Synopsis
With wit and verve, this book explains the logic, language, and worldview of economic theory and engagingly describes the organization and performance of the U.S. economy. Its combination of theory and description is essential for understanding debates about current affairs, penetrating the literature of economics, and reflecting on the usefulness and limits of economic analysis. A capstone chapter on the international economy puts Bretton Woods in contemporary context.
Booknews
An introduction to the basic concepts of economic theory that aims to provide enough understanding for lay readers to decipher current events and to decode some professional economics literature. Chapters cover demand and supply; the theory of the firm, market structures, and the distribution of income; definitions and analyses in macroeconomics; fiscal policy, monetary policy, recession, and inflation; international economics and comparative advantage; and the international financial institutions. Annotation c. Book News, Inc., Portland, OR (booknews.com)