Product Description
Economics Made Easy Economics: A Self-Teaching Guide is back in a new and revised edition to help you teach yourself introductory economics quickly and painlessly. Using the most up-to-date information, this new edition gives you a clear picture of the way our economy works. Essential math and analysis skills are presented right at the beginning, so you can understand principles and equations from the start—without a lot of struggle. Whether you use it as an introduction, a review, or a supplement to other materials, Economics: A Self-Teaching Guide, Second Edition is the perfect resource for anyone exploring basic economics. In clear, easy-to-follow language, Steve Slavin covers every aspect of the U.S. economy, including a historical review, resources, macro- and micro-economics, gross domestic product, the economic sectors, inflation and unemployment, fiscal policy, banking and monetary policy, economic theory, supply and demand, and much more. To help you to gauge your understanding of the material, exercises are provided throughout the book and a self-test at the end of each short section sums up all you have learned. With the help of Steve Slavin, economics is no longer a mystery—it’s a fascinating realm of exploration and discussion. ... Read more

Customer Reviews (8)

Very easy to read
I am using this book for a foundational economics class in grad school, and I'm amazed at how easy it is to read. The author is almost too casual - it catches me by surprise time and time again! But the shift to such a casual approach is a breath of fresh air compared to other required school textbooks.

Excellent Primer: Pleasant Read without a Text Book feel
I have not read an economics book in years but I found this book an excellent primer/refresher. The book breaks down numbers to a rather elementary level, almost too elementary, in order to teach at all levels but the more knowledgable can skip over that and move on through the book. Excellent graphs and examples, no laboriously written detail, straight forward and a very entertaining writing style. Nicest thing about this book, you can blaze through the material while getting a solid grasp. Not for the experienced but a great introduction for young students or for the old hand trying to get a solid refresher. The book also is a very pleasant read without a text book feel.

Love These Guides
This is a great series. More than a book, it's a mini-course in economics. If you have never studied economics, but suddenly need to know the basics (like me) then this is an excellent place to start.

Make no mistake, you have to do the work- you can't just sit back and read. The self-tests throughout each chapter are what make sure you have been paying attention and have grasped the material. You need a bit of discipline to get through. When you do finish, you'll know as much as anyone who has just finished an introductory economics course (as long as you stay on schedule and manage to finish in 1~2 months).

I would recommend this book (or any title in this series) to anyone who needs a basic grasp without formal study, or to someone who is considering going back to school but is not sure if they should take the plunge. Better to start off by paying the price of a book than to commit to a formal (and expensive) course.

good for all beginners
Very simple and easy to understand. This book is great for the MacroEconomics clep test. It gives an overview of MicroEconomics (about 25% of the book), but probably wouldn't be enough for a MicroEconomics clep. Definitely worth buying if you want a good basic overview of Economics.

Craving Straight Facts
I am a Mechanical Engineer with a BSME and minor in Naval Science.My BSME studies required I take eight credits in Economics, in which I did well.But this book surpassed those studies in many ways by dealing straight-away with the basic concepts of world economy, practical theory, history, and practical application, in short... macro-economics;without bogging me down with excessive microeconomics.But ended well with an excellent rehash on microeconomics.The book reads fast for a study book, and the author is a refreshing writer, honest in opinion, but not over opinionated, of good humor.I answered all the questions in the back of each chapter.Felt like I took a no-sweat 3 credit cours.Now I'm ready to study economics in its many specialty subjects.Anyone who is considering economics study on a collegient level, should study this book first;then they'll know.I highly recommend this book. ... Read more

Product Description
Books in BarronÂ's Â"Business Review SeriesÂ" are intended mainly for classroom use. They make excellent supplements to main texts when included in college-level business courses. In adult education and business brush-up programs they can serve as main textbooks. All titles in this series include review questions with answers. This expanded, updated text explains plotting and understanding economic graphs, market equilibrium and the nature of the price system, macroeconomics, microeconomics, and the dynamics of international trade. ... Read more

Customer Reviews (14)

Economics
this book breaks down the priciple charts and concepts and explains economics in a way that anyone could understand it. I'll be getting the other books in this series by this publisher because of the quality of this text.

Excellent Desk Reference
If you are looking for an excellent supplement to required college texts, Barron's Economics is a reference that belongs in any student's library. It is well-organized, succinct, and contains well-written chapters that provide both an overview and review questions to ensure the user understands the concepts.

excellent
Received the book in expected time of delivery.
the book is is in excellent condition.

Good Referece
This is a good reference book.The best part is that it is not intended to be a text book.It gives you just what you may need and is well organized.

Barron's Economics
Barron's Economics provides a thorough overview of basic economic topics.It is easy to read and well organized. ... Read more

Product Description

Product Description

Customer Reviews (8)

A good primer on method and data collection
The most intriguing aspect of this well written book by two academic development economists is their discussion of the methods and materials they and other economists used in studying such issues as all pervasive corruption in Indonesia during the Suharto regime in Indonesia; how large scale smuggling from Hong Kong to Mainland China (entire container loads of goods falsely identified as holding similar but less taxed items) is done and why Botswana is the one of the few countries in sub-Sahara Africa to successfully deal with periodic drought, keeping it from impoverishing the rural population and freeing them from the "poverty trap" that characterizes so much of the rest of Africa.

Many will argue with their conclusions--for example the authors have a very different view of the result of corruption in Indonesia than does Ha-Joon Chang. Due most likely to a difference in approach, Fishman and Miguel look at it as an example of crony capitalism, showing how connections to Suharto were the most important factor in how the stock market valued on of the companies tied to him and his family. Chang's view is equally pragmatic but less moralizing. He compares the economic progress of Indonesia, one of the most populous and crowded countries on earth but one with significant natural resources, especially oil, with Zaire, now the Democratic Republic of the Congo, which has untold mineral wealth.

Suharto and his family controlled important and lucrative contracts for emerging technologies, like wireless phones and cable TV, as well as licenses to drill for oil. But they kept the resulting profits within the country, essentially re-investing their corruption fueled profits back into the local economy. In Zaire, kleptocrat-in-chief Mobuto not only demanded huge payoffs for the right to do business in his country but then sent billions to overseas bank accounts, robbing his nation and his subjects of any return for their work and investment.

The authors are too easy on the activities of the World Bank--on of them was a staff economist there for several years, painting the supranational body as one committed to the best for its client nations in the developing world, an argument with which William Easterly (among others) might not agree. This book is a decent starting place for those interested in how development economics works, why it often fails and some of the pitfalls that are faced in implementing what should be beneficial programs.

Investigative economists on the trail of gangsters
Behavioural economists have been bringing us a lot of interesting books recently, and this book continues that trend. There are numerous reasons why poor countries are poor, and grand corruption is one of them. The authors see themselves as investigative economists, engaging in forensic analysis of statistical evidence to track economic gangsters.

The book explains how Tommy Suharto, the former Indonesian president's son, made his money, how lucrative smuggling between Hong Kong and China has been, how the mayor of Bogota used embarrassment as a tool against lawlessness, the relationship between a country's corruption and the failure of the country's diplomats to respect parking laws, the relationship between drought and war, economic contributing factors to violent crimes, and many other interesting puzzles.

As the first chapter explains, there is no singular explanation for why poor countries are poor. That does not stop the authors from offering their own idea for tackling at least one aspect of poverty: Rapid ConflictPrevention Support, in which foreign aid provides a form of insurance to African farmers against a sudden drop in income attributable to drought or other adverse circumstances. This idea seems to have some merit, and the book is definitely entertaining to read.

Clever at points, but not consistently valuable
I started off thinking that maybe this book's title should be Gather Ye Data Where Ye May. It starts with a couple neat chapters where the authors try to measure various hidden variables -- how much one company's fortunes depend on connections to a dictator, say, or how much gets smuggled into a particular country. You can get a reasonable measure of smuggling by counting exports from one country and imports into another. The authorities only tax you on the way in, not on the way out, so you have every incentive to lie on the import forms and tell the truth about your exports. If 10,000 BMWs leave Hong Kong destined for China, and only 9,000 arrive in China having been shipped from Hong Kong, you can guess that about 1,000 BMWs were smuggled out of Hong Kong into China. Perhaps they were creatively relabeled `Hyundai,' thereby carrying a much smaller tariff burden.

The authors dig a bit deeper into the numbers and point out a loophole that nations ought to fill if they want to modernize their system of duties: give similar products similar tariffs. One example here is amusing: a "boring/milling machine -- numerically controlled" used to get a 10% tariff on its way into China, whereas a "boring/milling machine -- other" got a 20% tariff. People have every incentive to claim that their boring/milling machine -- other is actually a boring/milling machine -- numerically controlled. The closer the products are in appearance, the easier it is for importers to pass off the one as the other and evade the higher tariff. (The authors give us a thought experiment, wherein chickens and turkeys come in for different tariffs. I only wish this were real. It would make me smile.)

Next the authors ask: is there any way to measure how corrupt a nation is? They find a smirk-worthy means of measurement: look at how often diplomats pay their parking tickets. Diplomats, you'll remember from the Lethal Weapon movies, can wave diplomatic immunity around anything and magically get off scot-free. This includes parking violations. So find some place where a large number of diplomats congregate and see whether they pay their tickets even though they don't have to. As it happens, the UN fits the bill: New York City keeps detailed records about which ambassadors received citations, which nations they represent, how much they were fined, and whether they paid the bill. From this, Fisman and Miguel get a rough measure of corruption, which they can try to connect to other measures like the World Bank's.

Don't think for a moment that I take this particularly seriously, by the way. The "parking metric" is a rough measure, at best, of what you'd do if you knew no one was looking. What's vexing, then, is that the authors seem to take it quite seriously indeed. 40% further on in the book, we see Fisman and Miguel writing about Africa's history of extractive industries feeding nothing back to their people, "To the extent that stealing parking spots in New York City really is correlated with stealing government funds, Chad is in for trouble." This example just doesn't do much at all of the heavy lifting that they expect it to. The authors seem surprised that other researchers could have accomplished much without parking data: "Even without hearing of the wanton parking habits of Chad's diplomats, donor organizations were fully aware of the endemic corruption in Chad's government ...".

So maybe, goes the implication, nations remain poor because their people are fundamentally corrupt. Or maybe not: the next chapter considers the possibility that domestic instability -- civil wars, particularly -- result from drought. That is: the rain stops falling, and the only available work is in a gang. Not a terribly controversial idea. The authors' approach is novel: send in the peacekeepers when drought makes war look likely. Get a rapid-response team to stop wars before they start. There are unexpected curiosities here: during droughts, there's more witch-burning, and the witches tend to be old women. The authors speculate that this might be the survival instinct disguised as superstition: old women consume more resources, so they have to be the first to go. The policy response they propose here is old-age pensions: turn the women into village assets, rather than liabilities.

We might label the connection among all of these "discovering the economic gangster in all of us": under what circumstances would we become corrupt or join a militia or burn a "witch"? How bad would the world around us have to get? And how do we use this knowledge of human self-interest to prevent disaster? Economic Gangsters is a slight introduction to these questions, and didn't really feel solid enough to justify the time. I suspect there's a better book on the same topic out there.

Interesting research but could use a more thorough treatment
I enjoyed this book and I think the research is compelling.Aside from a chapter in the middle of the book that veers inexplicably into Bush-bashing, Economic Gangsters is well written and very accessible.It is clearly written to introduce their ideas to readers who may have little or no experience with economics and there is little math or mathematical theory involved.I managed to breeze through it in about a week of before-bed reading.

Interesting but not sparkling...
[Originally published at my blog, [...]

I read this book recently. The authors (Ray Fisman and Ted Miguel) are development economists at big schools (Columbia and UC Berkeley; Ted's in the econ department, but I see him and his RAs all the time), and they've written this book to give laymen some insight into the research we (economists) do and how that research can be used to advance development around the world.

Ray and Ted have structured their book around academic papers that they and their colleagues have written, omitting the tedious math and econometrics and adding explanations, stories and context to the questions at hand.

Relative to an economic textbook, this book is much more accessible and intuitive; relative to other development books (Easterly's Elusive Quest for Growth, Scott's Seeing Like a State, and even Perkins' Confessions of an Economic Hitman), this book is, uh, boring and overly didactic.

Yeah, sorry.*

Perhaps I am a jaded reader -- I've read about 2/3rds of the papers behind the book, and I've been "doing" development economics for 5-15 years (depending on who you ask) -- but the book only grabbed my interest a few times, e.g., the mayor of Bogota who used mimes to shame those breaking traffic laws. Put differently, I can think of better ways to spend your time.**

For those of you interested in the contents, here's a preview, chapter by chapter:

1) Economic development is impeded by corruption.
2) You can measure a company's political importance by watching its stock price when the corrupt dictator (Suharto in Indonesia) gets sick.***
3) You can detect corruption in the discrepancy between figures of the exporting country and importing country (e.g., Hong Kong to China). Distorted tariff and trade rules encourage corruption.
4) Some cultures are more corrupt than others. Ray and Ted discuss their brilliant paper, which showed that diplomats to the UN in NYC obeyed parking laws in rough proportion to their corruption at home (and attitudes towards the US) -- despite having the same immunity from prosecution. (I'm guessing that this paper was their book proposal.)
5) No water, no peace -- conflict rises when water supplies fall.**** Global warming will make this worse. Ray and Ted overlook an important problem in this chapter. They claim that the Rich world will not do too bad with climate change, but they forgot the adverse impact of a sick environment on quality of life.
6) When people are starving, they look for ways to reduce the demand for food. One way to do this is by finding and killing "witches". One way to stop the massacre of old women and children accused of witchcraft is to provide insurance against such risks, i.e., drought relief.
7) Countries can recover from war pretty quickly, but it's harder to recover from civil war or when ex-militants are left in unemployed groups. Vietnam succeeded; Iraq is failing.
8) Randomized trials (one village gets a new program, another "control" village is left alone) are a good way to evaluate anti-poverty programs.*****

Bottom Line: Anyone REALLY interested in development economics (but who is not an economist) should read this book. Everyone else should keep reading and debating at economics blogs :)

-------------------------------------

* And who am I, a lowly postdoc without a book to his name, to question the output of two superstar professors? Just me, folks...

** Listen to this great podcast [...], in which Richard Epstein discusses inequality and happiness.

*** Read this paper [...] to really understand how a developing country moves from the "Natural State" to the "Open Access Order."

**** Check out the updated Environment and Security Water Conflict Chronology" [...] from Peter Gleick's Pacific Institute for Studies in Development, Environment and Security (yes, that's the full name). It's pretty exhaustive, but it's also pretty inclusive (it includes incidents when one person is attacked, "perhaps" over water...)


***** I'm still amazed that a PhD student (Ben Olken) was given [...] to study corruption in Indonesian road building. Holy Cow! That's enough to fund 200 "normal" PhD research projects! ... Read more

Product Description
Distinguished economist Robert Frank uses hundreds of fascinating, unexpected examples of everyday paradoxes to explain the economics of the everyday world.

Why do the keypads on drive-up cash machines have Braille dots? Why are round-trip fares from Orlando to Kansas City higher than those from Kansas City to Orlando?

For decades, Robert Frank has been asking his economics students to pose and answer questions like these as a way of learning how economic principles operate in the real world--which they do everywhere, all the time.

Once you learn to think like an economist, all kinds of puzzling observations start to make sense. Drive-up ATM keypads have Braille dots because it's cheaper to make the same machine for both drive-up and walk-up locations. Travelers from Kansas City to Orlando pay less because they are usually price-sensitive tourists with many choices of destination, whereas travelers originating from Orlando typically choose Kansas City for specific family or business reasons.

The Economic Naturalist employs basic economic principles to answer scores of intriguing questions from everyday life, and, along the way, introduces key ideas such as the cost-benefit principle, the "no cash on the table" principle, and the law of one price. This is as delightful and painless a way to learn fundamental economics as there is. ... Read more

Customer Reviews (38)

Economics for real dummies
Had I only read the customer reviews before ordering this book...

The book is lacks depth and is full of flaws, the most apalling being the paragraph on Hindu movies. This is equvalent to the assumption that Russians speak Orthodox, English speak Anglican, or the people in Israel speak Jewish.

In some way it reminds of Bill Bryson's books: wittily written, but scientifically useless.

Average read
I had high hopes for this book when I bought it, as I heard that it was being taught in a Georgetown graduate level economics class. I had taken some economics classes in college, but wanted a fun, refresher read that applied these concepts to everyday situations.

I found it to be quite mediocre, both in content and style. The questions he asks, mostly collected from his students, are ones that we encounter in everyday life and make us go "aha" or "I had been wondering about that". For example, "why do female models make more money than male models?" or "why are milk containers rectangular and soda cans round?". While the questions are fun, the answers, unfortunately, are too general and elementary for a book claiming to teach economic concepts. If you feel intimiated by 'economics' perhaps this book can be a quick, easy, approachable read by providing economic concepts in familiar terms. For anyone who is well read, has some basic economics ideas, and is looking for an intelligent, engaging read, you are likely to be a bit bored and disappointed.

Good place to start
this is a good book to get an introduction to economics. It is an easy read.

Good Premise but so-so execution
Mr. Frank has a great premise. Short, snappy answers to common conundrums of every day life without getting bogged down by pages of formulas and graphs. His strongest point throughout the book was emphasizing the narrative as a device for teaching and communicating. While his questions are interesting, I found several of his explanations lacking in credibility, especially in areas where I have some expertise. I wish he had covered fewer questions but in more detail. His use of cartoons as leavening was perfect and very well-done but maybe adding a chart or two to help us understand in more detail some of the concepts he was conveying might have increased the insight.

Overall, I'm glad I read the book but I felt it was an appetizer and not the main entrée I had hoped it would be.

Useful, common sense, economic lessons
[...]

I assigned this book for the class that I am teaching in the fall at Berkeley. Although I had heard of it and know of Frank's work, I had not read it. Now that I have, I am glad that I chose this book for them.

Frank has been teaching introductory economics for many years, and over time he has put more emphasis on common sense and less emphasis on mathematics in his classes. He -- like Thomas Schelling (to whom the book is dedicated) -- is interested in "useful and believable" explanations for the behavior that we see around us.

Frank does not just put this ideal into practice in teaching and writing; he also encourages his students to step into the shoes of an economic naturalist -- by making part of their grade depend on a 500 word (2 page) essay answering an "interesting" question. (Nothing like grades to incentivize careful thought!)

This book is a collection of those essays, rewritten for consistency and clarity, and every page offers a new topic for thought, with a quick -- and generally believable -- explanation of the economics underlying the phenomenon of interest.

Thus, Frank (and his students) explain why taxi drivers quit early on rainy days (when they could make more money), why the rookie of the year often suffers the "sophomore slump," why Victoria's Secret debuts a new $500,000 jewel-encrusted bra each year that it never intends to sell, etc.

BOTTOM LINE: The 200 page book is easy to pick-up and start at any location, and anyone who masters its economics is likely to know more useful information that the average person with a PhD in economics. I give it four stars -- just so Frank has an incentive to work harder on his next book :) ... Read more

Product Description
This book reconsiders the field of health economics as it is traditionally taught and practiced. It critically examines economic theory as applied to the health sector and questions the prevailing belief that a competitive healthcare marketplace results in the best outcomes.

New information, including an overview of standard microeconomic theory, makes this new edition an ideal stand-alone text for health economics and health policy courses.

Expanded and thoroughly updated, this edition features: A new chapter on traditional microeconomic theory that includes an overview of demand, supply, competition, monopoly, and social welfare, an expanded overview of the role of government, added information about market competition and the implications for health policy, expanded information about the demand for health insurance and health services, a new chapter discussing for-profit versus nonprofit organizations in healthcare, including specialty hospitals and the nursing home and pharmaceutical industries, a new chapter on healthcare-workforce issues including the markets for physicians and nurses, an update on the different ways developed countries can and have organized their healthcare systems ... Read more

Customer Reviews (4)

Fast service/ good customer care
The book arrived quickly and as promised by seller. The book was assigned by professor who changed his mind. I returned the book and had no problem getting my account credited.
Good customer service.

Fair analysis
Rice strikes the critical balance between review, criticism and prescription of important topics in health care economics.For example, in chapter 5 he refers to the major contributions of libertarian (Nozick) utilitarian and normative (Rawls) thinkers on the question of health equality and health resource allocation.His prescription is relatively egalitarian, but he offers a thorough discussion of alternative ideas.His review of the details of health economics (and the unique challenges that health poses to anyone interested in treating it as a commodity) are insightful.An excellent reader for anyone interested in reconsidering the market model of health care.

Superb analysis
Dr. Rice's book is an outstanding analysis of the realities that exist within our competitive market economy.Other reviewers of this text have failed to comprehend the complexities inherent in health care and health economics.The competitive market economy in many instances works in opposition to issues of health, as Dr. Rice eloquently points out throughout his book, explaining many of the health policy dilemmas that our society is currently confronted with .

Fried Rice
Rice's primary purpose of this short book appears to be to counter Paul Feldstein's Health Care Economics text. Mr. Rice must have spent all weekend writing this disappointing book, which meanders through the whole spectrum of health care socialism. ... Read more

Product Description
The ultimate resource for understanding and interpreting important economic figures

Economic indicators are increasingly complicated to compute and comprehend. Yet in today's challenging economic environment, economic indicators are also more important than ever. This highly accessible seventh edition of the Guide to Economic Indicators presents the complicated subject of economic indicators in a conversational tone, helping readers to quickly gain an understanding of economic indicators, including why they're important, how to interpret them, and their reliability in predicting future economic performance. The book

• Describes how economic indicators can be manipulated to demonstrate almost any business cycle
• Examines how GDP, invisible balances, the terms of trade, and unemployment are used to interpret economic data
• Includes over ninety tables and charts

Fully updated and revised, the Guide to Economic Indicators, 7th Edition is an invaluable resource for anyone searching for a clear explanation of the world's underlying economic realities. ... Read more

Customer Reviews (5)

Nice handy guide
I wish I would have had it during Macroeconomics class for a reference.

A reference guide
I expected a guide that would assist in determining where we were in the business cycle. This wasn't really it. The book is structured more like an encyclopedia - analyzing each indicator in detail and in isolation. A fine addition to anyone's economic reference books, but disappointed me by failing to treat the economy as an organic whole.

If only economics were that easy
True to the style of The Economist, this book makes everything seem easier than it really is. However, for people who spend too much time thinking about economic issues, this is actually rather refreshing, much like a cold beer after a long day's work.

Some examples: "In the long term, the growth in economic output depends on the number of people working and output per worker (productivity)" (Page 41); Or "In general, the more optimistic consumers are, the more likely they are to spend money. This boosts consumer spending and economic output" (Page 93)...

...One begins to yearn for the days where economics was more of an explanatory and less a mathematical science.

The guide is divided into a number of chapters discussing issues and examples related to
- How economic activity is calculated, and what the main indicators GDP/GNP/NNI capture and do not capture, as well as what changes in these indicators or their components mean.
- Employment indicators such as employment by sector or the unemployment rate
- Balance of payments and fiscal indicators, such as tax revenue or budget deficit
- Consumer indicators, such as disposable income or consumer confidence and their significance
- Investment and savings indicators, such as investment intentions or sales/inventory ratios
- Business indicators, including business conditions, auto sales, construction orders and other common stats
- Exchange rates and financial market indicators, such as interest rates and money supply.
- Prices and wages, like the effect of oil price changes, among others

Coverage of the most common and widely available indicators is fairly comprehensive. Given the simplicity of the book, it is better to have a certain level of economic knowledge and opinion to be able to put the content in context. Not much different to reading The Economist, really.

A good reference guide for understanding economic indicators
The book itself will be of great use for those analysts who evaluatecountry risk analysis. Economic indicators sometimes tend to behard tounderstand, but this guide makes them easy to comprehend and relate to eachother.

A good purchase
As the title says, this book can help you make sense of economic indicators.The more you know, the easier it is for you to understand the economical aspects of society, and this seemed to add a lot more to myknowledge, and it clarified other thoughts. ... Read more

Product Description
KEY BENEFIT: The Economics of Public Issues 16e is a collection of brief, relevant readings that spark independent thinking.
KEY TOPICS: The Foundations of Economic Analysis; Supply and Demand; Labor Markets; Market Structures; Political Economy; Property Rights and the Environment; Globalization and Economic Prosperity
MARKET: For readers interested in applying theoretical discussions to today’s important issues and gaining a deeper understanding of current economic policy concerns.

... Read more

Customer Reviews (15)

Good Book
This book was really good in shape.It looked almost new.the only think I did not like was the shipment.It took about two almost three weeks to get to my door.I was needing it big time and it had still not arrived.I guess next time I will purchase my books earlier.

Learning to think like an economist
So much substance packed into this short space is admirable. All of the subjects brought up in this book go light years in helping the reader understand the economists side to the issues. Any student or citizen that reads this book even alone, will be leaps and bounds ahead of the average, indeed, even most elite intellectual voters.

like new
the book is kept in a very good condition, i think it's a new book

Economics of Public Issues [15th Edition]
A book which incorporates real life issues, values, and problems into economic terms. The authors chose subjects like ethanol, slavery and airplane safety and used these as a base to further explain how economics is used in our daily lives. An interesting book, one who hates the subject [economics] will be a little bit intrigued with a majority of the content. I, personally, hate economics but I found myself enjoying the book.

Great for a textbook
This book is by far the best textbook that I have had to read.The material is presented in real case studies so it reads more like a story than its more cut-and-dry counterparts. ... Read more

Product Description

Customer Reviews (7)

A must forpolicy makers
Read this book a while ago, and cannot recommend it enough! A true roadmap to aid and the pitfalls of trade as an indicator of general social well being.

4.5-Develops Adam Smith's model for creating national wealth
The author has written an excellent series of essays that essentially develop the details of Adam Smith's basic approach to the formation of wealth .The importance of basic institutions,such as the rule of law, an independent judiciary and police,the provision of basic infrastructure provided by a government not subject to bribery and corruption,an educated work force created by the provision of education for free for all those who can't afford it,etc.,is crucial.Economic growth is not possible without these basic prerequisites.
The author's economic solutions are in line with Smith's support for both retaliatory and revenue tariffs.Opening up an economy to foreign imports should be done invery slow gradations to make sure that the underdeveloped countries agricultural and industrial sectors are not crushed by giant multinational corporations attempting to institute trade relations based on absolute advantage, which is what has been going on for the last 30 years, at least as far as the policies of the World Bank,International Monetary Fund,Export -Import Bank amd World Trade Organization are concerned.
One can apply the basic model to Haiti.Economic growth in Haiti is an absolute impossibility as long as the Haitian government is controlled by a totally corrupt and rapacious upper class devoted to using government institutions and power to loot the country.The same holds for the Haitian army ,poloce force,judicial system and judges.All of these institutions would have to be eliminated first before any development plan could have any probability of working.Haiti has been a failed state for the last 60 years.

Summarizing the arguments
Though it's largely a reprinting of a group of previously published essays that fit well together, One Economics, Many Recipes: Globalization, Institutions, and Economic Growth by Dani Rodrik helped me understand how he would apply his principles of "diagnostic development." The first section (3 chapters) lays out the case that successful countries develop using different strategies that may or may not follow standard prescriptions, with the emphasis on NOT. This sets up the second section (2 lengthy chapters plus a very short summary) on what industrial policy and governance institutions look like in the context of diagnostic development. The final section - a little less-well integrated with the other two - expounds on the lessons of different policies for the case of globalization.

I find myself in large agreement with the overall diagnostic principle, which says that we as economists should identify the most binding constraints on an economy's growth and develop context-appropriate policies to deal with that particular constraint. He argues that one of three basic problems likely to lead to low investment: low social returns, low private appropriability of those returns, or high costs of finance. Each of these might have several causes. You go through the country's (or sector's) statistics to determine where the constraint is likely to be. If interest rates, capital account deficits, and the returns to investment are very high, like Brazil, it's probably the high cost of finance. He narrows it down further to the low availability of domestic savings. In El Salvador, on the other hand, interest rates and returns to human capital are low, taxes and corruption are low, there's macro stability and good property right protection ... leaving by a process of elimination that there is a lack of entrepreneurship and new ideas that is inhibiting growth there.

I'm more reticent to accept his push for industrial policy, however. While he can cite a number of successful cases where direct government support of a sector paid large developmental dividends, it seems as a practice to have as many failures as the Washington Consensus. In part he calls this a virtue: a government that has only successes probably hasn't been doing enough, he claims. I'm less convinced.

Among the things I liked from his discussion were the institutions that need to be in place in order for good outcomes to be more likely: "Effective industrial policy is predicated less on the ability to pick winners than on the ability to cut losses short once mistakes have been made," addressing bureaucratic capacity as a scarce resource (which is just as scarce a resource for employing Wash. Cons. reforms too), and an acknowledgement that this is not a story of "omniscient planners ..., but of an interactive process of strategic cooperation between the private and public sectors that ... elicits information on business opportunities and constraints and ... generates policy initiatives in response." He puts a large premium on transparent, accountable, participatory governance, another point in his favor. Since he argues throughout that higher-level economic principles do not translate obviously one-to-one into particular institutional frameworks -- multiple institutional arrangements can generate substantively similar results -- he focuses on those higher level principles ... and then oddly enough spends a large chunk of the chapter on cross-country large-n regressions, which are nice and supportive but perilous, particularly when he criticizes similar work by other high-caliber economists (Jeff Sachs and Daron Acemoglu and their co-authors, for instance).

His discussion of globalization largely focuses on preserving policy space for countries that want to use industrial policy or other heterodox methods, and the difficulties (he says impossibilities) of simultaneously preserving national sovereignty, mass politics, and global economic integration. There's a brief plug for expanded migration as part of a multilateral framework.

The globalization section shines in discussing the international governance architecture. 1) Instead of trying to maximize trade, put the emphasis back on maximizing economic growth and poverty reduction; 2) Instead of trying to harmonize (i.e. make uniform) trade, finance, etc. policies, the global institutions should preserve nations' policy space while reducing the transaction costs between them.

Things I thought were missing: aid institutions, more discussion of when Washington Consensus reforms are likely to be the binding constraints, doing more to answer why import substitution industrialization largely failed (he just asserts it worked and is done). He lists 83 episodes of sustained growth spurts, and I would have liked more information about more of them, particularly in Africa.

(This review reprinted from [...])

Brilliant study of the policies needed for economic growth
Dani Rodrik, Professor of International Political Economy at Harvard University, advises developing countries not to rely on financial markets or the international financial institutions. He argues that the principles of property rights, the rule of law, sound money, and honest public finances need to be put into practice, and the conditions for doing so vary from country to country. There is no single, simple recipe for growth.

He proposes six policies to help implement industrial policy: export subsidies, domestic-content requirements, import-export linkages, import quotas, patent and copyright infringements, and directed credit.

He argues against relying on foreign direct investment, writing, "careful studies have found very little systematic evidence of technological and other externalities from foreign direct investment, some even finding negative spillovers. In these circumstances, subsidizing foreign investors is a silly policy, as it transfers income from poor-country taxpayers to the pockets of shareholders in rich countries, with no compensating benefit."

Rodrik says countries cannot have `globalisation', nation-states and democracy all at once, only any two of the three. So if we want a nation-state and democracy, we must limit our participation in the global economy.

If trade liberalisation brought wealth, Haiti would be the richest country in the world. As Rodrik observes, "no country has developed simply by opening itself up to foreign trade and investment." And, "there is no convincing evidence that trade liberalisation is predictably associated with subsequent economic growth. ... integration with the world economy is an outcome, and not a prerequisite, of a successful growth strategy."

All countries have the right to protect their own institutions and development priorities; none has the right to impose its preferences on others. So Rodrik opposes any country's using the World Bank, the IMF and the WTO to enforce its views. He writes, "Trade rules should seek peaceful coexistence among national practices, not harmonisation."

A provocative diagnosis
One Economics, Many Recipes is a collection of nine essays by Dani Rodrik that has something to annoy almost everyone.

The first three essays lay out Rodrik's interpretation of the post-World War 2 growth experience, and the `growth diagnostics' framework that he proposes in response.He argues that development is fundamentally about the introduction of new products and new methods of production. This may fail to happen because the returns to such innovation are too low, or because the cost of finance is too high. Following one path down his decision tree, the returns to innovation may be low because of poor infrastructure, lack of human capital, or unfavourable geography. Or, the returns may be high but not appropriable by the innovator, due to government or market failure. Rodrik argues that each of these potential problems will produce a different set of symptoms if it is really the binding constraint on the economy. A shortage of finance will reveal itself with high interest rates or current account deficits, a shortage of human capital with a high skill premium, and so on.

The rest of the book suggests how reforms might be designed and implemented. Rodrik pays by far the most attention to the `market failure' branch of the tree. His ideal industrial policy is not about `picking winners' or comprehensive planning, but encouraging experiments with new types of economic activity. Many will fail, but even a few successes can amply repay the costs of failure.

This is a self-confessedly modest program. Yet it contradicts everyone currently making a noise on the subject: activists because it does not demonise the IMF, World Bank, and WTO; heterodox economists because it asserts the value of neoclassical theory; neoclassical economists because it advocates industrial policy ; foreign aid advocates because it denies the importance of poverty traps; and pessimists because it offers, if not a one-size-fits-all solution, at least some concrete advice on how to engineer growth.

It is no small achievement to disagree with so many luminaries and still receive back-cover endorsements from three Nobel laureates. He is very convincing arguing against the `laundry lists' of comprehensive reforms that have been advocated by international institutions, whether the first generation of privatisation and liberalisation, or the more ambitious second generation focused on institution building.The case against a generalised poverty trap is equally strong: spurts of growth lasting several years are relatively common, while sustained growth over decades is rare.

This very fact, however, points to a weakness, or gap, in the book. If lighting the fire is relatively easy compared to keeping it going, why spend so much time focusing on ignition techniques? For the long run, Rodrik's only specific advice is to actively diversify the industrial base, and build institutions of conflict management, which he links with democracy. There is a more general recommendation to use the time bought by growth accelerations to gradually implement more ambitious institutional reforms, but this is rather vague. Is this just the standard `laundry list' implemented more slowly? Then what becomes of the `many recipes'? Or is the long run, from a policy point of view, just a series of short runs -- life is one binding constraint after another? In this case, growth diagnostics offers no way to identify and fix constraints before they start to bind, which is what he seems to be recommending. How can you avoid Argentina's long decline, or Japan's stagnation, or the East Asian financial meltdown, except with hindsight?

Short-run success is, of course, not to be disparaged. It would be nice to have a reliable method of making poor countries rich, but failing that (which we have been), significantly raising the number of growth accelerations would be a great start. With this more limited goal in mind, Rodrik's advice seems sensible, although I am sceptical of his emphasis on `cost discovery' as a justification for industry policy. He argues that those entrepreneurs who introduced garment manufacturing to Bangladesh and soccer balls to Pakistan were revealing new information about what was profitable in those countries, which could then be copied by others. This treats manufacturing as some exotic crop that will only grow under particular conditions of soil and climate, as if it was not equally likely that Pakistan would have ended up making shirts and Bangladesh balls. Rodrik's own summary of the evidence concludes that `managerial and labour turnover' is the key mechanism by which innovations spread, which points to a `learning by doing' or `human capital' interpretation. He mentions these only briefly, which is strange, as he has argued elsewhere that the widely accepted economic case for government involvement in education is similar to the case for industry policy. I would go further and say that they are practically identical.

This is, however, splitting hairs. Specifying the exact market failure is far less important than recognising that a particular activity (in this case, innovation) is likely to be undersupplied by profit-seeking enterprise. First-best intervention is usually impractical, if not impossible, so there is no one-to-one mapping from diagnosis to policy. It is a great strength of the book that it does not offer such precise, pre-packaged answers, even in a country-specific form but, rather, hints as to the right questions to ask as part of an open-ended policy-making process.

Original version published in Agenda 15(1), 2008 ... Read more

Product Description
Local or global, economic issues are on the public's mind-but making sense of supply and demand isn't so simple. This book explains in everyday terms how markets work, introducing the key players-consumers, business, and government-and using their behavior to illustrate basic theories and ideas. In addition, it coaches both general readers and students in the key concepts and analytical tools of macroeconomics and microeconomics, and teaches the dynamics of markets, consumer behavior, business investment, budgets and taxation, recession and expansions, unemployment and inflation, and more. ... Read more

Customer Reviews (16)

Well Done
It came in in good time, not like many others who wait till the deadline two weeks later. Condition was good as promised.

Excellent introduction (or review) for a layperson
As a non-economist, I very much enjoyed this author's explanations of fundamental economic concepts.I vaguely remembered a lot of this material from my Econ 101 course in college, but that was several years ago and I wanted to remind myself of some basics.I checked this book out of the library and found myself wanting to highlight so many passages that I decided to buy my own copy.

Gorman covers all the basic economic ideas that you would expect, but I was particularly impressed with his explanation of how money is created (Chapter 15), the effect of unions on the economy (Chapter 9), and key economic indicators and where to find them for myself (Chapter 20).

Something that might be a minor drawback for some people is the fact that this book was first published in 2003, back when Alan Greenspan was still Chairman of the Fed and we were not embroiled in our current economic crisis.Since I was looking for a refresher of basic economics this was not a concern for me, and I heartily recommend this book to others looking for such a refresher or introduction.

Pales compared to its Dummies counterpart
This is a pretty decent introduction to economics but much less effective than Economics for Dummies, by Sean Masaki, or Basic Economics, by Thomas Sowell. Gorman just doesn't write as well, and as clearly, as Masaki and Sowell (who are both exceptional writers). He also seems to assume, unlike Masaki and Sowell, that the reader knows something the reader shouldn't be expected to know. That is, some of his explanations of economic concepts are frustratingly cursory and fail to connect all the dots for readers who are likely to be intimidated by this subject. Conversely, Masaki and Sowell constantly lead their readers, like patient guides who know how to give great directions, through every concept they address. Gorman also fails to give the kinds of real-life examples that really illuminate economic concepts. This book is not a waste of your time, but economically speaking, the cost opportunity of reading it is pretty high (after all, you could be reading Masaki or Sowell, instead).

Good Introduction
I picked up this book in order to better understand this sophisticated science.That it did, and I could honestly feel comfortable discussing some of the more basic concepts.
Although this book does have many strong points, I would recommend reading Jacob De Rooy's Economic Literacy.I prefer the style and humour of the latter which only helped make the read much easier.In conclusion both titles offer good introductions to a very complex study.If you have the time, read both and solidify your fundamentals.Next step school.

An above average treatmentof mainstream and Keynesian economics which does not convey Keynes's views accurately
This is a good summary of both Keynesian economics and conventional economic practice. The Federal Government and the Federal Reserve System are to engage in expansionary-contractionary fiscal and monetary policy so as to manage the economy.This is done by means of incometax cuts to stimulate the economy through short run consumption spending(The reverse does not apply.Raising taxes is out of the question as a tool to fight inflation.)by running budget deficits(this approach is called deficit finance)and lowering/raising the rate of interest to stimulate spending during recessions and reduce spending during periods of inflation.
The author give the impression that this fiscalist approach comes from J M Keynes.It does not.The reader should actually get ahold of the General Theory(1936) and read pp.128-130,especially the footnote on p.128.Keynes favored loan expenditure.The government borrows money at very low rates of interest( large amounts ofinactive bank balances make this possible during a recession-depression ) and spends the money on infrastructure,public goods,and public works,i.e.long run investment projects and not short run consumption.
Keynes's full plan is a return to the ancient wisdom of the Old and New Testament prophets,Jesus Christ,the Medieval Scholastics,Canonists and Thomists as modernized by Adam Smith in the Wealth of Nations.On pp.321-327,338-353,and 374-377of the GT,Keynes provides the following guidelines.First,fix the long run rate of interest permanently a little bit above the market clearing ,equilibrium prime rate of interest given the most creditworthy of customers.Second,cut off all loans to speculators and rentiers(Smith's projectors,prodigals,and imprudent risk takers)and prevent the banks from making such loans.Third,skew credit availability to Smith's " sober' people and not the leveraged buyout specialists working for Drexel Burnham Lambert or the private equity firms.The full statement of Keynes's program includes 5 articles written by Keynes between 1937 and 1939 in the Economic Journal and the Eugenics Review. ... Read more

Product Description
START-UP NATION addresses the trillion dollar question: How is it that Israel-- a country of 7.1 million, only 60 years old, surrounded by enemies, in a constant state of war since its founding, with no natural resources-- produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada and the UK?

With the savvy of foreign policy insiders, Senor and Singer examine the lessons of the country's adversity-driven culture, which flattens hierarchy and elevates informality-- all backed up by government policies focused on innovation.In a world where economies as diverse as Ireland, Singapore and Dubai have tried to re-create the "Israel effect", there are entrepreneurial lessons well worth noting. As America reboots its own economy and can-do spirit, there's never been a better time to look at this remarkable and resilient nation for some impressive, surprising clues. ... Read more

Customer Reviews (94)

Start up Nation
Most informative book detailing why Israel is excelling with so many start up companies, inventions and patents.The people and nation are focused on survival with no natural resources and encircled by people and religions that want to exterminate them.
RKS

Good, not great
It is upsetting when a book comes so close to being great, yet misses because of attempts to please rather than prove.Too many anecdotes, not enough substance, detract from what could have been (should have been) a seminal work on innovation.

Victory: Israel!
This book describes the phenomenon of 21st century Israel: small, diverse, war torn, and surrounded by enemies, Israel produces more startup companies than China, India, the UK, and Japan. And it has more companies on the NASDAQ than all of Europe, Korea, Japan, Singapore, China, and India combined. They remind us that Israel is one of the most heterogeneous countries in the world:7.1 million people, representing over seventy different nationalities.

The authors explore with stories, details and passionate interest how the combination of leadership and timing (Israel was set up as a "Start Up Nation"); Jewish culture, (dissatisfaction may be dangerous for politics but it is good for science) and temperament, (the trait of chutzpa, that celebrates ruthless questioning of every assumption, bold initiative even in the face of apparent failure); the institution of the military (an astonishingly non-hierarchal structureinto which all young adults are conscripted and given experiences of authority, leadership, interdependence, and resources for research and development).

The book is not just for the academic; the narrative is engaging, the stories are funny, the inventiveness of young Israelis is mind blowing. I can't wait to lend this book to any eager mind that I can find.

Reviewed by: Marcia Jo

This issuper book about the ideas and creative backdrop that propells the workings of a startup business.
Startup Nation is the super creative spotlight that shines the light on why such a small isolated nation, filled with handicaps and limited resources, has flourished.

Startup nation examines how and why the creative process is different than almost every other industrialized nation. The startup business process is a fight, a struggle within that produces energy,growth and change.

This should be a must read for anyone interested in the application of the creative process..ie...how to foster creative minds that can adjust and produce results within a group setting.

Korea, both South and North Korea, the Tiger and Mouse of Asia could well follow this example.Few countries around the world implement such a simple concept.War,peace,growth,and sound economic policy can create a strange bedfellow of success.

This book should be a first week read for any business school freshman and a first day read for any student of psychology.

Troytex in TexasSept.18, 2010

Don't miss this one - an eye-opening read
I've already passed my copy on to a few people, and have recommended this book to others. I work in an Israel hi-tech company myself, and just had to laugh when reading the various descriptions about the way things work - they really are accurate! It's a fascinating place and a fascinating industry, and I am proud to be a part of it. It's also very refreshing to read such an upbeat and positive book about Israel, for a change.

I'm sure that many entrepreneurs and managers in general could learn a lot from this book.

Don't miss it! ... Read more

Product Description
John Perkins has seen the signs of today's economic meltdown before. The subprime mortgage fiascos, the banking industry collapse, the rising tide of unemployment, the shuttering of small businesses across the landscape are all too familiar symptoms of a far greater disease. In his former life as an economic hit man, he was on the front lines both as an observer and a perpetrator of events, once confined only to the third world, that have now sent the United States—and in fact the entire planet—spiraling toward disaster.

Here, Perkins pulls back the curtain on the real cause of the current global financial meltdown. He shows how we've been hoodwinked by the CEOs who run the corporatocracy—those few corporations that control the vast amounts of capital, land, and resources around the globe—and the politicians they manipulate. These corporate fat cats, Perkins explains, have sold us all on what he calls predatory capitalism, a misguided form of geopolitics and capitalism that encourages a widespread exploitation of the many to benefit a small number of the already very wealthy. Their arrogance, gluttony, and mismanagement have brought us to this perilous edge. The solution is not a "return to normal."

But there is a way out. As Perkins makes clear, we can create a healthy economy that will encourage businesses to act responsibly, not only in the interests of their shareholders and corporate partners (and the lobbyists they have in their pockets), but in the interests of their employees, their customers, the environment, and society at large.

We can create a society that fosters a just, sustainable, and safe world for us and our children. Each one of us makes these choices every day, in ways that are clearly spelled out in this book.

"We hold the power," he says, "if only we recognize it." Hoodwinked is a powerful polemic that shows not only how we arrived at this precarious point in our history but also what we must do to stop the global tailspin.Amazon.com Review
Robert Baer Reviews Hoodwinked

Robert Baer is the author of two New York Times bestsellers: Sleeping with the Devil, about the Saudi royal family and its relationship with the United States; and See No Evil, which recounts Baer’s years as a top CIA operative. See No Evil was the basis for the acclaimed film Syriana, which earned George Clooney an Oscar for his portrayal of Baer. Baer has contributed to Vanity Fair, the Wall Street Journal, and the Washington Post. He is considered one of the world’s foremost authorities on the Middle East. Read his guest review of Hoodwinked:

I wasn’t twenty pages into Hoodwinked when I realized Perkins nailed it. What got us into the mess we’re in today, the worst recession since the Great Depression, is the same grotesque capitalism cum corruption we shoved down the throat of the Third World since the end of World War II. (Yes, the Third World’s elites were cheerfully corrupted.)

We, and the rest of the West, learned the trick of selling unneeded infrastructure, services, over-sophisticated weapons--stuff that could never benefit anyone other than the people who lined their pockets. And yes, Perkins is right, the international economists and press were handmaidens to the thievery.

It was all fairly routine until 9/11, when the real gorging started. Tell the people their roof is on fire and they’ll give you whatever you ask for. Between 2001 and 2009 the Department of Defense budget increased 74 percent, and that is not to mention the hundreds of billions of dollars in related contracts. Nigeria on the Potomac.

Perkins is quick to state he doesn’t believe in a grand conspiracy theory. Few of the people who call the shots have ever met each other. They don’t have a playbook other than a couple of fraudulent economists like Milton Friedman and the others who worship at the altar of deregulation. No, what they have in common is an obsession with the winner takes all.

Perkins's message isn’t going to be popular. We’re a country invested in a system in which five percent of the world’s population consumes 25 percent of the world’s resources. It's a system we’re trying to sell to the world, only we don’t mention that we’ll need five planets to sustain it.

Perkins isn’t the pessimist I am. He says we can save the world if we green it--and, of course, start telling the truth to each other. Otherwise we end up a banana republic like the ones we know so well how to despoil. --Robert Baer

Customer Reviews (36)

Another load of garbage from John Perkins
Oh, come on, Baer.Lot's of us left the decaying outfit with a feeling of disgust, but for you to lend credence to the fantasies of John Perkins is incredible.Read his first book of tall tales, Economic Hitman.Complete drivel.So, he worked for the NSA?That should have been enough to put Bob Baer on guard.The NSA does not employ kooks like Perkins or, rather, people like the person Perkins claims to be.One for the trash pile.

Everyone should read this.
Very interesting book with lots of information, telling what happened and naming names.Fast read.
I appreciate that he offers solutions.Highly recommend.

We are all the third-worlders now.
Perkins builds off his former tale of economic exploitation of the third world by multinational corporations; global multilateral organizations such as the IMF and World Bank; and, occasionally, the US military, to document how this "race to the bottom" has now spread to vast swathes of the US economy.

This trend - once only seen in the Third World - accelerated in the US once a a philosophy of deregulation and privatization became dominant which dismantled worker/consumer protection and jobs to the benefit of an elite few.He calls this "mutant capitalism" which is the result of unfettered capitalism absent regulatory oversight.

He interweaves numerous personal stories, biographical sketches and tales across the globe with important economic data to tell an engrossing story on the current state of global politics, economy and consciousness. It is one of the few books on political economy which you are reluctant to put down.

While much of the data is depressing, the true purpose of the book is to convey hope and a call to action. Perkins emphasizes the message that it is not democracy that has failed, but that people have failed democracy. Another primary message is how interconnected we are on this planet. He outlines a number of ways in which individuals can promote meaningful change by government and corporations through actions and decisions they make in their lives.

I believe that this book, as well as its predecessor, Confessions of an Economic Hit Man, are an homage to former Panama president, Omar Torrijos, a casualty of opposition to these rapacious policies.The author has done an admirable job on many levels.

Superficial -
Perkins's "Hoodwinked" is predominantly a rehash of his past material. He begins by reminding readers that the most common task of an economic hit man is to identify countries with resources our corporations covet, seduce, bribe, and/or extort their leaders to accept loans (usually World Bank origin, requiring use of U.S. contractors) that cannot be repaid, for the exploitation of privatized national assets that ultimately are taken over in loan default. Perkins contends that this strategy began in the Third World and has now spread to the U.S. and rest of the world. Robert McNamara, George Shultz, Dick Cheney etc. are reputed to have been early leaders in these conspiratorial efforts. Perkins role in this was supposedly facilitated by his employment as head economist at Charles Main, strategic consulting firm that I never heard of - subsequently taken over. His qualifications - graduation from the Boston University School of Management, two years' of Peace Corps experience in Ecuador, approval by the NSA, and hiring by Norwegian attorney Einar Greve. Perkins was then trained/seduced by a beautiful older woman. Seems a bit far-fetched to me.

Perkins then shifts focus to Iceland, booming in 2007 supposedly because of its hydro and geothermal power resources. Alcoa arranged to build 'a water-too-aluminum' facility that included a dam and power-plant generating over 600 MW, compared to the rest of Iceland using 300 MW. This required a large loan, collateralized by the sale of power. Then Iceland's banks, playing amongst the global giants, collapsed in 2008. Perkins alleges that Iceland's utility users lost money every time Alcoa used electricity but offers no explanation or data to support this.

Eventually Perkins moves to 'explaining' the current economic mess - for the 1,000th time. (It was interesting to read, however, that $3.2 billion was spent in the 2007 elections, and lobbyists go through another $2.5 billion/year doing their thing. Also, that the price of corn in Mexico fell 70% from 1994 to 2002, thanks to NAFTA allowing subsidized American farmers to drive native growers out of business.)

Perkins earlier books were much more compelling - I'm now wondering if I should revisit them with a more critical eye.

A Must Read Frightening Book
When Hubby Dub and I are out of the country, we generally listen to the BBC at night as we fall asleep. Stateside, we sometimes tune into those news readers across the pond, but we also like to listen to Coast to Coast AM. You know, that show that talks about aliens, shadow people and various conspiracy theories. But they also talk about the real deal, things you don't find in the newspapers, things like government goings on that they don't want you to know about.

A while back they had John Perkins on and what he had to say was frightening, frightening, because this was one of those times when the conspiracy wasn't a theory. John Perkins kept me awake, kept me glued to the radio. Dub was wide awake as well. To think that there are corporate execs who would deliberately destroy third world countries, run them into bankruptcy, drive their children into starvation, all for a profit.

And now that they've destroyed the third world, they've moved onto the developed one, ruining the economy of Iceland, driving the country to insolvency. And now they have their sights set on us. And we, the taxpayers, bail them out, give them billions, so they can make more billions and keep right on sticking it to us.

I had to get HOODWINKED, had to read it. The introduction will raise the hair on the back of your neck. The first chapter will send chills up your spine. Mr. Perkins writes like a novelist, draws you into his story, his life, with a deft use of words. He has spent time on the wrong side of what is right, he has been one of the bad people, an economic hit man, a destroyer, but now he has turned to the side of the angels, our side. He paints a sad and terrifying picture of corporate greed, lobbyists with more power the anyone can imagine and politicians who can't see past the next election.

Who's looking out for the people, for us, for the starving kids in the third world? We better start doing that, because if we don't our kids will be starving next and then it'll be too late. You can help, we all can. Mr. Perkins' book will help show you how. ... Read more

Product Description

Customer Reviews (46)

The antidote to "Guns, Germs, and Steel".
This book is a goldmine of insightful viewpoints and possible causality connections. I am not saying that the book is the final word on economic history, but the thinking is first rate and the logic Mr. Clark uses to guide us to his conclusions is compleling. If nothing else, the book can open the reader to new ways of viewing history and help weaken the hold of the official mythology that most of us learn in our schooling.

The book has the feel of an exciting exploration and inquiry. The author takes the stance of one who is excitedly sharing the nuggets of wisdom that he has acquired through much hard work. This is in dramatic contrast to "Guns, Germs, and Steel", by Jared Diamond, which reads like a desperate groping for excuses for why the world in not the way Mr. Diamond thinks it should be. (Oh, the unfairness of it all)

Overall an excellent read for anyone interested in understanding humanity and the twists and turns of human history.

Highly recommended.

Are we still talking about Malthus?
The reasons that 3rd world countries are so poor is because of planned-economies and interventionism.There's no other reason.No single group of man was born with an innate ability to participate in the Industrial Revolution!Look at the recent economic development of India and China, they are raising their life expectancy not because they had some societal/psychological shift!They're having it because they freed their markets, which in turn will allow comparative advantage to best use their resources!Also, what Clark seems to ignore is the ability for man to use land to sustain his own life.The reason we have such high rates of poverty is because we have such low rates of land usage.The redistribution of natural resources through taxation would lift the burden of speculation off the back of the working class and allow markets to actually be free.Clark is a moron.He ignores simple economic principles to create an "interesting and politically incorrect read!".Dumb.I'm returning it today.

Great think, long read.
Roughly, the title says it all.

Basic claim:
Contemporary analyses of why growth happens do not explain the Industrial Revolution.Pre-industrial revolution, Malthusian economics held sway.After the industrial revolution, it didn't.What changed, and why England, and not elsewhere?

Candidate answer, with lots of support, but not enough to advocate strongly is that between 1200 and 1800, the poor of England slowly died out, breeding at notably less than replacement.More interestingly, they were replaced, not by the children of the nobility, but by the children of the rich, be they nobles, merchants or otherwise.And whatever combination of traits (willingness to delay gratification, moderately higher intelligence, stronger work-ethic) led to richness in the parents, the children inherited as well.Since this selective population pressure was so much greater in England than anywhere else (nowhere else was it so true that the rich were the ones who bred more), the industrial revolution happened in England.

Great think.Long read.

Explaining poverty and riches
Why is it that some countries today are very rich while others are very poor, whereas in 1800 all countries were comparatively poor? The explanation of what happened, according to Gregory Clark in thsi book, is that the wealthy countries managed to increase productivity per capita through innovations. However, this does not explain why the productivity increases started when they did, or why some countries have benefitted greatly while others have not.

Clark's explanation for why the productivity increases started in England is the seemingly bizarre one that at the applicable time England's upper classes had higher birth rates than the lower classes, and the upper class skills such as literacy and a disciplined approach to work were thereby transmitted down through the society. His explanation for the current divergence between rich and poor countries is that workers in poorer countries are less productive.

The book is essentially a detailed examination of the history of the Industrial Revolution in England, with references to the current great divergence between rich and poor countries little more than an afterthought. The questions posed are very interesting, but I found the answers largely unconvincing. If workers in poor countries are less productive, why do they suddenly become more productive when they migrate to richer countries?

An Excellent Interdisciplinary Study
Hello.
This truly excellent book made an exhaustive study of the trends of different elements in the society of late medieval and rennaissance England to come to the conclusion that the rich by leaving more heirs were imparting their values and qualities to successively lower elements of the social strata.This led to the characteristics and habits, such as diligence, foresight, and inventiveness that led to the industrial revolution in 18th and early 19th century England rather than polotical and other institutional inputs.
Geoff ... Read more

Product Description
The ideal text for undergraduate engineering economy courses--now with new cases.

Since it was first published in 1976, this text has been the market-leading book for the Engineering Economic Analysis course. It has always been characterized by:
A focus on practical applications
* One way to encourage students to read the book, and to remember and apply what they have learned in this course, is to make it interesting. And there is no better way to do that than to infuse the book with real-world examples, problems, and vignettes.
Accessibility
* Most students don't have expertise in accounting or finance. This book takes the time to explain concepts carefully while helping students apply them to engineering situations.
Superior support packages for students and instructors
* To make this course easier to understand, learn, and teach, Oxford University Press offers the best support package available in this market.
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Customer Reviews (10)

Fantastic
Better late than never. I heard of this book late for my exams. Had I gotten it before now I would have written my result even before the exam. The book is fantastic.

Textbook Review
The book is very helpful. The examples are well explaned. I liked the layout of the book.

stats 101
mean median std dev its in there. i don't much care for stats but you can learn how to play cards better :)

great CD!
The CD is great! It is full of songs that are amusing and the lyrics teach me a lot.

Hearsay
I'm taking this class right now.My prof said that this text is even better than the one he (my prof) wrote.He also said there's an interesting backstory to this text: apparently Newnan wrote the book and no one would publish it, so he published it himself.

I'll write my own review at the end of the semester. ... Read more

Product Description
For the 2-semester principles of economics course.Reviewers tell us that Case/Fair is one of the all-time bestselling POE texts because they trust it to be clear, thorough and complete.This well-respected author team is joined for the 9th edition by a new co-author, Sharon Oster.Sharon's research and teaching experience brings new coverage of modern topics and an applied approach to economic theory, as demonstrated in the new Economics in Practice feature. ... Read more

Customer Reviews (9)

My First Econ Book
So admittedly this is the first Econ class I've taken so I can't compare this book to others available on the market. However, I have to say I really like the structure of this book (bold vocab words, divided into manageable sections, and has helpful diagrams). I also liked the writing in this book. Personally I thought it was pretty easy to get through without getting too bored with a kind of dry subject.

TLDR: Recommended!

What i needed
Needed this book for a course i am taking, came in the mail in great condition.

Economic Foundation in Single Book
So far, the text provides a thorough, organized, and simple enough read. Considering I am taking a combined Micro/Macro class this semester, the organization of the book is proving to be a godsend with all the information I am having to digest at a quick pace. The book can be a bit repetative in some of its examples, though, but I guess it's a method to reach anyone in the audience. My only true gripe is that I do not think that it is worth it's $145 price tag, especially since the International version is selling for a third of the price. The information is exactly the same, but the problems and case studies are different. Still, if this book was meant to cover two base classes, I guess the price could be worse. Amazon, of course, was the best (and most reliable) seller of this item. I needed the normal version, and a lot of sellers on eBay were trying to push the International Version as the regular text.

Microeconomic Principle
The textbook is in good shape and has all the right information.Some of the chapters are switched around in this version so make sure and check the chapter titles if the class is using multiple editions.

Great book - even better than the class I needed it for.
Decent book on the principles of economics!Easy reading, good story segments, worthwhile readings. ... Read more

Product Description
One of the world’s leading experts on economic education, William Walstad of the University of Nebraska-Lincoln, has prepared the seventeenth edition of the Study Guide.Many students find the Study Guide indispensable. Each chapter contains an introductory statement, a checklist of behavioral objectives, an outline, a list of important terms, fill-in questions, problems and projects, objective questions, and discussion questions. The answers to Economics’ end-of-chapter Key Questions appear at the end of the Study Guide, along with the text’s glossary.The Guide comprises a superb “portable tutor” for the principles student. Separate Study Guides are available for the macro and micro paperback editions of the text. ... Read more

Customer Reviews (7)

Study Guide/ Economics
This study guide arrived immediately and was much cheaper than purchasing from either a book store or a dot com service that was recommended by the school.

Excellent Purchase
This book is great for anyone taking AP economics. There are a lot of practice questions.

Excellent Study Guide
The publication was in excellent shape and very pertinent to the material I am studying.

Great buy
The book was in great shape and came on time! I am really glad I bought the book from this seller.

Yea! Study Guide!
It was so nice to find this item on Amazon.We were just so thankful we didn't have to purchase at the college bookstore.This item was offered at a great price.We received it quickly and in the condition specified in the ad listed on Amazon.We would definitely consider purchasing from this seller again.Thanks! ... Read more

Product Description
This accessible, engaging text examines the impact of the trends that have shaped Michigan's economy, and offers innovative solutions to the current economic crisis. Charles Ballard's illuminating book explores the structure of Michigan's economy, including its roots in agriculture, the rise and fall of the automotive industry, and the long-term decline of manufacturing. Ballard proposes that investing in education to create a highly skilled workforce can help Michigan's people to compete in the rapidly evolving global economy. Discussing the state's transportation infrastructure, environment, public expenditures, and tax system, Ballard describes how changes in attitudes, policies, and political institutions will help to promote economic recovery and growth.

Illustrated with charts, graphs, and tables.


CONTENTS:
Acknowledgments / ix;
Introduction / xiii;
1. An Overview of the Michigan Economy / 1;
2. Michigan's Human Resources / 43;
3. Michigan's Physical Resources: Transportation, Land, and Environment / 103;
4. Michigan and the World Economy / 123;
5. Other Budget-Related Issues and Policies in Michigan / 145;
6. The Tax System in Michigan / 173;
7. What Will Michigan s Economy Be Like in 2030? / 225;
Index / 253 ... Read more

Product Description
In his stunning memoir, Confessions of an Economic Hit Man, John Perkins detailed his former role as an "economic hit man" in the international corporate skulduggery of a de facto American Empire. Now Perkins zeroes in on hot spots around the world, drawing on interviews to examine the current geopolitical crisis, and providing a compassionate plan to reimagine our world. ... Read more

Customer Reviews (74)

Frightening, but likely very true.
John Perkins describes a dark world where US corporations impose their will on other countries through the bribery, manipulation, and fear. A world too sinister for me to accept at face value. I think the truth lies somewhere between what Perkins' claims and what the rest of society is lead to believe...at least I hope. Though he doesn't make any claims I immediately dismissed as too outlandish. If corporations play as large a role as they do in US politics what's to say that in other countries who are more susceptible, more corrupt, and the stakes are higher, the same thing isn't happening.

All in all this book is a great read that draws you into Perkins' adventures. His stories have incredible detail and only occasionally does he hold back information to protect its source. This book has changed the way I examine world events by examining the motivations behind them. I would recommend this book to anyone, but it's a must read for those who have any interest whatsoever in international politics.

and only a secret to most Americans
I'm adding this to what I have already written below because I'm hoping you are looking for answers. There are plenty explanations of how and why and plenty of other books where you can read about the problems addressed in this book, but if you are hoping for inspiration and a means to act with a confidence that your efforts are worth while, this is it. As I read the final chapter I was more pleased than ever with any other book I have read. I had hoped as another review had indicated that there would be some positive aspect to what seemed so hopeless and unjust for most of the text. There was and it gave me hope, a kind of relief from all the issues that plague our world I have been learning about for the past several years and that have weighed upon me as each piled one on top of the other.

Reading it wasn't hard in that I was already aware of the sad things happening in our world. What is new is the light he sheds on how and why these things are happening and that becomes a validation of his understanding and knowledge of the subject, which also becomes a substantial pretext for that last chapter that sheds even more light on what needs to be done and how we can accomplish it. It is being done this very minute by many who understand because they know the secret, and hopefully by many more as time goes by. It is a great book that clears away the fog of confusion the corporatrocracy has created to keep us all good little sheep.

John Perkins' "The Secret History of the American Empire" is NONFICTION.
He is the author of "Confessions of an Economic Hitman" and he describes himself as a former economic hitman(EHM) who worked for large corporations who exploit third world countries for the profit they can gain by privatizing their resources. Essentially the rape and ravage of people and environments on a scale that only an empire could be capable of.

John as an EHM went to many various third world countries and in a very business like fashion gave leaders an ultimatum, work with us and get rich OR we will send in the jackals. The jackals usually meant coup or assassination, and that is what has happened over and over again, Iran, Iraq, and many nations in South America. This book isn't just about one or two, here or there, it is about a secret systematic attempt to dominate and reap profits at any cost.

The only people in our world who this secret has NOT been revealed to are the American public. Comfort dulls the senses and maybe we are too comfortable with our way of life. But if you have ever wondered why America has so many people of nations around the world that regard us in a negative light when we appear to give so freely in terms of aid or support, then maybe you are one of those who do not know the secret. This book doesn't just provide a piece of a puzzle that fits in a picture that could provide a few answers to why our world never seems to climb out of the heap of turmoil and injustice that plagues it. John Perkins lets you see the picture that the corporatocracy would prefer to remain a puzzle.

There will be no doubt after reading this book that Perkins has put his life on the line to expose an empire of maniacs who exploit nations and the environment, overthrowing or assassinating democratically elected leaders of third world nations who refuse to except the temptations of instant wealth instead of serving their people. It is about wealth and greed, the kind of wealth that is beyond materialism, the kind of wealth that is power, the kind of power that not only an empire is capable of, but the kind of power that can keep the secret from us as their empire dominates our world in a quest for more wealth and power. The kind of greed that is sick, sick enough to allow millions to suffer the deprivation of hunger, loss of life, and loss of the kind of true democracy that our Declaration of Independence represents. See for yourself, the secret is written on these pages for all to see.

Perkins exposes practices that are the equivalent of a psychopath who tempts a child with candy in order to lure the child into his car, except that instead of one child at a time, these psychopaths rape and ravage whole nations of people, millions suffer because of a greedy few. They have almost ruined America's reputation beyond repair, maybe so that no argument or act of good faith can ever redeem us. Although this book sheds light on a number of events, the truth can appear very dark. When whole nations suffer, indigenous people lose their livelihoods or environments that once allowed at least a subsistent existence, the truth is not only very sad, but revolting if the only reason is that it was done solely for the profits of a few self-serving monsters.

Perkins writes in a fashion that is easy to read. He is a very reflective person who let's us in his head and shares himself in a very personal way. The book flows easily, at times in a very suspenseful fashion. This book would be a great addition to any school curriculum, especially in a social studies class where our kids might wonder why our world can't find an equitable peace among nations. But even when the empire's coercive efforts result in war, the wealthy still reap big profits and education of the masses just might hurt the bottom line. Perkins has some good answers to turn this around. Surely his courage alone gives us hope, but the rest is up to us and reading this book and sharing it can go a long way by removing the veil of secrecy so that Americans once again embody the ideals and values other nations strive for.

Impressed with the knowledge and views of the author
Actually, I haven't read the book, just heard an interview with the author.I'm interested in what he has to sayand would love to read it. However, reading is difficult for me.
I hope this book sells enough copies so that it will be recorded.Please read this book so that I can listen to it soon.

Amazing Insight to the World of Politics
This book will really open your eyes as well as be a page turner. Great book love the way it was written. All I can ask for is more stories from more people in similar positions/

What is to be Done?
The great value of this book by John Perkins as well as of his Confessions of an Economic Hit Man, is that, through a series of concrete and dramatic anecdotes, he gives us a feel for how our corporations (quite aptly called the "corporatocracy"), aided by "economic hit men" (IMF, World Bank, etc.),"jackals" (CIA), and the military, work to plunder the third world and working people in the first world to our material, cultural, and moral detriment.

The part of this book I must question is the last section in which Perkins deals with what we can do to make things better.He evidently believes that capitalism is reformable without losing its character as capitalism.It is true that under capitalism some good reforms do take place, perhaps attenuated or watered down over time, and generally restricted in scope, and it is equally true that in spite of the usual insufficiency of many of these reforms, earnest pursuit of reform by our citizens is generally worthwhile, in fact essential if we are not to lapse into an unhappy impoverished brain-dead police state, for in the course of participating in a reform movement we gain much of the experience, knowledge, and skill we need to work collectively for the genuinely radical political, economic, cultural, moral, and spiritual change we must bring about if we are to save ourselves and the planet we live and have our being on..

Many of the reform movements now under way are often subverted or derailed by agents of the corporatocracy in all three branches of our government as well as in our principal media, in our churches and fraternal organizations, and in our educational systems.Agents of the corporatocracy spend many millions in a form of lobbying that amounts to bribing, more millions in propaganda, propaganda usually quite effective, stoking and playing on fear or anger, increasing the ability of the corporatocracy to manipulate public opinion. The corporatocracy and their agents are good at giving the impression of supporting a reform with only some "minor" modifications, going so far at times as to advocate "red herring" reforms to distract us from what is really needed, and to make sure that whatever executive agencies are involved in instituting or managing a good reform shall be understaffed, incompetent, untransparent, and/or underfunded.

While competition among individual capitalists for markets often leads to efficiency and publicly beneficial outcomes, the long-term result of unfettered competition is the formation of monopolies and combinations of monopolies that lead to the ruthless and destructive exploitation of people, resources, and environments.On an international level, acting as more or less national blocs through their governments, these combinations form the economic bases of their respective governments.A ruthless competition among these governments, now imperial powers, develops in competition for markets, for cheap labor, and for cheap raw materials that leads inevitably to fascism and world war, a massive destruction of capital values, and a repeat of the same dreary boom-and-bust cycle-- or, if the masses are properly won over and organized, leads to revolution.Both scenarios are frightful, but one, if acted out in history, promises a better future for humanity and the earth.Still, one may ask:Is there another choice?

The immediate future, if the two scenarios I describe are the only realistic options, is not pretty.One must think through these matters.Perkins' books should definitely be included among your study materials.
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Product Description
". . . competition, we see now, is destructive. It would be better ifeveryone would work together as a system, with the aim for everybody towin. What we need is cooperation and transformation to a new style ofmanagement."

In this book W. Edwards Deming details the system of transformation thatunderlies the 14 Points for Management presented in Out of theCrisis. The system of profound knowledge, as it is called, consistsof four parts: appreciation for a system, knowledge about variation,theory of knowledge, and psychology. Describing prevailing managementstyle as a prison, Deming shows how a style based on cooperation ratherthan competition can help people develop joy in work and learning at thesame time that it brings about long-term success in the market.Indicative of Deming's philosophy is his advice to abolish performancereviews on the job and grades in school.

previously published by MIT-CAES ... Read more

Customer Reviews (31)

Sets the basis for his Profound Knowledge
Before he passed on in 1993, he was apparently in the final stages of developing his philosophy of Profound Knowledge. This was a synthesis of many ideas he adopted during his quality lectures. There are four parts to it. The first was Systems Thinking - atopic which has taken on a path that Deming could not have foreseen. The second was Understanding Variation. The third was about a theory of knowledge. The fourth was knowledge of psychology.
The last came about because of the seeming illogical rejection or refusal to adopt the use of statistics to implement quality systems correctly. The many who were tried, failed. Knowledge of human psychology is necessary to understand this and to create a theory of change.
The Second, about variation, is basic to most areas of business and science. Fundamental to this is the idea of Process. If processes that make a product are not "in control" then the result will be unwanted variation in product output and costly mistakes and rework. Business' are still not getting that point. Indeed, at one manufacturing company that I worked for I heard mid-level managers complain about being "Processed to death."
The first topic about systems is fundamental in that systems are usually mis-defined. Those that are defined correctly are mis-understood. This book helps to overcome that lack of understanding.
This book is for more than quality or six-sigma practitioners. This book is for anybody who wants to understand the forces at work in our society and to be able to improve their work and their products.

Must read for any manager!
Deming's "The New Economics" is a great basis for any person looking to be not just a good manager, but a great one. His book discusses the problems of current management and how to solve these issues. Deming clearly illustrates his concept of common cause variation and also how management by results is ineffective. Overall, this book is a very easy read and extremely straight forward.

The New Economics: For Industry, Government, Education (Paperback)
I want to encourage people who work in management department or any department that link with management to read this book. Dr Deming gave us good explanation of why hard work and old management system will not survive in this new era. His believed in equality or socialism is the best way to excel while merit system and competition will destroy a company might surprise you, but his explanation and example will make you think twice.His book will also give you a picture about system in organization and how management should make transformation to understand and improve the system.
In the second half of the chapter he will give more explanation about leadership, management and understanding about variation so that management can lead the team to success by making decision from the variation in the process. His example like "The Read Beads" and "The Funnel" will teach you about what needs to be done when there are common cause and assignable cause which create variation inside the data.
In conclusion, this book will give you more knowledge with easy wording to understand. He also put less statistical calculation and focuses more on explaining how to manage organization.
PS: If you believe in capitalism, you will have a hard time reading it, but overall his idea is great.

Edwards Deming,
Great ideas represented in this book, but lots of repeating of the same. I find this with most American authors. They write good books, easily digestible, but then run in circles, talking about the same stuff on hundreds of pages. Why not write an essay on 20-30 pages. I am willing to pay the same price.
Nevertheless, this book is worth reading.

A must have solid 5 star system
This is a pleasant read and much more fun than you
might think - Don't let the name of this book fool you...

This book is actually a fun read - at least I found
it to be so just because of the fascination of valuable
information ... "page after page after page!"

I first heard of Deming from the studies of Jay Abraham
and now after reading the work of Deming I can see why Jay
took his principles so seriously.

This book is a must have and I give it my highest
recommendations - if you're in business - or if you a manager
within any industry - buy this book with great confidence you
are making an investment in you ... and to the people who
surround you!

Nick Teetzel ... Read more

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