Common Sense Economics What Everyone Should

"The authors tell us what everyone should know about economics in language we can all understand. It's refreshing when four of the best in the profession avoid the all-too-common practice of writing in a code that only other economists can comprehend." ---Robert McTeer, former president of the Federal Reserve Bank of DallasWith the global economy recovering from a steep recession, those who fail to grasp basic economic principles such as gains from trade, the role of profit and loss, and the secondary effects of government spending, taxes, and borrowing risk falling behind in their professional careers--even their personal lives.Common Sense Economicsdiscusses key principles and uses them to show how to make wise personal and policy choices.This new edition of a classic, with reflections on the recent recession and the policy response to it, illuminates our world and what might be done to make it better.

James Gwartney holds the Gus A. Stavros Eminent Scholar Chair at Florida State University and is the director of the Stavros Center for the Advancement of Free Enterprise and Economic Education.

Richard Stroup is the author of Eco-Nomics and an adjunct professor of economics at North Carolina State University.

Dwight Lee is coauthor of Getting Rich in America and holds the William J. O’Neil Chair of Global Markets and Freedom at Southern Methodist University.

Tawni Hunt Ferrarini is the Sam M. Cohodas Professor of Economics and the Director of the Center for Economic Education and Entrepreneurship at Northern Michigan University.

Preface	p. ix
Twelve Key Elements of Economics	p. 1
Seven Major Sources of Economic Progress	p. 41
Economic Progress and the Role of Government	p. 91
Twelve Key Elements of Practical Personal Finance	p. 145
Acknowledgements	p. 191
Notes	p. 193
Glossary	p. 203
List of Supplemental Units	p. 213
Suggested Additional Readings	p. 215
Index	p. 217
About the Authors	p. 225
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Common Sense Economics What Everyone Should Know About Wealth and Prosperity

Summary

Author Biography

Table of Contents

Supplemental Materials