This short book explores a core group of 40 topics that tend to go unexplored in an Introductory Economics course. Though not a replacement for an introductory text, the work is intended as a supplement to provoke further thought and discussion by juxtaposing blackboard models of the economy with empirical observations.
Economists seem to be everywhere in the media these days. But what exactly do today's economists do? What and how are they taught? Updating David Colander and Arjo Klamer's classic The Making of an Economist, this book shows what is happening in elite U.S. economics Ph.D. programs. By examining these programs, Colander gives a view of cutting-edge economics--and a glimpse at its likely future. And by comparing economics education today to the findings of the original book, the new book shows how much--and in what ways--the field has changed over the past two decades. The original book led to a reexamination of graduate education by the profession, and has been essential reading for prospective graduate students. Like its predecessor, The Making of an Economist, Redux is likely to provoke discussion within economics and beyond. The book includes new interviews with students at Harvard, Princeton, Stanford, MIT, Chicago, and Columbia. In these conversations, the students--the next generation of elite economists--colorfully and frankly describe what they think of their field and what graduate economics education is really like. The book concludes with reflections by Colander, Klamer, and Robert Solow. This inside look at the making of economists will interest anyone who wants to better understand the economics profession. An indispensible tool for anyone thinking about graduate education in economics, this edition is complete with colorful interviews and predictions about the future of cutting-edge economics.
The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization. This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists. A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.
A passionate and informed critique of mainstream economics from one of the leading economic thinkers of our time This insightful book looks at how mainstream economics’ quest for scientific certainty has led to a narrowing of vision and a convergence on an orthodoxy that is unhealthy for the field, not to mention the societies which base policy decisions on the advice of flawed economic models. Noted economic thinker Robert Skidelsky explains the circumstances that have brought about this constriction and proposes an approach to economics which includes philosophy, history, sociology, and politics. Skidelsky’s clearly written and compelling critique takes aim at the way that economics is taught in today’s universities, where a focus on modelling leaves students ill-equipped to grapple with what is important and true about human life. He argues for a return to the ideal set out by John Maynard Keynes that the economist must be a “mathematician, historian, statesman, [and] philosopher” in equal measure.
With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.
The gap between important real-word problems and the workhorse mathematical model-based economics being taught to students has become a chasm. This book examines what economists need to bring to their jobs, and the way in which economics education in universities could be improved to fit them better for the real world.
During a time of accelerating momentum for radical change in the study of economics, 'A Guide to What's Wrong with Economics' comprehensively re-examines the shortcomings of neoclassical economics and considers a number of alternative formulations.
“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
