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Common Sense Economics

What Everyone Should Know About Wealth and Prosperity

ebook
1 of 1 copy available
1 of 1 copy available

With the global economy recovering from a steep recession, and with that recovery challenging our long-held ideas about what careers and the market can be, learning the basics of economics has never been more essential. Principles such as gains from trade, the role of profit and loss, and the secondary effects of government spending, taxes, and borrowing risk continue to be critically important to the way America's economy functions, and critically important to understand for those hoping to further their professional lives - even their personal lives. Common Sense Economics discusses key points and theories, using them to show how any reader can make wiser personal choices and form more informed positions on policy.
Now in its third edition, this fully updated classic from James D. Gwartney, Richard L. Stroup, Dwight R. Lee, and Tawni H. Ferrarini reflects on the recession and the progress that's been made since the crash; it offers insight into political processes and the many ways in which economics informs policy, illuminating our world and what might be done to make it better.

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    • Library Journal

      September 1, 2010

      It is nearly impossible to boil economics down to a few essential statements. Yet Gwartney (economics, Florida State Univ.; Economics: Private and Public Choice), Richard L. Stroup (economics, adjunct, North Carolina State Univ.; Eco-Nomics), Dwight R. Lee (economics, Southern Methodist Univ.; Getting Rich in America), and Tawni H. Ferrarini (economics, Northern Michigan Univ.) distill the core principles of "common sense economics." People earn money by helping others; governments help people by protecting their lives, liberties, and property--these are some of the basic ideas highlighted here in crisp, logical writing. The authors bring to light both the self-stabilizing genius of the free market and the absurdities of politically driven economic policies with "crony capitalism" that often ensue. Two surprising inclusions are the "economic bill of rights" and the chapter on personal finance. The former, written in the language of a constitutional amendment, seeks to clarify the narrow role of the U.S. government in economic affairs, while the latter is a distinctly practical financial responsibility guide. VERDICT Though Common Sense is not an in-depth analysis of economics, economics students and professors, as well as general readers, will benefit from reading this introduction to general economic principles. Highly recommended as a primer.--Jekabs Bikis, Dallas Baptist Univ.

      Copyright 2010 Library Journal, LLC Used with permission.

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  • Kindle Book
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Languages

  • English

Levels

  • Lexile® Measure:1280
  • Text Difficulty:10-12

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