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Economics: An Introduction to Traditional and Progressive Views


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Foreword by Robert Pollin; Acknowledgments; Preface; Part I. Economics of History and History of Economics; Section 1. The Long Road to Capitalism; 1. Prehistoric Communal Institutions in the Middle East; 2. Communal Equality to Slavery in The Middle East; 3. Slavery to Feudalism in Europe; 4. Feudalism and Paternalism in England; 5. Feudalism to Capitalism in England; 6. Mercantilism in England; 7. Pre-Capitalism to Industrial Capitalism in the United States, 1776-1865; Section 2. Capitalism, Its Defenders, and Its Critics; 8. Classical Liberalism: Defense of Industrial Capitalism; 9. Socialist Protest Against Industrial Capitalism; 10. Marx: Critique and Alternative to Capitalism; 11. Rise of Corporate Capitalism in the United States, 1865-1900; 12. Neoclassical Economics: Defense of Corporate Capitalism; 13 Veblen: Critique of Corporate Capitalism; 14. War and the Great Depression in the United States, 1900-1940; 15. Keynes and the Great Depression; 16. The United States and Global Capitalism, 1940-2006; Part II. Microeconomics: Prices, Profits, and Poverty; Section 1. Introduction; 17. Robinson Crusoe: Two Perspective on Microeconomics; Section 2. Elements of Progressive Microeconomics; 18. The Two Americas: Inequality, Class, and Conflict; 19. Inequality, Exploitation, and Economic Institutions; 20. Prices, Profits, and Exploitation; 21. Market Power and Global Corporations; Section 3. Applications of Progressive Microeconomics; 22. Economics of Racial and Gender Discrimination; 23. Environmental Devastation; 24. Government and Inequality; 25. Economic Democracy; Section 4. Elements of Neoclassical Economics; 26. Scarcity and Choice: Neoclassical View; 27. Simple Analytics of Supply and Demand; 28. Consumption Theory: Demand; 29. Production Theory: Supply; 30. Costs of Production; 31. Work and Wages: Neoclassical View of Income Distribution; Section 5. Neoclassical Approach to Market Structure and Market Failure; 32. Prices and Profits in Pure Competition; 33. Monopoly Power, Prices, and Profits; 34. Monopolistic Competition and Oligopoly; 35. Market Failures: Public Goods, Market Power, and Externalities; Part III. Macroeconomics: Growth and Instability; Section 1. Aggregate Supply and Demand; 36. History of Business Cycles and Human Misery; 37. National Income Accounting: How to Map the Circulation of Money and Goods; 38. Money and Profit: Say's Law and Institutionalist Criticism; 39. Neoclassical View of Aggregate Supply and Demand; 40. Keynesian View of Aggregate Supply and Demand; Section 2. Understanding Instability; 41. How to Measure Instability; 42. Consumer Spending and Labor Income; 43. Investment Spending and Profit; 44. The Multiplier; 45. Business Cycles and Unemployment; 46. Growth; Section 3. Government Fiscal Policy; 47. Fiscal Policy; 48. Government Spending and Taxes; Section 4. Money and Monetary Policy; 49. Money, Banking, and Credit; 50. Inflation; 51. Monetary Policy; Part IV. International and Global Policy; 52. Exports and Imports; 53. International Trade, Investment, and Finance: How Instability Spreads Around the World; 54. Debate on Globalization; 55. Debate on Free Trade; 56. Development.

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