Common Sense Economics
What Everyone Should Know About Wealth and ProsperityBook - 2010
"The authors tell us what everyone should know about economics in language we can all understand. It's refreshing when four of the best in the profession avoid the all-too-common practice of writing in a code that only other economists can comprehend." ---Robert McTeer, former president of the Federal Reserve Bank of Dallas
With the global economy recovering from a steep recession, those who fail to grasp basic economic principles such as gains from trade, the role of profit and loss, and the secondary effects of government spending, taxes, and borrowing risk falling behind in their professional careers--even their personal lives. Common Sense Economics discusses key principles and uses them to show how to make wise personal and policy choices.
This new edition of a classic from James D. Gwartney, Richard L. Stroup, Dwight R. Lee, and Tawni H. Ferrarini, with reflections on the recent recession and the policy response to it, illuminates our world and what might be done to make it better.
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"You can profit from this book regardless of your current knowledge of economics. This book will introduce a beginner to the basic principles of economics, principles that mainly reflect common sense. By these concepts are powerful tools for logical thinking that will quickly make it possible for even beginners to distinguish between sound economics and romantic nonsense. This book will also help more advanced students of economics and business pull together the big picture" (Common Sense Economics ix).
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