Famous Fables Of Economics

Famous Fables of Economics critiques some of our most cherished stories of market failure.

"I had the good fortune to grow up in a wonderful area of Jerusalem, surrounded by a diverse range of people: Rabbi Meizel, the communist Sala Marcel, my widowed Aunt Hannah, and the intellectual Yaacovson. As far as I'm concerned, the opinion of such people is just as authoritative for making social and economic decisions as the opinion of an expert using a model." Part memoir, part crash-course in economic theory, this deeply engaging book by one of the world's foremost economists looks at economic ideas through a personal lens. Together with an introduction to some of the central concepts in modern economic thought, Ariel Rubinstein offers some powerful and entertaining reflections on his childhood, family and career. In doing so, he challenges many of the central tenets of game theory, and sheds light on the role economics can play in society at large. Economic Fables is as thought-provoking for seasoned economists as it is enlightening for newcomers to the field.

This volume is a sampling of quips, verses, drawings, and even the music of one of the most original and versatile minds of the twentieth century, Kenneth Boulding prominent economist, lecturer, and author.The driving force behind Kenneth Boulding's wideranging book is that he truly en joys all that he does. Indeed, his greatest accomplishment may very well be that he was a profoundly happy man. This is reflected in works that are laced with beauty, wit, and extraordinary imagery-works that are often composed and appeared in the most unexpected of places. In the midst of one of the classic textbooks of his generally staid profession, Economic Analysis, Boulding introduced the "bathtub theorem." Illustrating Economics: Beasts, Ballads and Aphorisms is a collection of similar instances and, as such, it is fun.The reader should be advised that the book contains traps. Boulding coats his ideas with sugar to please his audience as well as promote consumption. He describes peace as "a drab girl with an olive branch corsage whom no red-blooded American (or Russian) could conceivably warm up to." The reader smiles at the recognition of the truth inherent within the image and ponders the irony of why so fine a state as peace should be regarded as dull, and so ugly a condition as war should be regarded as romantic. This book is for enjoyment, but it should carry the following warning: Caution-Reading this may be stimulating to your intellect.

2018 Reprint of 1962 Edition. Abridged Edition. Full facsimile of the 1962 edition. Not reproduced with Optical Recognition software. Originally published in book form in 1714, this masterpiece of eighteenth-century British satire sparked great social controversy by rejecting a positive view of human nature and arguing the necessity of vice as the foundation of an emerging capitalist economy. Mandeville suggests many key principles of economic thought, including division of labor and the "invisible hand," seventy years before these concepts were more thoroughly elucidated by Adam Smith. Two centuries later, the noted economist John Maynard Keynes cited Mandeville to show that it was "no new thing ... to ascribe the evils of unemployment to ... the insufficiency of the propensity to consume," a condition also known as the paradox of thrift, which was central to his own theory of effective demand. At the time, however, it was considered scandalous.

Straight answers to every question you've ever had about how the economy works and how it affects your life In this Collector's Edition of their celebrated How an Economy Grows and Why It Crashes, Peter Schiff, economic expert and bestselling author of Crash Proof and The Real Crash, once again teams up with his brother Andrew to spin a lively economic fable that untangles many of the fallacies preventing people from really understanding what drives an economy. The 2010 original has been described as a “Flintstones” take economics that entertainingly explains the beauty of free markets. The new edition has been greatly expanded in both quantity and quality. A new introduction and two new illustrated chapters bring the story up to date, and most importantly, the book makes the jump from black and white to full and vivid color. With the help of colorful cartoon illustrations, lively humor, and deceptively simple storytelling, the Schiff's bring the complex subjects of inflation, monetary policy, recession, and other important topics in economics down to Earth. The story starts with three guys on an island who barely survive by fishing barehanded. Then one enterprising islander invents a net, catches more fish, and changes the island’s economy fundamentally. Using this story the Schiffs apply their signature take-no-prisoners logic to expose the glaring fallacies and gaping holes permeating the global economic conversation. The Collector’s Edition: Provides straight answers about how economies work, without relying on nonsensical jargon and mind-numbing doublespeak the experts use to cover up their confusion Includes a new introduction that sets the stage for developing a deeper, more practical understanding of inflation and the abuses of the monetary system Adds two new chapters that dissect the Federal Reserve’s Quantitative easing policies and the European Debt Crisis. Colorizes the original book's hundreds of cartoon illustrations. The improved images, executed by artist Brendan Leach from the original book, add new vigor to the presentation Has a larger format that has been designed to fit most coffee tables. While the story may appear simple on the surface, as told by the Schiff brothers, it will leave you with a deep understanding of How an Economy Grows and Why It Crashes.