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Quiggin, John. Economics in two lessons: why markets work so well, and why they can fail so badly / John Quiggin. — 1 online resource : illustrations (black and white). — <URL:http://elib.fa.ru/ebsco/1922561.pdf>.Record create date: 3/7/2019 Subject: Free enterprise.; Economics.; Capitalism.; Capitalism.; Economics.; Free enterprise.; BUSINESS & ECONOMICS / Economics / General; BUSINESS & ECONOMICS / Reference Collections: EBSCO Allowed Actions: –
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Table of Contents
- Cover
- Title
- Copyright
- CONTENTS
- ACKNOWLEDGMENTS
- Introduction
- Outline of the Book
- Further Reading
- LESSON ONE, PART I: THE LESSON
- Chapter 1. Market Prices and Opportunity Costs
- 1.1. What Is Opportunity Cost?
- 1.2. Production Cost and Opportunity Cost
- 1.3. Households, Prices, and Opportunity Costs
- 1.4. Lesson One
- 1.5. The Intellectual History of Opportunity Cost
- Further Reading
- Chapter 2. Markets, Opportunity Cost, and Equilibrium
- 2.1. TISATAAFL (There Is Such A Thing As A Free Lunch)
- 2.2. Gains from Exchange
- 2.3. Trade and Comparative Advantage
- 2.4. Competitive Equilibrium
- 2.5. Free Lunches and Rents
- 2.6. Adam Smith and the Division of Labor
- Further Reading
- Chapter 3. Time, Information, and Uncertainty
- 3.1. Interest and the Opportunity Cost of (Not) Waiting
- 3.2. Information
- 3.3. Uncertainty
- Further Reading
- Chapter 1. Market Prices and Opportunity Costs
- LESSON ONE, PART II: APPLICATIONS
- Chapter 4. Lesson One: How Opportunity Cost Works in Markets
- 4.1. Tricks and Traps
- 4.2. Airfares
- 4.3. The Cost of (Not) Going to College
- 4.4. An Exception That Proves the Rule: The Boom and Bust in Law Schools
- 4.5. TANSTAAFL: What about “Free” TV, Radio, and Internet Content?
- Further Reading
- Chapter 5. Lesson One and Economic Policy
- 5.1. Why Price Control Doesn’t (Usually) Work
- 5.2. To Help Poor People, Give Them Money
- 5.3. Road Pricing
- 5.4. Fish and Tradable Quota
- 5.5. A License to Print Money: Property Rights and Telecommunications Spectrum
- 5.6. Concluding Comments
- Further Reading
- Chapter 6. The Opportunity Cost of Destruction
- 6.1. The Glazier’s Fallacy
- 6.2. The Economics of Natural Disasters
- 6.3. The Opportunity Cost of War
- 6.4. Technological Benefits of War?
- Further Reading
- Chapter 4. Lesson One: How Opportunity Cost Works in Markets
- LESSON TWO, PART I: SOCIAL OPPORTUNITY COSTS
- Chapter 7. Property Rights and Income Distribution
- 7.1. What Lesson Two Tells Us about Property Rights and Income Distribution
- 7.2. Property Rights and Market Equilibrium
- 7.3. The Starting Point
- 7.4. Property Rights and Natural Law
- 7.5. Pareto and Inequality
- 7.6. Conclusion
- Further Reading
- Chapter 8. Unemployment
- 8.1. Macroeconomics and Microeconomics
- 8.2. The Business Cycle
- 8.3. The Experience of the Great and Lesser Depressions
- 8.4. Are Recessions Abnormal?
- 8.5. Unemployment and Opportunity Cost
- 8.6. The Macro Foundations of Micro
- 8.7. Hazlitt and the Glazier’s Fallacy
- Further Reading
- Chapter 9. Monopoly and Market Failure
- 9.1. The Idea of Market Failure
- 9.2. Economies of Size
- 9.3. Monopoly
- 9.4. Oligopoly
- 9.5. Monopsony and Labor Markets
- 9.6. Bargaining
- 9.7. Monopoly and Inequality
- Further Reading
- Chapter 10. Market Failure: Externalities and Pollution
- 10.1. Externalities
- 10.2. Pollution
- 10.3. Climate Change
- 10.4. Public Goods
- 10.5. The Origins of Externality
- Further Reading
- Chapter 11. Market Failure: Information, Uncertainty, and Financial Markets
- 11.1. Market Prices, Information, and Public Goods
- 11.2. The Efficient Markets Hypothesis
- 11.3. Financial Markets, Bubbles, and Busts
- 11.4. Financial Markets and Speculation
- 11.5. Risk and Insurance
- 11.6. Bounded Rationality
- 11.7. What Bitcoin Reveals about Financial Markets
- Further Reading
- Chapter 7. Property Rights and Income Distribution
- LESSON TWO, PART II: PUBLIC POLICY
- Chapter 12. Income Distribution: Predistribution
- 12.1. Income Distribution and Opportunity Cost
- 12.2. Predistribution: Unions
- 12.3. Predistribution: Minimum Wages
- 12.4. Predistribution: Intellectual Property
- 12.5. Predistribution: Bankruptcy, Limited Liability, and Business Risk
- Further Reading
- Chapter 13. Income Distribution: Redistribution
- 13.1. The Effective Marginal Tax Rate
- 13.2. Opportunity Cost of Redistribution: Example
- 13.3. Weighing Opportunity Costs and Benefits
- 13.4. How Much Should the Top 1 Percent Be Taxed?
- 13.5. Policies for the Present and the Future
- 13.6. Geometric Mean
- Further Reading
- Chapter 14. Policy for Full Employment
- 14.1. What Can Governments Do about Recessions?
- 14.2. Fiscal Policy
- 14.3. Monetary Policy
- 14.4. Labor Market Programs and the Job Guarantee
- 14.5. One Lesson Economics and Unemployment
- 14.6. Summary
- Further Reading
- Chapter 15. Monopoly and the Mixed Economy
- 15.1. Monopoly and Monopsony
- 15.2. Antitrust
- 15.3. Regulation and Its Limits
- 15.4. Public Enterprise
- 15.5. The Mixed Economy
- 15.6. I, Pencil
- Further Reading
- Chapter 16. Environmental Policy
- 16.1. Regulation
- 16.2. Environmental Taxes
- 16.3. Tradeable Emissions Permits
- 16.4. Global Pollution Problems
- 16.5. Climate Change
- 16.6. Summary
- Further Reading
- Conclusion
- Chapter 12. Income Distribution: Predistribution
- BIBLIOGRAPHY
- INDEX
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