Economics: An Introduction to Traditional and Progressive Views: An Introduction to Traditional and Progressive Views

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  • Edition: 7th
  • Format: Nonspecific Binding
  • Copyright: 4/15/2008
  • Publisher: Routledge

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Thoroughly revised, expanded, and updated, this classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. The text puts the study of microeconomics, macroeconomics, and globalization into historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This enables students to see economics as a way of understanding the world--a lens for social analysis--rather than as immutable truth or ideal to which the world should be molded. This edition incorporates new chapters on microeconomics and macroeconomics, as well as more graphs to enhance the theoretical presentations. Unlike the previous editions, it includes many pedagogical tools to encourage student participation and learning. Each of the 56 chapters opens with Learning Objectives, and key terms appear in boldface within the text and are listed at the end of each chapter. Other end-of-chapter material includes Summary of Major Points, Analytical Questions, and References. Online Instructor's Materials are available to professors who adopt the text.

Author Biography

Barbara Wiens-Tuers is Associate Professor of Economics, Pennsylvania State University, Altoona.

Table of Contents

Economics of History and History of Economics
The Long Road to Capitalism
Prehistoric Communal Institutions in the Middle East
Communal Equality to Slavery in the Middle East
Slavery to Feudalism in Europe
Feudalism and Paternalism in England
Feudalism to Capitalism in England
Mercantilism in England
Pre-Capitalism to Industrial Capitalism in the United States, 1776-1865
Slavery in the United States
Capitalism, Its Defenders, and Its Critics
Classical Liberalism: Defense of Industrial Capitalism
Socialist Protest Against Industrial Capitalism
Marx: Critique and Alternative to Capitalism
Rise of Corporate Capitalism in the United States, 1865-1900
Socialist Critique of Corporate Capitalism, 1865-1900
Neoclassical Economics: Defense of Corporate Capitalism
The New Paternalism and the New Deal
Veblen: Critique of Corporate Capitalism
War and the Great Depression in the United States, 1900-1940
Growth of Socialism, 1900-1940
Keynes and the Great Depression
The United States and Global Capitalism, 1940-2006
How War Has Changed
Socialist Critique of Global Capitalism
Microeconomics: Prices, Profits, and Poverty
Robinson Crusoe: Two Perspectives on Microeconomics
Elements of Progressive Microeconomics
The Two Americas: Inequality, Class, and Conflict
Inequality, Exploitation, and Economic Institutions
Prices, Profits, and Exploitation
Rejection of Labor Theory and Consideration of Alternative Theories
Market Power and Global Corporations
Applications of Progressive Microeconomics
Economics of Racial and Gender Discrimination
Environmental Devastation
Government and Inequality
Appendix: A Case Study
Economic Democracy
Elements of Neoclassical Economics
Scarcity and Choice: Neoclassical View
More on the Production Possibility Curve
Simple Analytics of Supply and Demand
Consumption Theory: Demand
Utility Maximization Demand Curve
Production Theory: Supply
The Relationship between Total, Average, and Marginal Product
Costs of Production
Cost Diagrams
Work and Wages: Neoclassical View of Income Distribution
Profit Maximization and the Input Decision
The Markets for Capital and Land
Neoclassical Approach to Market Structure and Market Failure
Prices and Profits in Pure Competition
Clarifying the Meaning of Costs
Monopoly Power, Prices, and Profits
Modification of Monopoly Analysis
Monopolistic Competition and Oligopoly
Price Determination in an Oligopoly
Market Failures: Public Goods, Market Power, and Externalities
Further Aspects of Neoclassical Theories of Market Failure
Macroeconomics: Growth and Instability
Aggregate Supply and Demand
History of Business Cycles and Human Misery
National Income Accounting: How to Map the Circulation of Money and Goods
Detailed, Systematic Institutional Income Accounts
Net Economic Welfare
Money and Profit: Say's Law and Institutionalist Criticism
Neoclassical View of Aggregate Supply and Demand
Blaming the Victim
Keynesian View of Aggregate Supply and Demand
Understanding Instability
How to Measure Instability
Consumer Spending and Labor Income
Investment Spending and Profit
The Stock Market and Investment
The Multiplier
Calculations and Limits of the Accelerator
Business Cycles and Unemployment
Under-Consumptionism: A Demand-Side View
Supply-Side Problems: High Wages, Interest, and Raw Material
Population and Growth
Government Fiscal Policy
Fiscal Policy
Fiscal Policies of Presidents Clinton and Bush
Fiscal Policy in Wars
Government Spending and Taxes
Money and Monetary Policy
Money, Banking, and Credit
How Banks Multiply Money
Market Power and Administered Prices
Wage and Price Controls
Monetary Policy
Furious Debates on Montary Policy
International and Global Policy
Exports and Imports
International Trade, Investment, and Finance: How Instability Spreads Around the World
Debate on Globalization
Debate on Free Trade
Conservative Defense of Comparative Advantage
Criticisms of Comparative Advantage
Effects of Militarism on U.S. Development
Table of Contents provided by Ingram. All Rights Reserved.

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