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Roger LeRoy Miller received his PhD from the University of Chicago. Dr. Miller is a legal specialist and author of numerous books on law and the legal environment, including criminal procedure. In addition, Dr. Miller has authored books on the war on drugs, the economics of crime and criminal behavior, and on related topics.
Daniel K. Benjamin is an Alumni Distinguished Professor in the John E. Walker Department of Economics, Clemson University.
Table of Contents
Part One: The Miracle of Economic Growth
1. Rich Nation, Poor Nation (importance of institutions in promoting economic growth)
2. Going Underground (how the underground economy sustains prosperity)
3. Outsourcing and Economic Growth (impact of competition and voluntary exchange on wealth)
4. Poverty, Capitalism, and Growth (does a rising tide lift all boats?)
5. The Threat to Growth (why higher taxes can mean less prosperity)
Part Two: The Business Cycle, Unemployment, and Inflation
6. Is GDP What We Want? (is there a better measure than GDP?)
7. What’s in a Word? Plenty, If It’s the ‘R’ Word (how is a recession defined and why we care)
8. The Great Recession (why it happened and why it was a big deal)
9. The Case of the Disappearing Workers (misleading measures of unemployment)
10. Poverty, Wealth, and Equality (are the rich getting richer and the poor getting poorer?)
11. Will It Be Inflation or Deflation? (why rising prices are more likely than falling prices, and why you should care)
12. Is it Real, or is it Nominal? (why record-high prices aren’t always what they seem)
Part Three: Fiscal Policy
13. Are You Stimulated Yet? (why stimulus packages do—or don’t—work)
14. Health Care Reform (why spending more will get you less)
15. The Fannie Mae, Freddie Mac Flimflam (your money at waste)
16. Big Bucks for Bailouts (if it’s “too big to fail,” it’s too big to save)
17. The Pension Crisis (the future is coming and it’s going to crush us)
18. Higher Taxes Are in Your Future (why you can expect to pay higher and higher taxes in the future)
19. The Myths of Social Security (it’s not what government says it is, nor will it ever be)
Part Four: Monetary Policy and Financial Institutions
20. The Fed and Financial Panics (why the Fed was founded, and what it learned from its failures)
21. The Fed Feeding Frenzy (why monetary policy no longer looks like it used to)
22. Deposit Insurance and Financial Markets (economic implications of subsidized deposit insurance)
23. Credit Card Crunch (how Fed rules on credit cards may keep you from getting one)
Part Five: Globalization and International Finance
24. The Opposition to Globalization (why people object to globalization)
25. The $750,000 Job (economic consequences of attempts to restrict free trade)
26. The Trade Deficit (it sounds bad and it looks ugly, but it’s not necessarily either)
27. The Value of the Dollar (why exchange rates move and what it means for America)