Specialization and trade a reintroduction to economics : an introduction

Format:

Book

Author/Creator:

Kling, Arnold S., Author.

Language:

English

Subjects (All):

Economics.

Economic specialization.

International trade.

Physical Description:

1 online resource

Place of Publication:

2016.

Washington D C Cato Institute 2016

Language Note:

English

Summary:

Since the end of the second World War, economics professors and classroom textbooks have been telling us that the economy is one big machine that can be effectively regulated by economic experts and tuned by government agencies like the Federal Reserve Board. It turns out they were wrong. Their equations do not hold up. Their policies have not produced the promised results. Their interpretations of economic events -- as reported by the media -- are often of-the-mark, and unconvincing. A key alternative to the one big machine mindset is to recognize how the economy is instead an evolutionary system, with constantly-changing patterns of specialization and trade. This book introduces you to this powerful approach for understanding economic performance. By putting specialization at the center of economic analysis, Arnold Kling provides you with new ways to think about issues like sustainability, financial instability, job creation, and inflation. In short, he removes stiff, narrow perspectives and instead provides a full, multi-dimensional perspective on a continually evolving system.

Contents:

Filling in frameworks

Machine as metaphor

Instructions and incentives

Choices and commands

Specialization and sustainability

Trade and trust

Finance and fluctuations

Policy in practice

Macroeconomics and misgivings

Concluding contemplation.

Notes:

Bibliographic Level Mode of Issuance: Monograph

ISBN:

9781944424169

1944424164