Skip to content
Scan a barcode
Scan
Hardcover Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly Book

ISBN: 0691154945

ISBN13: 9780691154947

Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly

Select Format

Select Condition ThriftBooks Help Icon

Recommended

Format: Hardcover

Condition: Very Good*

*Best Available: (missing dust jacket)

$10.09
Save $19.86!
List Price $29.95
Almost Gone, Only 1 Left!

Book Overview

A masterful introduction to the key ideas behind the successes--and failures--of free-market economics

Since 1946, Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain why markets often work so well, but it can't explain why they often fail so badly--or what we should do when they stumble. As Nobel Prize-winning economist Paul Samuelson quipped, "When someone preaches 'Economics in one lesson, ' I advise: Go back for the second lesson." In Economics in Two Lessons, John Quiggin teaches both lessons, offering a masterful introduction to the key ideas behind the successes--and failures--of free markets.

Economics in Two Lessons explains why market prices often fail to reflect the full cost of our choices to society as a whole. For example, every time we drive a car, fly in a plane, or flick a light switch, we contribute to global warming. But, in the absence of a price on carbon emissions, the costs of our actions are borne by everyone else. In such cases, government action is needed to achieve better outcomes.

Two-lesson economics means giving up the dogmatism of laissez-faire as well as the reflexive assumption that any economic problem can be solved by government action, since the right answer often involves a mixture of market forces and government policy. But the payoff is huge: understanding how markets actually work--and what to do when they don't.

Brilliantly accessible, Economics in Two Lessons unlocks the essential issues at the heart of any economic question.

Related Subjects

Business Business & Investing

Customer Reviews

0 rating
Copyright © 2025 Thriftbooks.com Terms of Use | Privacy Policy | Do Not Sell/Share My Personal Information | Cookie Policy | Cookie Preferences | Accessibility Statement
ThriftBooks ® and the ThriftBooks ® logo are registered trademarks of Thrift Books Global, LLC
GoDaddy Verified and Secured
Timestamp: 5/27/2025 3:03:37 PM
Server Address: 10.21.32.106