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Table of Contents
|AE: Economics, 35e|
|Introduction Unit Overview|
|How Much for a Life? Try $3 Million to $5 Million,Peter Passell,The New York Times,January 29, 1995 Much economic reasoning is based on theopportunity costprinciple, the idea that any decision involving scarce resources must involve costs in terms offoregone alternativeselsewhere. Peter Passell applies this principle to an age-old question: What is the value of a human life?|
|More, Bigger, Faster,Amar Bhideacute;,Across the Board,September/October 2004 Economist Joseph Schumpeter once insisted that the process ofcreative destruction-through which old industries are continuously being replaced by new ones-was an essential fact about capitalism. In this article Amar Bhideacute; demonstrates how capitalism will thrive as long as we cancreate new wantsandnew productsto meet them.|
|Counter-Terrorism: The Private Cost of More Security,Peter Navarro,The Los Angeles Times,September 8, 2002 Peter Navarro argues that the greater danger thatterrorismposes to America may be purely economic. The danger lies in a severeproductivity shockthat could lead to a gross domestic product that will be trillions of dollars below what it otherwise would be.|
|Microeconomics Unit Overview|
|Gas Costs Squeeze Daily Life: Survey Reveals How High Prices Have Pushed Us into New Routines,Judy Keen and Paul Overberg,USA Today Newspaper,May 9, 2008 One of the more useful concepts in microeconomics isdemand elasticity,which measures the responsiveness of consumer demand to change in prices. The authors show how record-high gas prices are prompting Americans to drive less for the first time in nearly three decades.|
|The Real Price of Gas,International Center for Technology Assessment,November 1998 The retail price Americans pay for gasoline has risen steadily in recent years. Adding in the manyexternal coststhat consumers pay indirectly by way of increased taxes, insurance costs, and retail prices in other sectors, this study estimates thereal per gallon price to be more than $15.|
|Antitrust Inquiry Launched into Intel: FTC to Review Firm''s Practices,Peter Whoriskey,The Washington Post,June 7, 2008 TheFederal Trade Commissionhas opened a formal probe into whether Intel, the world''s largest chipmaker, has used its dominance to illegally stifle its few competitors, and therefore violatedantitrust law.|
|Modernizing U.S. Antitrust Law: The Role of Technology and Innovation,Thomas A. Hemphill,Business Economics,April 2005 Maintaining and promoting a competitive economic environment and protecting consumer welfare are the central objectives ofantitrust policy.Thomas A. Hemphill examines ways in whichtechnology and market innovationcontribute to antitrust goals.|
|Climate Change and the Economy,Natalia Tamirisa,Finance & Development,March 2008 To shed light on the economic effects of policies aimed at reducing global warming, the International Monetary Fund recently undertook a study. They found that, if policies are well designed, their economic costs should be manageable.|
|The Eco-Economic Revolution: Getting the Market in Sync with Nature,Lester R. Brown,The Futurist,March/April 2002 Because the economy is largely dependent on the consumption of fossil fuels that result in carbon emission byproducts, concerns exist about the economy''s ability to reduce these emissions without sacrificing output and employment. Lester Brown shows how responsible policies might benefit both the environment and the economy.|
|Congested Parks-A Pricing Dilemma,Dan M. Bechter,Monthly Review,June 1971 Overcrowding at public parks creates aclassic microeconomic dilemma:people face insufficient parking space, which must be dealt through adjusting park fees.|
|The Economics of Work and Income Unit Overview|
|Building a More-Humane Economy,Robert D. Atkinson,The Futurist,May/June 2006 According to Robert D. Atkinson,achieving a more-humane economyrequires neither an anti-corporate crusade nor a simple-living, back-to-nature movement. Rather, it entails promotingmore-humane high-performance work organizationsand robust and sustainedproductivity growththat will enable people to work less without earning less.|
|Outsized Offshore Outsourcing,John Miller,Dollars and Sense,September/October 2007 "Offshore outsourcing"(the shipping of jobs overseas to take advantage of low wages) has led some economists and businessmen to question the value of"free trade."John Miller maintains that there is no guarantee that unfettered international trade will leave participants better off in the long run.|
|The New Suburban Poverty,Eyal Press,The Nation,April 23, 2007 A study by the Brookings Institution shows that from Las Vegas to Boise to Houston,suburban povertyhas been growing in recent years. For the first time ever, more poor Americans live in the suburbs than in all U.S. cities combined.|
|The Gender Gyp,Thomas N. Bethell,AARP Bulletin,Julyndash;August 2005 Because they tend to have greater longevity than men, women are more likely to need income for decades after their earning years draw to a close. Thomas N. Bethell shows whySocial Security is all the more important for women.While for men it is primarily a worker retirement program, for women it becomes a family insurance plan.|
|New Floor Set for Wages: $6.55 an Hour,Michael E. Kanell,The Atlanta Journal-Constitution,July 24, 2008 Thefederal minimum wagewas recently increased for the first time in more than a decade, with many business representatives decrying the change while low-age workers and advocates say `it''s about time''.|
|Outsourcing Jobs: The Myths and Realities,Martin N. Baily and Diana Farrell,Milken Institute Review, 2004 The authors maintain that the debate over outsourcing is misplaced because the issue is not globalization, but instead the way nations allocate the benefits of economic integration. They suggest various ways in which public policy can help disadvantaged workers.|
|Macroeconomics Unit Overview|
|Countdown to a Meltdown,James Fallows,The Atlantic,July/August 2005 James Fallowsimagines what the U.S. economy might look like in 2016.He creates a scenario to pinpoint the challenges the country must deal with now to meet the future.|
|How Obama W|
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