The Economics of Public Issues
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KEY BENEFIT: The Economics of Public Issues 16e is a collection of brief, relevant readings that spark independent thinking.KEY TOPICS: The Foundations of Economic Analysis; Supply and Demand; Labor Markets; Market Structures; Political Economy; Property Rights and the Environment; Globalization and Economic ProsperityMARKET: For readers interested in applying theoretical discussions to today’s important issues and gaining a deeper understanding of current economic policy concerns. Booknews An introduction to basic economic concepts and topics from a largely free-market perspective. Concepts are discussed using examples from current public issues ranging from communism to prostitution to the minimum wage. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Preface xiPart 1 The Foundations of Economic Analysis 11 Death by Bureaucrat (when bureaucratic choices mean life for some people-and death for others) 42 Ethanol Madness (how one government policy illustrates the nature of all government policy) 103 Flying the Friendly Skies? (how safe is commercial air travel? How safe should it be?) 144 The Mystery of Wealth (why some nations are rich and others are poor) 19Part 2 Supply and Demand 255 Sex, Booze, and Drugs (the unintended and often harmful consequences of prohibiting voluntary exchange) 296 Kidneys for Sale (does a market for human organs make sense?) 367 When High Prices Are Low Prices (why "record high prices" are often much lower than they seem) 428 Are We Running Out of Water? (on a planet that's two-thirds water, how can we be running out of the stuff?) 479 The (Dis)incentives of Higher Taxes (how high taxes illustrate the old adage that "there is no free lunch") 5310 Bankrupt Landlords, from Sea to Shining Sea (when governments lower rents, tenants can suffer) 58Part 3 Labor Markets 6511 (Why) Are Women Paid Less? (why are women paid less while men are working less?) 6712 The Effects of the Minimum Wage (how a "living wage" can ruin the lives of minority youngsters) 7213 Immigration, Superstars, and Poverty (are the rich getting richer and the poor getting poorer-and if not, why does it look that way?) 7614 A Farewell to Jobs (why efforts to "save jobs" make us all poorer) 83Part 4 Market Structures 8915 Big Oil, Big Oil Prices? (does ExxonMobil really decide how much we pay at the pump?) 9216 Contracts, Combinations, and Conspiracies (why the NCAA and OPEC have morethan four-letter names in common) 9717 Coffee, Tea, or Tuition-Free? (who wins and who loses from price discrimination) 10218 College Costs (...and Costs and Costs) (college costs have tripled, but the quality of the product hasn't; what's going on?) 10719 Keeping the Competition Out (when the government steps in, the competition steps out) 112Part 5 Political Economy 11720 Mortgage Meltdown (how Congress got us into the mortgage market mess) 12121 The Political Economy of Collapsing Bridges (when shortsighted political decisions lead to long-term troubles) 12722 Is Your Bank Manager Headed to Vegas with Your Money? (how deposit insurance encourages risky behavior by commercial banks) 13223 Raising Less Corn and More Hell (how your tax dollars end up in farmers' pockets) 13724 Crime and Punishment (incentives matter-especially to criminals) 14325 The Graying of America (America is getting older, and you will foot the bill) 148Part 6 Property Rights and the Environment 15326 The Trashman Cometh (the costs and benefits of recycling) 15627 Bye-Bye, Bison (why some species are endangered and others aren't) 16328 Smog Merchants (how markets can reduce pollution) 17029 Greenhouse Economics (the economics of global climate change) 175Part 7 Globalization and Economic Prosperity 18130 Globalization and the Wealth of America (is globalization all bad?) 18331 The $750,000 Steelworker (the economic consequences of restricting international trade) 18932 The Lion, the Dragon, and the Future (do China, India, and other modernizing nations herald the demise of America?) 194Glossary 199Selected References 209Index 219
