Book Description

"Macrodynamics is a venerable and important tradition, which fifty or sixty years ago engaged the best minds of the economics profession: among them Frisch, Tinbergan, Harrod, Hicks, Samuelson, Goodwin. Recently it has been in danger of being swallowed up by rational expectations, moving equilibrium, and dynamic optimization. We can be grateful to the authors of this book for keeping alive the older tradition, while modernizing it in the light of recent developments in techniques of dynamic modeling." -- James Tobin, Sterling Professor of Economics Emeritus, Yale University

Dynamic Macroeconomics is an attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using sophisticated tools from dynamic analysis, the authors introduce a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing--and currently dominant--equilibrium dynamics.

The book is organized into five parts. Part I covers background models of market-clearing and nonmarket-clearing approaches. Part II introduces short-run monetary models of macroeconomic fluctuations that build on the dynamic interaction of product, labor, and financial markets. Part III explores monetary instability in variants with capital accumulation and growth. Part IV explores supply and demand side Keynesian business cycles and monetary-type growth models. Part V considers the role of the financial sector as a source of instability and fluctuations. ... Read more

Reviews (1)

Briefly explains fundamental macroeconomics issues
I found this to be an excellant book for more advanced students (I encouraged mine to read it this past semester). The author gives a splendid explanation of the fundamental economic issues concerning monetary policy and the problems and challenges that plague a dynamic economy. ... Read more

Book Description

Steve Slavin's lively and comprehensive Macroeconomics student-friendly, step-by-step approach, coupled with its low price and built-in Workbook/Study Guide is very attractive to adopters. Instructors and students like the author's humorous anecdotes, direct language, and easy conversational style. The text encourages active rather than passive reading. ... Read more

Reviews (3)

more sinned against than sinning
Usually I would not bother to write a review of an economics text, but happening upon the other reviews of this book (there are two at the time of this writing), I feel that this book has been unfairly maligned and in need of some defense.

Its advantages:

1.The author writes in a clear, down-to-earth, non-stuffy tone that makes reading the text easy and, well, as painless as you're gonna get.He explains complicated economic graphs, curves, and concepts in plain, easy-to-understand language.

2.Very little math, other than rudimentary arithmetic and division, is required for this book.This can be great if the teacher is unsure about his students' math abilities.I have found that many economics textbooks complicate explanations mathematically without really adding much to anybody's understanding:Slavin does not do this.Even basic algebra is not required to navigate through this book.

3.It's cheap.Amazon's price will change now and again, but the price is easily half that of other comparable economics texts, such as Mankiw's and Blanchard's.This is great if the teacher knows that affordability is a major concern for the students.

As for Slavin's politics, I would agree that his stance on many issues can be inferred from his discussions of them in the book.However, the discussions are always fair and not tendentious.

For example, when discussing what "full employment" consists of, he says something like:"We'll take 5% as representing an economy's full employment.Why?Simply because this is a compromise between the 4% favored by liberals and the 6% favored by conservatives."

So the book is not so much tendentious as forthcoming and even-handed.I feel the other reviews unfairly paint this text as the screed of some unbalanced liberal.Although I do not agree with the author on many issues, this is simply not the impression I got with the book:I was very satisfied with it.

Laced with inappropriate political opinion
This book does a fair job of presenting basic macroeconomic principles. Unfortunately, it is heavily laced with the political opinions of the author. He has many opinions about what the U.S. government and people ought to be doing, and doesn't miss many opportunities to let the reader know what's being done wrong.

Whenever a comparison between some economic aspect of the US and other countries is to be shown in a chart, they are chosen so that the US is listed at one extreme. For example, on page 155, a box with the title "Should Our Gasoline Taxes Be Raised?" has a list of countries with their taxes. The United States is listed dead last. There many instances where the other countries to be compared are chosen to give the impression that the U.S. policy is extreme.

On page 109, under the title "Why Do We Spend So Much and Save So Little?" is an entire paragraph of editorial comments, including "The 'me generation' has had a fascination for every conceivable type of electronic gadget, has had to buy new wardrobes every six months as the fashions change, and has had to drive the latest-model, fully loaded luxury foreign car. In fact, much of what we buy is made by foreigners."

These are not isolated examples. The book is littered with them from beginning to end.

In summary, I would not recommend this book to anyone. I would not recommend it to instructors or students. If you are signed up for a class that requires this book, you should seriously consider dropping the class.

Slavin's Macroeconomics for Democrats
The book is interesting but I feel it is somewhat tainted with Democratic Party ideals. This book is required for my college so I was forced to read and learn from it. The economic issues seem to bash the Republican Party and others which do not share the views of the Democratic Party. i would not recommend the book unless it is a reading requirement for college. ... Read more

Book Description

The central goal of this text is to address all of the fundamental macroeconomic theories and policy issues in the discipline within a compact and highly accessible text.It features a strong focus on instilling a learner's conceptual understanding of the discipline through a wealth of pedagogically sound features designed to teach and reinforce the material.This is the only intermediate macroeconomics text that fully integrates global economics from the very beginning.Additionally, it is also the first and only text on the market to offer a fully-integrated program of accompanying online resources and multimedia tools that enhance a reader's study of macroeconomic theory. ... Read more

Book Description

The papers in this collection give an overview of the latest work in international trade theory. The contributors include many of the most innovative contemporary theorists, and they provide an unrivaled introduction to the latest developments in one of the most dynamic subfields of economics. Distinctive features of the book include a section on the role of historical and geographical considerations in international trade; an emphasis on dynamic aspects of trade; and an assessment of the work of Ronald Jones, in whose honor the book is published. ... Read more

Book Description

Offering a unique blend of solid theoretical content and student accessibility, this text: 1) covers all the basics of macroeconomics, 2) gives students a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life.Many principles instructors are constantly challenged with the goal of getting students excited about realization that economics is everywhere! Arnold has taken this to another level. He is so passionate about touching his students that he felt the need to write a Macroeconomics text that is dedicated to opening the science of economics through the pictures and applications of our lives. Arnold is considered the most innovative author in this market to meet the fast pace interests of both instructors and students. His five themes of Theory and Model building, Key Concepts, Primary and Secondary Consequences, Real-World Applications, and the idea that Economics is about gifts, exchanges, and transfers, set the tone for a teaching text that is extremely approachable by instructors and students. ... Read more

Book Description

From one of the world's most respected business and social philosophers, a groundbreaking book that challenges us to question our reliance on traditional definitions of "success" and inspires us to find meaning and fulfillment in our professional, personal and spiritual lives.

Many of us, Charles Handy asserts, are confused and frustrated by the fast-paced, prosperous world we have created for ourselves. We are puzzled by the consequences of capitalism, whose material benefits and comforts we enjoy every day, but which also divides rich from poor, consumes so much of our energies, and does not always lead to a more contented life. In a world that is super-efficient, highly productive, and too often soulless, how do we quench our spiritual "hunger"?

In The Hungry Spirit, one of the most visionary business thinkers of our age offers a powerful argument for reexamining the role of work in our lives and discovering what we are truly meant to do and to be. Calling on individuals and organizations to find purpose in the journey we take rather than focusing on money and profits, which are simply the means to keep us going, Handy shows how we can all better ourselves and our companies while also contributing to a decent society.

As an oil executive, world-renowned economist, consultant, and professor at the London Business School, Handy himself was once no stranger to the trappings and fortunes of capitalism. But several years ago, Handy realized that he, like many of us, had placed too much significance on job titles and career success to the exclusion of his family, friends, and, especially, the fulfillment of his need to become a complete person, not just a worker slaving away in corporate machinery. He set about looking for what he calls his "white stone"--a symbol of the higher self that represents our true destiny, what you can become when you don't let titles and money and societal pressures get in the way.

Just as Handy urges all of us to seek our "white stone" and take greater responsibility for shaping our lives, he also entreats companies and organizations to push themselves to new heights by sticking to a clear-cut purpose. Companies, like individuals, can only grow if they embrace risk and break rules and attract people looking to turn dreams and new ideas into businesses that consumers and investors are excited about. Rather than trying to rally coworkers around a quarterly profit goal, companies must treat employees as citizens, as well as behaving as corporate citizens within the wider community. Handy calls for corporations to take a greater role in upholding the moral structure of society and to use their power to distribute knowledge and wealth to those who need the opportunity to develop--which will one day benefit us all.

A rare combination of engaging storytelling, philosophical exploration, and down-to-earth wisdom, The Hungry Spirit offers readers a powerful tonic for the profit-driven lives we've prescribed for ourselves and an inspiring message of hope. ... Read more

Reviews (10)

An interesting look at what capitalism could/should be.
In this book, Charles Handy lays out a thoughtful philosophy of how we should shape capitalism if we want to lead more meaningful lives.

This is yet another reminder that communities have to form around some larger purpose than mere economic exchange.

His references to the British think tank Demos is particularly interesting.

Handy's Best Work .... A Gem of a Masterpiece
Charles Handy is one of the most literate and eloquent writers in the English language. A lifetime of business experience and a tremendous intellectual depth make his books a tremendous pleasure to read. I've always found his books about 10 years prescient of profound trends in society. The Hungry Spirit gave me an important insight into interesting books I have not read, spiritual insights I had not yet confronted and in the end, a glimpse of spiritual strength I have not yet achieved. A rare and beautiful book. Scholars for several decades will look back on publication of this book as an important event.

Inadequate Understanding of Contemporary Capitalism
The Hungry Spirit is often confusing. The author freely acknowledges that modern capitalism operates according to the unrelenting market demands of efficiency and competitiveness, which maximizes the self-interests of an upper layer of market players but is detrimental to the financial and psychological well-being of the less well-placed who have either remained under corporate umbrellas or who have been discarded as redundant. Yet, on the other hand, he suggests that 'anyone with any intelligence and a bit of get-up-and-go can make money.' And for those who don't succeed, it must be because they have failed to develop 'an eye for a customer, the market, and a useful skill.' This is the understanding of an individual who early in life received both an elite education and a lucrative job posting for which he was admittedly mostly unqualified who has now decided in later years to both mildly point out the flaws of capitalistic society and chide those who haven't single-handedly overcome those economic forces.

The author attempts to fuse an emphasis on personal sovereignty, or what he sometimes calls 'proper selfishness,' and the need for community especially within business enterprises. Recognizing that it is increasingly likely that he or she will be left to fend for themselves in the harsh environment of free markets, the individual should not seek employment, per se, but should develop 'employability.' Of course, backpedaling, the author recognizes that the educational system as well as other institutions does little to develop and sustain a society of entrepreneurs. The 'one-shot' chance at an education of forgettable facts is largely useless to those who desire/must operate service businesses. But this harsh reality is not all bad; the author insists that there is a widespread 'hunger' for personal growth that will be a part of developing employability. Work that has a greater purpose will increasingly be sought. Does walking the dogs or trimming the grass of elites qualify?

This line of thinking also has ramifications within corporations. These newly 'inner-directed' employees will reject being regarded as 'human resources' or managed as some kind of business cost. They will settle for nothing less than being viewed as citizens of their companies with 'rights of residence, justice, free speech, a share of the wealth ', and a say in the governance of their [companies].' The author correctly acknowledges that the democratic reorganization of companies seems like a 'trade union manifesto,' which does not comport well with his expressed anti-union convictions. Other than through the insistence of these newly redirected employees, the author is unclear as to how the major redistribution of power that will be required to establish 'companies of citizens' will occur. Of course, the compelling question is why the author is concerned about businesses as communities. Properly selfish, self-employed, citizens no longer need to work for corporations, right?

Despite the fact that the author generally regards laissez-faire economics as troublesome for the greater society, he seems unwilling to advocate for political processes to exert much control over its excesses. In fact, he suggests that major issues are best decided outside the political process beyond the level of the nation-state by pressures from global markets or by international economic (WTO) and military alliances. Citizens/voters should confine themselves to local issues of roads and schools and police and hospitals. This minimalist view of politics and government is hardly adequate to address the effects of the 'bottom line' thinking of modern capitalism for which the author expresses concern. The revamping of educational systems to include life-long learning with replacement income during schooling and the restructuring of corporations will require greater, not lesser, political intervention.

As a critique of capitalistic society, this book is marginal at best. The author's focus on the drive for money and the workings of market forces doesn't begin to explain the structure of capitalistic societies. Absent are virtually any descriptions of the power structures in society and, most importantly, the domination of contemporary culture and the control of information by media empires. It is clear that the author has little appreciation for the profound role of citizen empowerment whether that is through the political process or such bodies as unions that will be necessary to counter the forces of modern capitalism. The idea that half of society becoming entrepreneurs trying to sell services to each other or to a layer of elites without significantly countering present economic forces will represent a general advancement for society is dubious at best. If anything, it seems a certain path for a First-World country to become a Second- or Third-World country.

Wonderfully challenging
Handy is an incredible author. Reading this book was like sitting at the feet of one of the elders at the gate. He's incredible insightful and thought provoking. I highly recommend this book.

Thought Provoking!
Mr Handy has some very thought provoking ideas about capitalism, work and meaning of life. It was his 'Personal Preface' that attracted me to buy the book. As he said in the conclusion, "Life without hope is dismal."; I wanted to find out what he meant. In Part A of the book he talks about the impact of capitalism on the capitalist society . He explores the inefficiency and ineffectiveness of the marketplace and competition. It is in Part B where the main substance of the book is. It is about the self and how individuals should respond. He profiles the changing world of work over the years and its impact on individuals. In reading the section on self-knowledge and self-awareness, I found the 'obituary exercise' took a new meaning in the context of what I had read; although I had done this exercise several times previously. Learning to live with others and discovering connectivity with society is an important aspect of living. This is very vividly brought out by Mr Handy. It is here I found hope that we could live more meaningful lifes. In Part C, there are some possible solutions to the dilemmas we face. It is in this part, Mr Handy elaborates on the 7 cardinal principles of trust. In the context of career management, the idea of of a school for life and work is a valuable concept. His chapter on the role of government mentions about the I's - information, involvement, individuality and infrastructure. He concludes in the epilogue with seven trends and indicators for the future. I would consider the book as required reading for anyone who wants to add value or meaning to their life, actively contribute to society or is interested in people. Unknown to us, I think all us have a 'Hungry Spirit' within us. Mr Handy's book may meet some of this hunger! ... Read more

Reviews (2)

comprehensive and objective
Slater thoroughly examines multiple and diverse theories addressing the whys, whens, and hows of consumption. He captures many of the paradoxes of "consumption" and "culture" without passing judgment on consumption. This book will give you an historical view of the role consumption has played in western societies, as well as an examination of some of consumption's current functions (identity formation, status signification, etc.). An excellent overview text for courses addressing consumption, but also a readable and thought-provoking discourse on consumption.

The indispensible and accessible introduction to this field.
Very readable, provocative; a superb course textbook. Makes the subject come alive. ... Read more

Book Description

Free trade can help 500 million people escape poverty and inject $200 billion annually into the economies of developing countries, according to a new study from the Institute for International Economics. Trade Policy and Global Poverty by William R. Cline provides a comprehensive analysis of the potential for trade liberalization to spur growth and reduce poverty in developing countries. It quantifies the impact on global poverty of industrial-country liberalization, as well as liberalization by the developing countries.Cline finds that the stakes of the poor in trade policy are large. Global free trade would convey long-term economic benefits of about $200 billion annually to developing countries. Half or more of these gains would come from the removal of industrial-country protection against developing-country exports. By removing their trade barriers, industrial countries could convey economic benefits to developing countries worth about twice the amount of their annual development assistance. By helping developing countries grow through trade, moreover, industrial countries could lower costs to consumers for imports and realize other increased economic efficiencies.

The study further estimates that free trade could reduce the number of people in global poverty (earning less than $2 per day) by about 500 million over 15 years. This would cut the world poverty level by an additional 25 percent. Agricultural liberalization alone contributes about half of these gains. Cline judges that the developing countries were right to risk collapse of the Doha Round at the Cancún ministerial meeting in September 2003 by insisting on much deeper liberalization of agriculture than the industrial countries were then willing to offer.

The study calls for a two-track strategy. The first track is deep multilateral liberalization involving phased but complete elimination of protection by industrial countries and deep reduction of protection by at least the middle-income developing countries, albeit on a more gradual schedule. The second track is immediate free entry for imports from "high risk" low-income countries (heavily indebted poor countries, least developed countries, and sub-Saharan Africa), coupled with a 10-year tax holiday for direct investment in these countries. ... Read more

Book Description

McConnell-Brue's Principles of Macroeconomics, 15 is the best-selling textbook and has been teaching students in a clear, unbiased way for 40 years. The 14th edition grew market share because of its clear and careful treatment of principles of macroeconomics concepts, its balanced coverage, and its patient explanations.More students have learned their principles of Macroeconomics from McConnell-Brue than any other text-12 million of them.The 15th edition is a substantial revision that delivers a tighter, modern, Internet-savvy book. ... Read more

Reviews (2)

its good but not enough
this is undoubtly an intresting book,but its main problem is the weaknesses in growth theory.furthermore,i believe it should be improoved in its explanations and the depth of the knowledge it provides.concluding,it is an excellent book for a begginer level,but not an intermidiate one

Excellent and focused!
this book focused on certain economics issue and is excellent for readers with an intermediate knowledge on macroeconomics. however it does not have much graphical explanations ... Read more

Book Description

The giant Nazi leisure and tourism agency, Strength through Joy (KdF)'s low cost cultural events, factory beautification programs, organized sports, and, especially, mass tourism mitigated the tension between the Nazi regime's investment in rearmament and German consumers' desire for a higher standard of living. Shelley Baranowski reveals how Strength through Joy de-emphasized the sacrifices of the present while its programs presented visions of a prosperous future--that would materialize as soon as "living space" was acquired. As an agency open to racially acceptable Germans only, it segregated the regime's victims from the Nazi "racial community." ... Read more

Book Description

Drawing on the expertise of business professionals and academic analysts, this volume explores country trends in the areas of public policy, government debt, taxation changes, political stability, corruption, and foreign investor risk trends. The handbook enhances its data and analysis through graphs, charts and boxed summaries of key points. It helps business professionals better understand the often volatile investment climates in Asia, and prepare them for the challenges ahead. ... Read more

Book Description

This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment of standard theory, clarifies some errors and confusions, and produces some new departures. In particular, the book (i) gives unified treatments of comparative statics and welfare, (ii) sheds new light on the factor-price equalization issue, (iii) treats the modern specific-factor model in parallel with the usual Heckscher-Ohlin one, (iv) analyses the balance of payments in general equilibrium with flexible and fixed prices, (v) studies imperfect competition and intra-industry trade. ... Read more

Reviews (1)

A good book for international trade, but not perfect
The book gets into rather good discusion of basic models, equilibrium and more advanced topics. The math level of the book is at a graduate level and many of the results are done with enough details, discussion and algebra. However, the book suffers from lack of algebra and enough reasoning in the first chapters where it is describing basic models. The notation of the book is sometimes confusing too (I think this problem exists in all of the books about international trade). Besides, the book is rather old and may is missing some topics. A complementarity text for this book is recommended. ... Read more

Book Description

This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics.

The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set. ... Read more

Reviews (1)

a gem
Gollier has written a book that not many others could have written. It is VERY complete, it is full of deep insights, and, for me, it is a pleasure to read. Don't be mistaken: this is a research book, not a textbook. But for those of us doing research in decision theory, general equilibrium, finance, or macroeconomics, it is simply a must. How could you afford NOT to buy it? ... Read more