picture of economics. Could a science that cannot answer its own core questions really be used to explain the logic of everyday life? This book was originally published as a special issue of the Journal of Economic Methodology.
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.
From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.