America's government intervenes in almost every aspect of its citizens' daily lives. From the air we breathe, to our health, wealth, and security, Americans wade through a vast political ocean. Unfortunately, we do so blindly; few Americans understand how or why our government regulates the market mechanisms that surround us. In Markets and Majorities, Steven Sheffrin addresses essential yet overlooked questions about political intervention in economic spheres. Why should we trust the government to clean our air? How do we know what to define as clean? What kind of health insurance business will the government run? What are the dangers of publicly financed doctors? Sheffrin first explains traditional theories of market failure, used to justify intervention. He then combines the crucial question of political viability with the fascinating particulars of policy histories. Sheffrin applies such analysis to the areas of health care, social security, environmental policy, product liability, trade policy, and fiscal and budgetary policy. He argues that beneath each area lies a unique calculus of market failure and political pressures, and convincingly demonstrates that no single policy can be understood out of economic and political context. In short, the fact that markets may fail does not guarantee that politics will succeed. By examining both sides of each policy area, Sheffrin's careful review of our national policy-making reveals a minefield where, in many cases, politics cannot help but fail as badly as markets. However, he shows that all is not lost, citing, among other examples, political intervention in the medical industry as the only hope of stopping hospitals from competitive purchases of useless technology. Markets and Majorities is must reading for anyone who has ever wondered why government just can't seem to get things done, as well as anyone who has asked why it should try in the first place.

Markets and Majorities

Business & Money

Sheffrin, Steven M.

Economics

Free Press

By emphasizing the five key principles, this book teaches readers how to think like economists by showing them how to use economic concepts in their everyday lives and careers. The authors make the material both accessible and motivating by using key concepts repeatedly, illustrating them with compelling real-world examples, and giving readers lots of practice at ?Active Learning;? doing their own economic analysis. The focus on the five key principles of economics throughout the book includes: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and 5) The Reality Principle (distinguishing real from nominal magnitudes). Returning to these principles repeatedly explains the logic of economic reasoning and demystifies the tools of economics. For anyone who wants to see the relevance of economics in their life, career, and future.

Economics Principles and Tools

O'Sullivan,Arthur

Pearson College Div

(Pearson Education) Contains the five key principles of economics. Provides the user with the big picture, the framework of economic reasoning. Illustrations with examples are included. Softcover. DLC: Microeconomics.

Microeconomics: Principles and Tools

This modern principles book has a strong foundation in demand and supply—the most important topic in learning principles of economics. Its improved coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables learner to better visualize and truly understand the difference between these two fundamental concepts. A seven-part presentation covers an introduction and key principles; the basic concepts in macroeconomics; the economy in the long run; economic fluctuations; inflation, unemployment, and economic policy; and the international economy. For individuals using the tools of economics to help them grasp the logic of economic reasoning.

Macroeconomics: Principles and Tools (3rd Edition)

This modern principles book has a strong foundation in demand and supply—the most important topic in learning principles of economics. Its improved coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables learners to better visualize and truly understand the difference between these two fundamental concepts. Early coverage of comparative advantage and externalities reflects a more modern approach to comprehending the underpinnings of microeconomics. A six-part presentation covers an introduction and key principles, closer look at supply and demand, market structures and pricing, spillovers and information, the labor market and economic challenges, and the international economy. For individuals using the tools of economics to help them grasp the logic of economic reasoning.

Microeconomics: Principles and Tools (3rd Edition)

Finely focused on the key principles--and written in a way that makes even cutting-edge concepts seem easy--this book teaches readers how to think like economists by showing them how to use economic concepts in their everyday lives and careers.   Hands-on and practical in approach, the book features hundreds of lively real-world examples, integrates global material throughout, and engages readers interactively through Economic Detective exercises, Using the Tools exercises, and Economics Experiments (in which readers role-play as consumers, producers, and policy makers). An accompanying CD-ROM features a tutorial walk-through of the key graphs in the book, and a Graph Builder application that allows readers to manipulate variables in the 60 key graphs from the book and note the changes and effects.    For anyone needing an accessible, comprehensive introduction to economics.

Macroeconomics: Principles and Tools with Active Learning CD (2nd Edition)

This interactive student CD-ROM includes a tutorial walk-through of the key graphs in the text and self-assessment quizzes for each chapter. Also featured on the CD-ROM are more than 60 Active Graphs selected from key figures in the text (and referenced with an icon) which allow students to manipulate variables in the graphs and note the changes and effects.

Economics: Principles and Tools with Active Learning CD-ROM (2nd Edition)

PRENTICE/HALL

Finely focused on the key principles--and written in a way that makes even cutting-edge concepts seem easy--this book teaches readers how to think like economists by showing them how to use economic concepts in their everyday lives and careers. Hands-on and practical in approach, the book features hundreds of lively real-world examples, integrates global material throughout, and engages readers interactively through Economic Detective exercises, Using the Tools exercises, and Economics Experiments (in which readers role-play as consumers, producers, and policy makers). An accompanying CD-ROM features a tutorial walk-through of the key graphs in the book, and a Graph Builder application that allows readers to manipulate variables in the 60 key graphs from the book and note the changes and effects. For anyone needing an accessible, comprehensive introduction to economics.

Microeconomics: Principles and Tools with Active Learning CD (2nd Edition)

Repeatedly emphasizing five key principles related to opportunity cost, marginal benefits relationship to marginal cost, diminishing returns, cost and benefits spillover, and the real value of money or income; this text introduces students to basic theories and methods of economics. Chapters discuss market equilibrium, measuring responsiveness, production and cost, monopolies, public goods, the labor market, unemployment and inflation, economic growth, aggregate supply and demand, Keynesian economics, the banking system and the Federal Reserve, monetary policy and inflation, and international trade and finance. The CD-ROM contains self-assessment quizes, tutorial walk-throughs of key graphs, and a graph builder application. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Survey of Economics: Principles and Tools

Economics: Principles in Action

O*Sullivan

Teen & Young Adult

Pearson\Prentice Hall

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