The Economics of Public Issues

by Miller, Roger LeRoy; Benjamin, Daniel K.; North, Douglass C.

• ISBN13: 9780321303493
• ISBN10: 0321303490
• Edition: 15th
• Format: Paperback
• Copyright: 2008-01-01
• Publisher: Addison Wesley

Summary

For thirteen editions, The Economics of Public Issues has sparked debate and discussion in economics classrooms, vividly illustrating for generations of students the power of economics as a tool for analyzing issues with which they are already familiar. This Fourteenth Edition offers provocative new topics to illustrate economic principles through a contemporary lens. The authors' clear presentation and straightforward applications make the study of economics entertaining and informative. The Economics of Public Issues is an essential source of engaging, relevant readings for a principles of economics course, and an excellent way to spark independent thinking and classroom discussions in political economy, public policy, and social issues courses.

Table of Contents

Preface	ix
Part One The Foundations of Economic Analysis	1	(28)
1 Killer Airbags	4	(6)
(how a government-mandated "safety device" has killed hundreds of children)
2 Terrible Trade-off	10	(7)
(when bureaucratic choices mean life for some people-and death for others)
3 Flying the Friendly Skies?	17	(6)
(how safe is commercial air travel? How safe should it be?)
4 The Mystery of Wealth	23	(6)
(why some nations are rich and others are poor)
Part Two Supply and Demand	29	(42)
5 Sex, Booze, and Drugs	32	(8)
(the unintended-and often harmful-consequences of prohibiting voluntary exchange)
6 Expanding Waistlines	40	(6)
(why Americans are getting heavier)
7 Is Water Different?	46	(7)
(are "necessities" like water really like other goods?)
8 Slave Redemption in Sudan	53	(5)
(how well-intentioned efforts to promote freedom can backfire)
9 Choice and Life	58	(8)
(the economics behind the abortion debate)
10 Smoking and Smuggling	66	(5)
(why taxes fuel interstate and international trade in bootleg cigarettes)
Part Three Alternative Rationing Systems	71	(28)
11 Bankrupt Landlords, from Sea to Shining Sea	74	(7)
(when governments lower rents, tenants can suffer)
12 Rationing Health Care	81	(7)
(the unpleasant consequences of trying to ignore scarcity)
13 The Effects of the Minimum Wage	88	(4)
(how a "living wage" can ruin the lives of minority youngsters)
14 Heavenly Highway	92	(7)
(how a simple market mechanism can eliminate traffic jams)
Part Four Market Structures	99	(34)
15 Give Me MP3 or Give Me Death	103	(7)
(the real costs of 'free" music downloads)
16 Contracts, Combinations, and Conspiracies	110	(6)
(why the NCAA and OPEC have more in common than four-letter names)
17 Coffee, Tea, or Tuition-Free?	116	(6)
(who wins and who loses from price discrimination)
18 Keeping the Competition Out	122	(6)
(when the government steps in, the competition steps out)
19 The Perils of Product Differentiation	128	(5)
(it looks easy, but it's not)
Part Five Political Economy	133	(28)
20 Raising Less Corn and More Hell	136	(8)
(how your tax dollars end up in farmers' pockets)
21 Killer Cars and the Rise of the SUV	144	(5)
(why fuel economy kills)
22 Crime and Punishment	149	(5)
(incentives matter-especially to criminals)
23 The Graying of America	154	(7)
(America is getting older, and you will foot the bill)
Part Six Property Rights and the Environment	161	(38)
24 Frankenfoods	165	(6)
(the perils and promises of genetically modified crops)
25 The Trashman Cometh	171	(8)
(the costs and benefits of recycling)
26 Bye, Bye, Bison	179	(8)
(why some species are endangered and others aren't)
27 Smog Merchants	187	(6)
(how markets can reduce pollution)
28 Greenhouse Economics	193	(6)
(the economics of global climate change)
Part Seven International Trade and Economic Prosperity	199	(28)
29 Free Trade, Less Trade, or No Trade?	202	(6)
(if free trade is beneficial, why do people complain about it?)
30 The $750,000 Steelworker	208	(6)
(the economic consequences of restricting international trade)
31 A Farewell to Jobs	214	(6)
(why efforts to "save jobs" make us all poorer)
32 The Rise of the Dragon	220	(7)
(does the rise of China spell the demise of America?)
Glossary	227	(6)
Selected References	233	(10)
Index	243