Economics: An Introduction to Traditional and Progressive Views / Edition 7

Economics: An Introduction to Traditional and Progressive Views / Edition 7

by Howard J Sherman
     
 

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ISBN-10: 0765616688

ISBN-13: 2900765616684

Pub. Date: 04/15/2008

Publisher: Taylor & Francis

This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. Revised, expanded, and updated for this new edition, the text puts the study of microeconomics, macroeconomics, and globalization in their historical context. While covering the same

Overview

This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. Revised, expanded, and updated for this new edition, the text puts the study of microeconomics, macroeconomics, and globalization in their 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 allows 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 completely revised 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. An online Instructor's Manual is available to professors who adopt the text.

Product Details

ISBN-13:
2900765616684
Publisher:
Taylor & Francis
Publication date:
04/15/2008
Edition description:
REV
Pages:
760

Table of Contents

Foreword by Robert Pollin
Acknowledgments
Preface

Part I. Economics of History and History of Economics

Section 1. The Long Road to Capitalism
Chapter 1 Prehistoric Communal Institutions in the Middle East
Chapter 2 Communal Equality to Slavery in the Middle East
Chapter 3 Slavery to Feudalism in Europe
Chapter 4 Feudalism and Paternalism in England
Chapter 5 Feudalism to Capitalism in England
Chapter 6 Mercantilism in England
Chapter 7 Pre-Capitalism to Industrial Capitalism in the United States, 1776-1865
Appendix 7.1 Slavery in the United States

Section 2. Capitalism, Its Defenders, and Its Critics

Chapter 8 Classical Liberalism: Defense of Industrial Capitalism
Chapter 9 Socialist Protest Against Industrial Capitalism
Chapter 10 Marx: Critique and Alternative to Capitalism
Chapter 11 Rise of Corporate Capitalism in the United States, 1865-1900
Appendix 11.1
Socialist Critique of Corporate Capitalism, 1865-1900
Chapter 12 Neoclassical Economics: Defense of Corporate Capitalism
Appendix 12.1
The New Paternalism and the New Deal
Chapter 13 Veblen: Critique of Corporate Capitalism
Chapter 14 War and the Great Depression in the United States, 1900-1940
Appendix 14.1
Growth of Socialism, 1900- 1940
Chapter 15 Keynes and the Great Depression
Chapter 16 The United States and Global Capitalism, 1940-2006
Appendix 16.1
How War Has Changed
Appendix 16.2
Socialist Critique of Global Capitalism

Part II. Microeconomics: Prices, Profits, and Poverty

Section 1. Introduction
Chapter 17 Robinson Crusoe: Two Perspectives on Microeconomics
Section 2. Elements ofProgressive Microeconomics
Chapter 18 The Two Americas: Inequality, Class, and Conflict
Chapter 19 Inequality, Exploitation, and Economic Institutions
Chapter 20 Prices, Profits, and Exploitation
Appendix 20.1
Rejection of Labor Theory and Consideration of Alternative Theories
Chapter 21 Market Power and Global Corporations
Section 3. Applications of Progressive Microeconomics
Chapter 22 Economics of Racial and Gender Discrimination
Chapter 23 Environmental Devastation
Chapter 24 Government and Inequality
Chapter 25 Economic Democracy
Section 4. Elements of Neoclassical Economics
Chapter 26 Scarcity and Choice: Neoclassical View
Appendix 26.1
More on the Production Possibility Curve
Chapter 27 Simple Analytics of Supply and Demand
Appendix 27.1
Equilibrium
Appendix 27.2
Elasticity and Its Weaknesses
Chapter 28 Consumption Theory: Demand
Appendix 28.1
Utility Maximization
Appendix 28.2
Indifference Curves and Budget Constraints
Chapter 29 Production Theory: Supply
Appendix 29.1
The Relationship between Total, Average, and Marginal Product
Chapter 30 Costs of Production
Appendix 30.1
Cost Diagrams
Chapter 31 Work and Wages: Neoclassical View of Income Distribution
Appendix 31.1
Profit Maximization and the Input Decision
Appendix 31.2
The Markets for Capital and Land
Section 5. Neoclassical Approach to Market Structure and Market Failure
Chapter 32 Prices and Profits in Pure Competition
Appendix 32.1
Clarifying the Meaning of Costs
Chapter 33 Monopoly Power, Prices, and Profits
Appendix 33.1
Modification of Monopoly Analysis
Chapter 34 Monopolistic Competition and Oligopoly
Appendix 34.1
Price Determination in an Oligopoly
Chapter 35 Market Failures: Public Goods, Market Power, and Externalities
Appendix 35.1
Further Aspects of Neoclassical Theories of Market Failure

Part III. Macroeconomics: Growth and Instability

Section 1. Aggregate Supply and Demand
Chapter 36 History of Business Cycles and Human Misery
Chapter 37 National Income Accounting: How to Map the Circulation of Money and Goods
Appendix 37.1
Detailed, Systematic Institutional Income Accounts
Appendix 37.2
Gross National Product
Appendix 37.3
Net Economic Welfare
Chapter 38 Money and Profit: Say's Law and Institutionalist Criticism
Chapter 39 Neoclassical View of Aggregate Supply and Demand
Appendix 39.1
Blaming the Victim
Chapter 40 Keynesian View of Aggregate Supply and Demand
Section 2. Understanding Instability
Chapter 41 How to Measure Instability
Appendix 41.1
Application of Measurement Method: Unemployment and Productive Capacity
Appendix 41.2
Business Cycle Stages Shown by Number of Quarters
Chapter 42 Consumer Spending and Labor Income
Chapter 43 Investment Spending and Profit
Appendix 43.3
The Stock Market and Investment
Chapter 44 The Multiplier
Appendix 44.1
Calculations and Limits of the Accelerator
Chapter 45 Business Cycles and Unemployment
Appendix 45.1
Under-Consumptionism: A Demand-Side View
Appendix 45.2
Supply-Side Problems: High Wages, Interest, and Raw Material
Chapter 46 Growth
Appendix 46.1
Population and Growth
Appendix 46.2
How Growth is Reduced by Waste
Section 3. Government Fiscal Policy
Chapter 47 Fiscal Policy
Chapter 48 Government Spending and Taxes
Section 4. Money and Monetary Policy
Chapter 49 Money, Banking, and Credit
Appendix 49.1
How Banks Multiply Money
Chapter 50 Inflation
Appendix 50.1
Market Power and Administered Prices
Appendix 50.2
Income Distribution in an Inflationary Era
Appendix 50.3
Wage-Price Controls
Chapter 51 Monetary Policy

Part IV. International and Global Policy

Chapter 52 Exports and Imports
Chapter 53 International Trade, Investment, and Finance: How Instability Spreads Around the World
Appendix 53.1
Behavior of Investment and Trade in the Great Depression
Appendix 53.2
Spread of Business Cycles
Chapter 54 Debate on Globalization
Appendix 54.1
Tables of Data on Globalization
Chapter 55 Debate on Free Trade
Appendix 55.1
Comparative Advantage: Pro and Con
Chapter 56 Development
Appendix 56.1
Development Data in Three Tables

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