Basic Economics: A Citizen's Guide to the Economy

Description

At last there is a citizen's guide to the economy, written by an economist who uses plain English. No jargon, no graphs, no equations. Yet this is a comprehensive survey, covering everything from rent control and the rise and fall of businesses to the international balance of payments.The purpose of Basic Economics is to enable people without any economic training to understand the way the economy functions-not only the American economy, but other economies around the world.Some of the clearest demonstrations of the role of prices, for example, come from economies in which prices are not allowed to function-with consequences which show just what those functions are and what happens when they are lacking.In the end, this is not a book from which to cram facts, but one from which to gain an understanding of the economy that will enable you to form your own conclusions on the basis of tested principles, rather than on the basis of emotion or rhetoric. That is the goal of the journey, but you should also enjoy the trip along the way. CONTENTS PREFACE ACKNOWLEDGEMENTS Chapter 1 What Is Economics? PART I: PRICES Chapter 2 The Role of Prices Chapter 3 Price Controls Chapter 4 An Overview PART II: INDUSTRY AND COMMERCE Chapter 5 The Rise and Fall of Businesses Chapter 6 The Role of Profits—and Losses Chapter 7 Big Business and Government Chapter 8 An Overview PART III: WORK AND PAY Chapter 9 Productivity and Pay Chapter 10 Controlled Labor Markets Chapter 11 An Overview PART IV: TIME AND RISK Chapter 12 Investment and Speculation Chapter 13 Risks and Insurance Chapter 14 An Overview PART V: THE NATIONAL ECONOMY Chapter 15 National Output Chapter 16 Money and the Banking System Chapter 17 The Role of Government Chapter 18 An Overview PART VI: THE INTERNATIONAL ECONOMY Chapter 19 International Trade Chapter 20 International Transfers of Wealth Chapter 21 An Overview PART VII: POPULAR ECONOMIC FALLACIES Chapter 22 “Non-Economic” Values Chapter 23 Prices and Purchasing Power Chapter 24 Business and Labor Chapter 25 An Overview SOURCES INDEX A B C D E F G H I J K L M N O P Q R S T U V W Y Z