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Economics Explained

Containing about 30 percent new material, this edition of ECONOMICS EXPLAINED offers readers not only an invaluable primer on economic theory, but a clear understanding of the causes and treatments of the problems confronting us today, as well as the possible risks and the potential rewards we face in the future. Previous Edition ISBN: 0671884220
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Table of Contents

Introduction I The Economic BackgroundOne Capitalism: Where Do We Come From?Two Three Great EconomistsThree A Bird's-Eye View of the EconomyFour The Trend of ThingsII Macroeconomics -- The Analysis of Prosperity and RecessionFive The GDPSix Saving and InvestingSeven Passive Consumption, Active InvestmentEight The Economics of the Public SectorNine The Debate About GovernmentTen What Money IsEleven How Money WorksIII Microeconomics -- The Anatomy of the Market SystemTwelve How Markets WorkThirteen Where Markets FailFourteen The Two Worlds of BusinessIV ProblemsFifteen The Specter of InflationSixteen The Inequality ProblemSeventeen GlobalizationEighteen National Policy in a Globalized WorldNineteen The Unfinished RevolutionIndex

About the Author

Robert Heilbroner, one of America's foremost economists, is the author of THE WORDLY PHILOSOPHERS and other books. Lester Thurow is the author of many books including Head to Head. He teaches at MIT.


Robert B. Reich, former Secretary of Labor and author of Locked in the Cabinet In this delightfully written primer, Heilbroner and Thurow sweep away the debris of economic theory to expose the political and social choices lying just below it. Ms. At last, a patient but not condescending, detailed but not recondite, conversational but not glib discussion of the factors and terms that any reader of the daily newspaper needs to understand. The Boston Globe An excellent course in the history of capitalism and socialism, of growth, progress, and decline.

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