Economics Explained: Everything You Need to Know About How the Economy Works and Where It's GoingIn its fourth edition, Economics Explained continues its announced purpose -- to explain that mysterious thing called economics. But there is a new urgency to the book. It is announced in the first sentence of the introduction: "Just in case the reader-to-be hasn't noticed, disturbing things are going on in the American economy these days." This new edition is about these disturbing things: a trend toward inequality of incomes, the appearance of a new "globalized" capitalism, the "specter" of inflation. As before, Robert Heilbroner and Lester Thurow treat these problems in language that seeks to make clear their causes and treatments. In this straightforward, highly accessible reference, Heilbroner and Thurow -- two of America's most respected and articulate economists -- offer all the economics essential for becoming an effective investor, a savvy business decision maker, or simply an informed member of society. |
From inside the book
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Contents
Four | 28 |
MacroeconomicsThe Analysis of Prosperity and Recession | 69 |
Eleven | 132 |
MicroeconomicsThe Anatomy of the Market System | 141 |
Fifteen The Specter of Inflation | 177 |
Sixteen The Inequality Problem | 186 |
Common terms and phrases
abroad Adam Smith American amount answer big business bonds borrowing bought buyers called capital capitalist cash chapter checks companies competitive consumer consumption corporations cost countries currency debt deficit demand dollar earnings economic economists effect employment equipment expenditures exports factors of production families Federal Reserve firms force foreign exchange foreign exchange market globalization gold government bonds government spending gross domestic product growth household important income increase individuals industrial inflation inflationary investment John Maynard Keynes Keynes labor look macroeconomics market system Marx Marx's means ment million multinational nomic oligopoly output percent plant policies political pollution problems production profits question regulation reserve ratios result rise savings sell sellers social society supply supply and demand things tion transfer payments U.S. dollars United wages wealth workers