Foundations of Real-World Economics

What Every Economics Student Needs to Know

Business & Finance, Economics, Microeconomics, Macroeconomics
Cover of the book Foundations of Real-World Economics by John Komlos, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: John Komlos ISBN: 9781351584708
Publisher: Taylor and Francis Publication: January 11, 2019
Imprint: Routledge Language: English
Author: John Komlos
ISBN: 9781351584708
Publisher: Taylor and Francis
Publication: January 11, 2019
Imprint: Routledge
Language: English

The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization.

This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists.

A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization.

This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists.

A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.

More books from Taylor and Francis

Cover of the book Refugee Protection and the Role of Law by John Komlos
Cover of the book Power, Voice and Subjectivity in Literature for Young Readers by John Komlos
Cover of the book A Broadcast Engineering Tutorial for Non-Engineers by John Komlos
Cover of the book The Political Economy of Global Warming by John Komlos
Cover of the book Public Libraries in the 21st Century by John Komlos
Cover of the book Ethics and Reality by John Komlos
Cover of the book Georg Simmel: Rembrandt by John Komlos
Cover of the book Capital in Disequilibrium by John Komlos
Cover of the book Who's Who in Russia since 1900 by John Komlos
Cover of the book Regionalisation and Global Governance by John Komlos
Cover of the book Aeolian Winds and the Spirit in Renaissance Architecture by John Komlos
Cover of the book Computers, Schools and Students by John Komlos
Cover of the book New Approaches on Energy and the Environment by John Komlos
Cover of the book Child Sexual Abuse by John Komlos
Cover of the book A Description of the Coasts of East Africa and Malabar in the Beginning of the Sixteenth Century, by Duarte Barbosa, a Portuguese by John Komlos
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy