Political Econ.Of Capitalism (Custom) / Edition 2 available in Paperback
- Pub. Date:
- Cengage Learning
Toruno takes a classical approach to the study of economics, one that highlights the role of surplus production by building on the contemporary work of Institutionalists, Marxists and Post Keynesians. It covers many of the same technical concepts used in a principles course, but from this alternative, heterodox approach. At the same time, it views economic behavior from the perspective of social provisioning or social reproduction.
|Edition description:||New Edition|
|Product dimensions:||8.50(w) x 10.70(h) x 0.60(d)|
About the Author
Mayo Toruño, California State University, San Bernardino
Mayo Toruño is a Professor of Economics at California State University, San Bernardino (CSUSB). He has degrees (B.A. and M.A.) in political science and economics from California State University, Los Angeles and earned a Ph.D. in economics from the University of California at Riverside in 1983. He taught at the University of Wisconsin at Eau Claire from 1980 to 1983, joined the faculty at CSUSB in 1983, and served as chair of the economics department at CSUSB from 1994 to 2000. His teaching interests include political economy, social economics, history of economic thought, and Latin American political economy. He has published in the Journal of Economic Issues, the Review of Radical Political Economics, and the Review of Social Economics; and is currently serving on the editorial board of the Journal of Economic Issues. Professor Toruño has lived in Nicaragua and has traveled through M©xico, Central America, and Cuba.
Table of Contents
Preface Using Atomic Dog Textbooks Recommended System Requirements Minimum System Requirements Printing Atomic Dog Textbooks Preface Online and in Print Acknowledgments Part 1 - The Setting Chapter 1 - Surplus Producing Economies 1-1The Economic Imperative and Political Economy 1-2Economic Viability 1-3Surplus Production and Economic Growth 1-4The Means of Production 1-5Labor Chapter Appendix: The Consumption/Growth Trade-Off Chapter 2 - Property, Income, and Power 2-1Property and Government 2-2Capitalism and Commodity Producing Societies 2-3Property and Income 2-4Class Structure 2-5Class, Power, and Income Chapter 3 - Markets and Income 3-1The Process of Creative Destruction 3-2Free Markets 3-3Markets, Money, and Brokers 3-4Supply and Demand 3-5Profits and Wages Chapter 4 - The Social Structure of Production 4-1The Transactions Matrix 4-2GDP and the Wage Bill 4-3Patterns of Production 4-4Core and Periphery 4-5The Golden Age and the Silent Depression Chapter 5 - Government 5-1Economic Freedom and the Capitalist State 5-2The Economic Functions of Government 5-3Seeking Shelter from the Storm: Structures of Accumulation 5-4Democracy, Power, and Politics 5-5The Rise and Fall of the Welfare State Part 2 - Profit, Wages, and Prices Chapter 6 - Consumption and the Cost of Living 6-1Socially Necessary Consumption 6-2The Consumption Function 6-3Consumption Recipes and Relative Prices 6-4Income and Substitution Effects, Saving, and Borrowing 6-5The Demand Curve and Elasticities Chapter 7 - Production and Costs 7-1On the Nature of Cost 7-2Fixed and Variable Cost 7-3Direct Inputs and Labor Extraction 7-4Machines and Overhead Labor 7-5Diminishing Marginal Returns Chapter Appendix: The Analytics of Cost Chapter 8 - Pricing, Profits, and Monopoly Power 8-1Price Setters and Price Takers 8-2The Markup 8-3The Sales Effort and Profit Realization 8-4Monopoly Power and Price Elasticity 8-5The Distribution of Income within the Firm Chapter Appendix: Profit Maximization Chapter 9 - Product Market Competition 9-1Competition, Accumulation, and Market Structures 9-2Income, Prices, and Competition 9-3Short-Run and Long-Run Outcomes 9-4The Periphery and Monopolistic Competition 9-5Oligopoly, Monopoly, and the Core Chapter 10 - The Wages of Labor 10-1The Labor Market 10-2The Demand for Labor 10-3Productivity, Wages, and Work Extraction 10-4The Supply of Labor 10-5Wages and the Competition for Jobs Chapter Appendix: The Demand For Labor Part 3 - Employment, Investment, and Growth Chapter 11 - National Income and Employment 11-1Some Preliminaries 11-2Aggregate Supply 11-3Aggregate Demand: Consumption and Investment Spending 11-4Aggregate Demand: Government Spending and Net Exports 11-5Income Determination and Effective Demand Chapter Appendix: The Analytics of Effective Demand Chapter 12 - Inflation and Unemployment 12-1The Business Cycle, Employment, and Effective Demand 12-2The Labor Markup and the Price Level 12-3Inflation 12-4Inflation, Unemployment, and the Struggle for Income 12-5International Trade, Inflation, and Unemployment Chapter 13 - Money and Credit 13-1Definitions and Measures of Money 13-2Banking and the Production of Money 13-3Bonds, Stocks, and Financial Markets 13-4Interest Rates and the Supply of Money 13-5Interest Rates and the Demand for Money Chapter 14 - Investment and Economic Growth 14-1Investment and the Multiplier 14-2Saving and Investment 14-3Investment and Future Profitability 14-4Financing Investment 14-5Cycles, Growth, and Employment Chapter 15 - Government and Effective Demand 15-1Aggregate Supply, Aggregate Demand, and the Public Sector 15-2Fiscal Policy and Effective Demand 15-3Monetary Policy and Effective Demand 15-4Deficit Spending, Monetary Policy, and Government Debt 15-5The Political Economy of Full Employment