Understanding Capitalism: Competition, Command, and Change, Third Edition, is an introduction to economics that explains how capitalism works, why it sometimes does not work as well as we would like it to, and how over time it not only changes but also revolutionizes the world around us. The "three-dimensional approach" of the text focuses on competition in markets; commaUnderstanding Capitalism: Competition, Command, and Change, Third Edition, is an introduction to economics that explains how capitalism works, why it sometimes does not work as well as we would like it to, and how over time it not only changes but also revolutionizes the world around us. The "three-dimensional approach" of the text focuses on competition in markets; command in firms, governments, and international relations; and change as a permanent feature of a capitalist economy driven by technical innovation and conflict over the distribution of income.The book covers the standard topics of supply and demand, market competition, imperfect competition, aggregate demand, inflation, and unemployment. It emphasizes the extraordinary dynamism and material productivity of the capitalist economy; the psychological foundations of human behavior; the logic and limitations of Adam Smith's invisible hand; technical change and the new information-based economy; global economic integration and its impact on national economies; the impact of economic activity on the environment; and inequality both within and among nations. In addition, it provides a critical evaluation of the tenets of neoclassical economics, a clear introduction to contract theory, and material drawn from new research in behavioral, institutional, and information economics.Understanding Capitalism, Third Edition, is ideal for undergraduate courses in economics and political economy. An Instructor's Manual is available to adopters.FEATURES OF THE THIRD EDITION-Offers a new chapter on the behavioral foundations of economics, showing that the selfishness of the "economic man" leaves out the important role of other social motives and how individual tastes and values evolve in response to experiences-Includes a new chapter that examines how economic success (and poverty) are passed on from parents to children and also looks at the increasing inequality of income and wealth along lines of race and gender-Presents a completely revised and expanded treatment of the revolutionary changes that have been associated with capitalism over the past three centuries-Provides boxed treatments of issues that can serve as the basis of classroom discussions-Defines important terms in the margins throughout the text-Contains a section entitled "Sources of Economic Information" that helps readers locate relevant outside data, both in print and online...
|Title||:||Understanding Capitalism: Competition, Command, and Change|
|Number of Pages||:||608 Pages|
|Status||:||Available For Download|
|Last checked||:||21 Minutes ago!|
Understanding Capitalism: Competition, Command, and Change Reviews
This is an economic text and my 5-star rating is based on that fact.This book was used in my economics coursework while earning an MBA in Sustainable Business. Having already studied Econ fairly extensively while earning a BA in business, this book opened my eyes to how our system actually functions.The book combines both micro and marco economics. The Preface says "[This book] is an introduction to economics that explains how capitalism works, why it sometimes doesn't work as well as we'd like, and how over time it not only change its own functioning but also revolutionizes the world around us. The book does not assume that the reader has any prior knowledge of economics."I have an undergrad in business, an MBA in Sustainable Business, I am a business owner, a business advisor, a certified public accountant, and I have securities licenses and insurance licenses. Given all that, I can safely say I know a bit about business and economics. This book taught me a ton I didn't know.I highly recommend this book.
Who likes economics textbooks? So this book made political economists out of a bunch of touchy, feely granola crunching environmentalists and social activists. If you ever find a reason to understand the science of economics and you give a shit about the consequences of economic policy on social justice and the environment- here you go.
Among the best books I've ever read. Though a significant part of it consists of detailed analysis of socioeconomical phenomena that any alert person with an average brain understands without having to read a book, it is quite different to see common sense and intuition supported by statistics, diagrams, real-life examples, and even mathematical formalizations, than mere arguments. An equally significant part of the book analyses phenomena that require a basic comprehension of economics and perhaps some more technical knowledge, which makes this book even more worth reading. The authors are rather objective, pointing out many of the weaknesses and problems of capitalism along with its' benefits, while other academics tend to stick more to the latter.If all voters had read this book our world would be a better place
A very good book for everyone who is new to economics and wants to understand the basics of how capitalism works as well as how the economy affects politics and society. I thought it was surprisingly objective and unbiased even though it appears that it has been written by progressive, left-leaning authors.