The Economics of Macro Issues

by Miller, Roger LeRoy; Benjamin, Daniel K.

• ISBN13: 9780321594549
• ISBN10: 0321594541
• Edition: 4th
• Format: Paperback
• Copyright: 2010-01-01
• Publisher: Prentice Hall

Summary

The Economics of Macro Issuesis a collection of brief, relevant readings that spark independent thinking The Miracle of Economic Growth; The Business Cycle, Unemployment, and Inflation; Fiscal Policy; Monetary Policy and Financial Institutions; Globalization and International Finance MARKET:For all readers interested in macroeconomic issues.

Table of Contents

Preface	p. xi
The Miracle of Economic Growth
Rich Nation, Poor Nation (importance of institutions in promoting economic growth)	p. 3
Return of the Luddites: Technophobia and Economic Growth (negative impact of fear of technology on economic growth)	p. 8
The Lion, The Dragon, and The Tigers: Economic Growth in Asia (causes and consequences of rapid growth in China)	p. 14
Outsourcing and Economic Growth (impact on wealth of competition and voluntary exchange)	p. 19
Poverty, Capitalism, and Growth (does a rising tide lift all boats?)	p. 25
The Business Cycle, Unemployment, and Inflation
Measuring GDP (what GDP does and doesn't tell us about the world)	p. 33
What's In a Word? Plenty, When It's The "R" Word (how a recession is defined and why we care)	p. 39
The Panic of '08 (why financial markets melted down)	p. 44
The Case of The Disappearing Workers (misleading measures of unemployment)	p. 51
Poverty, Wealth, and Equality (are the rich becoming richer and the poor becoming poorer?)	p. 56
Will It Be Inflation or Deflation? (why rising prices are more likely than falling prices)	p. 62
Is It Real, Or Is It Nominal? (why record-high prices aren't always what they seem)	p. 67
Fiscal Policy
The Growth of Big Government (why government spending is growing so fast)	p. 75
Debts And Deficits: What's A Trillion More Or Less? (why there is more than meets the eye when it comes to the public debt)	p. 80
Higher Taxes Are in Your Future (why you can expect to pay higher and higher taxes in the future)	p. 85
Soak the Rich (what happens when a minority foots the bill for the majority)	p. 90
The Myths of Social Security (it's not what government says it is, not will it ever be)	p. 96
The Hazards of High Taxes (why higher taxes can mean lower wealth)	p. 102
Monetary Policy and Financial Institutions
The Fed and Financial Panics (why the Fed was founded, and what it learned from its failures)	p. 111
Monetary Policy and Interest Rates (long-and short-term effects of monetary policy on interest rates)	p. 116
Credit Chaos (how Congress got us into the mortgage market mess)	p. 121
Deposit Insurance and Financial Markets (economic implications of subsidized deposit insurance)	p. 127
How (Not) to Beat the Market (why you can't beat the stock market, no matter how hard you try)	p. 133
Credit-Card Crunch (how new Fed rules on credit cards may keep you from getting one)	p. 138
Globalization and International Finance
The Opposition to Globalization (why people object to globalization)	p. 147
The $750,000 Job (economic consequences of attempts to restrict free trade)	p. 153
The Trade Deficit (it sounds bad and it looks ugly, but it's not necessarily either)	p. 158
The Value of the Dollar (why exchange rates move and the consequences for America)	p. 165
Glossary	p. 171
Selected References and Web Links	p. 181
Index	p. 189
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