Cargando…
Economics in two lessons : why markets work so well, and why they can fail so badly /
A masterful introduction to the key ideas behind the successes--and failures--of free-market economicsSince 1946, Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of every...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Princeton, New Jersey :
Princeton University Press,
[2019]
|
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Lesson 1, part I. The lesson : Market prices and opportunity costs : What is opportunity cost? ; Production cost and opportunity cost ; Households, prices, and opportunity costs ; Lesson one ; The intellectual history of opportunity cost
- Markets, opportunity cost, and equilibrium : TISATAAFL (There is such a thing as a free lunch) ; Gains from exchange ; Trade and comparative advantages ; Competitive equilibrium ; Free lunches and rents ; Adam Smith and the division of labor
- Time, information, and uncertainty : Interest and the opportunity cost of (not) waiting ; Information ; Uncertainty
- Lesson 1, part II. Applications : Lesson one: how opportunity cost works in markets : Tricks and traps ; Airfares ; The cost of (not) going to college ; An exception that proves the rule: the boom and bust in law schools ; TANSTAAFL: what about "free" TV, radio, and internet content?
- Lesson one and economic policy : Why price control doesn't (usually) work ; To help poor people, give them money ; Road pricing ; Fish and tradable quota ; A license to print money: property rights and telecommunications spectrum ; Concluding comments
- The opportunity cost of destruction : The glazier's fallacy ; The economics of natural disasters ; The opportunity cost of war ; Technological benefits of war?
- Lesson 2. part I. Social opportunity costs : Property rights and income distribution : What lesson two tells us about property rights and income distribution ; Property rights and market equilibrium ; The starting point ; Property rights and natural law ; Pareto and inequality ; Conclusion
- Unemployment : Macroeconomics and microeconomics ; The business cycle ; The experience of the great and lesser depressions ; Are recessions abnormal? Unemployment and opportunity cost ; The macro foundations of micro ; Hazlitt and the glazier's fallacy
- Monopoly and market failure : The idea of market failure ; Economics of size ; Monopoly ; Oligopoly ; Monopsony and labor markets ; Bargaining ; Monopoly and inequality
- Market failure: externalities and pollution : Externalities ; Pollution ; Climate change ; Public goods ; The origins of externality
- Market failure: information, uncertainty, and financial markets : Market prices, information, and public goods ; The efficient markets hypothesis ; Financial markets, bubbles, and busts ; Financial markets and speculation ; Risk and insurance ; Bounded rationality ; What bitcoin reveals about financial markets
- Lesson 2, part II. Public policy : Income distribution: predistribution : Income distribution and opportunity cost ; Predistribution: unions ; Predistribution: minimum wages ; Predistribution; intellectual property ; Predistribution: bankruptcy, limited liability, and business risk
- Income distribution: redistribution : The effective marginal tax rate ; Opportunity cost of redistribution: example ; Weighing opportunity costs and benefits ; How much should the top 1 percent be taxed? ; Policies for the present and the future ; Geometric mean
- Policy for full employment : What can governments do about recessions? ; Fiscal policy ; Monetary policy ; Labor market programs and the job guarantee ; One lesson economics and unemployment ; Summary
- Monopoly and the mixed economy : Monopoly and monopsony ; Antitrust ; Regulation and its limits ; Public enterprise ; The mixed economy ; I, pencil
- Environmental policy : Regulation ; Environmental taxes ; Tradeable emissions permits ; Global pollution problems ; Climate change ; Summary
- Conclusion.