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The Economics of Public Issues / Edition 13

The Economics of Public Issues / Edition 13


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Is Your Bank Manager Headed to Vegas with Your Money?

Are We Running Out of Water?

Kidneys for Sale-Does a Market for Human Organs Make Sense?

The Economics of Public Issues continues to bring economic policy discussions to life. Through a collection of brief, relevant readings, questions like these spark independent thinking and lively classroom discussions. This new edition features:

Eight new chapters that tackle critical economic policies and issues

Updates to ongoing policy debates, reflecting the latest developments

A flexible format and built-in correlation guide to make it easy to integrate into any course

Online Instructor's Manual-teaching the course just got easier

This book was written by the authors of the best-selling title The Economics of Macro Issues, now in its fourth edition, and is perfect on its own or as a companion text to any economics or social issues courses.

Product Details

ISBN-13: 9780321118738
Publisher: Pearson
Publication date: 07/25/2002
Edition description: Older Edition
Pages: 240
Product dimensions: 5.48(w) x 7.84(h) x 0.34(d)

About the Author

Roger LeRoy Miller received his PhD from the University of Chicago. Miller is a legal specialist and author of numerous books on law and the legal environment, including criminal procedure. In addition, Miller has authored books on the war on drugs, the economics of crime and criminal behavior, and on related topics.

Daniel K. Benjamin is an Alumni Distinguished Professor in the John E. Walker Department of Economics, Clemson University. He graduated Phi Beta Kappa from the University of Virginia and completed his PhD in economics in 1975 at the University of California at Los Angeles where he was a National Science Foundation Fellow. Benjamin has taught at Montana State University, the University of Washington, and the University of California at Santa Barbara. He is Alumni Distinguished Professor Emeritus at Clemson University.

Douglass C. North

Table of Contents

Preface xi

Part 1 The Foundations of Economic Analysis 1

1 Death by Bureaucrat (when bureaucratic choices mean life for some people-and death for others) 4

2 Ethanol Madness (how one government policy illustrates the nature of all government policy) 10

3 Flying the Friendly Skies? (how safe is commercial air travel? How safe should it be?) 14

4 The Mystery of Wealth (why some nations are rich and others are poor) 19

Part 2 Supply and Demand 25

5 Sex, Booze, and Drugs (the unintended and often harmful consequences of prohibiting voluntary exchange) 29

6 Kidneys for Sale (does a market for human organs make sense?) 36

7 When High Prices Are Low Prices (why "record high prices" are often much lower than they seem) 42

8 Are We Running Out of Water? (on a planet that's two-thirds water, how can we be running out of the stuff?) 47

9 The (Dis)incentives of Higher Taxes (how high taxes illustrate the old adage that "there is no free lunch") 53

10 Bankrupt Landlords, from Sea to Shining Sea (when governments lower rents, tenants can suffer) 58

Part 3 Labor Markets 65

11 (Why) Are Women Paid Less? (why are women paid less while men are working less?) 67

12 The Effects of the Minimum Wage (how a "living wage" can ruin the lives of minority youngsters) 72

13 Immigration, Superstars, and Poverty (are the rich getting richer and the poor getting poorer-and if not, why does it look that way?) 76

14 A Farewell to Jobs (why efforts to "save jobs" make us all poorer) 83

Part 4 Market Structures 89

15 Big Oil, Big Oil Prices? (does ExxonMobil really decide how much we pay at the pump?) 92

16 Contracts, Combinations, and Conspiracies (why the NCAA and OPEC have morethan four-letter names in common) 97

17 Coffee, Tea, or Tuition-Free? (who wins and who loses from price discrimination) 102

18 College Costs (...and Costs and Costs) (college costs have tripled, but the quality of the product hasn't; what's going on?) 107

19 Keeping the Competition Out (when the government steps in, the competition steps out) 112

Part 5 Political Economy 117

20 Mortgage Meltdown (how Congress got us into the mortgage market mess) 121

21 The Political Economy of Collapsing Bridges (when shortsighted political decisions lead to long-term troubles) 127

22 Is Your Bank Manager Headed to Vegas with Your Money? (how deposit insurance encourages risky behavior by commercial banks) 132

23 Raising Less Corn and More Hell (how your tax dollars end up in farmers' pockets) 137

24 Crime and Punishment (incentives matter-especially to criminals) 143

25 The Graying of America (America is getting older, and you will foot the bill) 148

Part 6 Property Rights and the Environment 153

26 The Trashman Cometh (the costs and benefits of recycling) 156

27 Bye-Bye, Bison (why some species are endangered and others aren't) 163

28 Smog Merchants (how markets can reduce pollution) 170

29 Greenhouse Economics (the economics of global climate change) 175

Part 7 Globalization and Economic Prosperity 181

30 Globalization and the Wealth of America (is globalization all bad?) 183

31 The $750,000 Steelworker (the economic consequences of restricting international trade) 189

32 The Lion, the Dragon, and the Future (do China, India, and other modernizing nations herald the demise of America?) 194

Glossary 199

Selected References 209

Index 219

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