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About the Author
Baumol is the author of more than 35 books, and hundreds of journal and newspaper articles. His writings have been translated into more than a dozen languages.
Alan S. Blinder was born in New York City and attended Princeton University, where one of histeachers was William J. Baumol. After earning a master's degree at the London School of Economics and a Ph. D. at MIT, Blinder returned to Princeton, where he has taught since 1971. He is currently the Gordon S. Rentschler Memorial Professor of Economics and co-director of Princeton's Center for Economic Policy Studies, which he founded.
In January 1993, Blinder went to Washington as part of President Clinton's first Council of Economic Advisers. Then, from June 1994 through January 1996, he served as vice chairman of the Federal Reserve Board. He thus played a role in formulating both the fiscal and monetary policies of the 1990s, topics discussed extensively in this book.
For more than 10 years, Blinder wrote newspaper and magazine columns on economic policy, and his op-ed pieces still appear regularly in various newspapers.
Blinder has been vice president of the American Economic Association and is a member of both the American Philosophical Society and the American Academy of Arts and Sciences. He has two grown sons, and lives in Princeton with his wife, where he plays tennis as often as he can.
Table of ContentsPART I: GETTING ACQUAINTED WITH ECONOMICS. 1. What Is Economics? 2. The Economy: Myth and Reality. 3. The Fundamental Economic Problem: Scarcity and Choice. 4. Supply and Demand: An Initial Look. PART II: THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND. 5. The Realm of Macroeconomics. 6. The Goals of Macroeconomic Policy. 7. Economic Growth: Theory and Policy. 8. Aggregate Demand and the Powerful Consumer. 9. Demand-Side Equilibrium: Unemployment or Inflation? 10. Supply-Side Equilibrium: Unemployment and Inflation? PART III: FISCAL AND MONETARY POLICY. 11. Managing Aggregate Demand: Fiscal Policy. 12. Money and the Banking System. 13. Monetary Policy and the National Economy. 14. The Debate Over Monetary and Fiscal Policy. 15. Fiscal Policy, Monetary Policy, and Growth. 16. Inflation and Growth: The Phillips Curve. PART IV: THE UNITED STATES IN THE WORLD ECONOMY. 17. International Trade and Comparative Advantage. 18. The International Monetary System: Order or Disorder? 19. Exchange Rates and the Macroeconomy.