Book Description

There has been a recent resurgence of interest in the work of Vilfredo Pareto, one of the founders of modern economics. This book reconstructs the genesis and significance of Pareto’s theory of choice which is Pareto’s greatest contribution to economic science and which was used by John Hicks, among others, to develop microeconomics.

Hicks, Allen, Samuelson and others acknowledged Pareto as the father of the new ordinalist microeconomics but at the same time, portrayed him as confused and contradictory, caught between the old and new paradigms. Luigino Bruni argues that Pareto’s revolution in choice theory is better understood in the context of his own philosophical framework. This framework is revealed by reconstructing his dialogues with economists (Pantaleoni) and philosophers (Vailati and Croce), and by exploring Pareto’s economic theory in the light of his philosophy of science. In addition, Luigino Bruni argues that Pareto’s contribution was different and more complex than Hicks’s ordinalism and Samuelson’s operationalism. From this analysis emerges an image of Pareto as a man whose ideas and work was only partially fulfilled.

This original and sometimes unconventional book will be of great interest to economists, historians of economic thought and philosophers of the social sciences. ... Read more

Reviews (1)

Did Monetary Forces Cause the Great Depression ?
This book was intended to argue against Friedman's monetary description of the Great Depression. However, it is hard to say that Temin responded to Friedman's main contention properly. For, while Friedman maintained that the Depression could have been alleviated had there been some appropriate actions of the Fed (namely, policies related to monetary expansion), Temin's response was composed of two parts which kill each other's clarity; namely, (A) there was no monetary constraint before September 1931: however, (B) we cannot say whether or not macroeconomic policies which were not used then could have been effective if they were actually used. At the same time, Temin's logic which made him say (A) above is based upon a coarse (and probably wrong) interpretation of Friedman's another article, ''Money and Business Cycles''. Nonetheless, I have to be fair to add that this book is one of good materials to examine Friedman's position from various points of views. ... Read more

Book Description

This book is an important collection of papers published over the past ten years in American and European journals. Part 1 explains market structure as a function of sunk costs and market size. Part 2 illustrates the central role of pricing schemes (including parallel pricing, delivered pricing and competition clauses) in sustaining equilibrium outcomes in oligopolistic markets. Parts 3 and 4 give a game-theoretic foundation to competition policy and merger control. Louis Phlips offers a comprehensive introduction to the text in which he very carefully explains the reasoning behind his choice of papers, and provides a superb synthesis of the material. ... Read more

Reviews (4)

Good Study Guide of CLEP Test
I bought this book to study of the CLEP exam. I have never had an economics class nor did I read any other study guides and I passed with a 74 out of 80 (you only need 50 points to pass). So I would say this taught me the fundamentals of economics. It was very dry at first, but then it got better as I started understanding the material better. The last chapter review questions were funny.
Some people overated it a bit, but it really is a good book. Not an extremely easy book, but very understandable.

Suckered into buying another bad book
Well the title of this book suckered me into purchasing it. This book is a joke and the author should be ashamed of himself. There is nothing easy about this, so the title is very misleading and is an obvious ploy to get you to buy the book. It has the same old problems of your dull, dense, jargon filled college text book. There just isn't enough explanations and the few that are in the book assume to much on the readers behalf and you still end up feeling stumped and disappointed that you didn't learn the skills. I wish I could recommend a different book for you guys out there struggling with ecnm 151 but I just haven't found a good book or an easier way to learn it....or should I say a way to learn it at all. If you want my advice, find the easiest teacher around that gives essay questions on tests or this class will hold you up from getting your degree. Also, study in groups if you can even though this is a luxury given the time constraints of college and insanely fast pace of ecnm classes. One final piece of advice is buy your college text book and start going through it a semester before you take the class because if you get a professor with and attitude and a liking to multiple choice questions your going to have a hard time. There is just too much subject matter here to master in a semester. Your professor mastered it because he/she teaches it, so don't feel bad if you get left behind on this subject. This is a typical college text book and class. They expect you to learn something on your own that you don't know in the first place and believe me you'll get no help from the instructors or this text book. The book seriously lacks explanations through out the text and on some of the more difficult and challenging problems. Oh and author if you read this...get an editor...sheesh. This book is just not a quality product.

laughing my way through microeconomics
I would have never believed I would be laughing while learning microeconmics, but I did with this book. It is written with humor to help you grasp the subject. I am taking classes for my MBA and never had an economics class, but finished with a grade of 96 with the help of this book. I would seriously recommend this book to anyone studying microeconomics.

Certainly one of the most user-friendly aides available
Microeconomics: The Easy Way is undoubtedly one of the greatest study aides available in any discipline. Its direct, uncomplicated, yet complete presentation of introductory Microeconomic principles provides anyone interested in learning the subject with all they need. Using this book, and this book alone, I was able to successfully acquire the Microeconomic skills necessary to score a 5 on the College Board's Advanced Placement Exam in Microeconomics, demonstrating both a complete presentation of college level material and a user-friendliness that makes the book appropriate for anyone interested in learning the subject. By emphasizing the vital concepts throughout each chapter, Microeconomics: The Easy Way guarantees that the reader will come away with a basic, if not incredibly thorough, understanding of economics. Furthermore, the review questions presented at the end of each chapter help ensure the retention of key concepts and provide an opportunity to apply newly-! acquired skills. Truly a must-have for anyone interested in learning the subject. Easy to use, complete, and direct...I truly hope Professor Wessels writes a Macroeconomic counterpart!!! ... Read more

Book Description

The history of the microfinance movement in Latin America is brought to life through the lens of the Bolivian experience in MAINSTREAMING MICROFINANCE. Microcredit in Bolivia grew and became successful in only a decade, lifting an enormous segment of the country's population into the financial mainstream in the process. The example of its high-achieving institutions charted a course for the development of the international microfinance field.

Drawing on participant interviews, Elisabeth Rhyne details how Bolivia's special breed of social entrepreneurs found the keys to unlock the huge unmet demand of informal clients. She explores how these social activists shaped the character of the institutions that now dominate Bolivia's microfinance sector, and traces how these institutions proved that lending to microenterprises could become a commerical business. Rhyne investigates the transformation of NGOs into formal financial institutions, led by the creation of BancoSol, and closely examines microfinance under the conditions of commercialization and competition that have altered the dynamics of the new industry. ... Read more

Book Description

The authors—two highly-respected economists and educators—have revised this best-selling book to include more current, modern topics and events while maintaining its hallmark features. This book begins with an introduction to economics, and moves through coverage of the foundations of microeconomics, market imperfections and the role of government, and the world economy. For financial officers and economics professionals making pecuniary decisions and analyses. ... Read more

Book Description

Two prominent economists lead a debate to redistribute wealth. In Recasting Egalitarianism, part of Verso's Real Utopias series, economists Samuel Bowles and Herbert Gintis diagnose the current malaise of the Left as a result of the obsolescence of its traditional economic models. They propose to rejuvenate the egalitarian project through a strategy of asset-based redistribution, drawing in novel ways on markets, competition, state regulation and community governance. In this major work on economic and social policy, the authors address the twin challenges posed by a globally integrated economy and the key economic roles now played by information, motivation, and other intangibles. They propose an egalitarian redistribution of assets - land, capital, and housing - and argue for the beneficial disciplining effects of competition both in markets and among publicly-funded service providers, pointing out that the injustices commonly associated with markets can be avoided if assets are more equally distributed. The lead essay in the book lays out the underlying logic of this proposal in some detail. This is followed by responses by critics and supporters.

Contributors include: Harry Brighouse, Michael Carter, Steve Durlauf, Paula England, David Gordon, Daniel M. Hausman, Karla Hoff, Andrew Levine, Elaine McCrate, Karl Ove Moen, Ugo Pagano, John E. Roomer, Peter Skott, Michael Wallerstein, Erik Olin Wright. ... Read more

Reviews (1)

rigorous exploration of how to end inequality
All the contributors to this volume are seriously committed to solving the persistent riddle of economic inequality in advanced economies as well as preventing the undermining of democracy by the concentration of wealth and power in the hands of a few. To this end, they set out bold proposals which transcend the pitfalls of both corporate capitalism and the now defunct, East European socialisms. Issues such as property rights, housing, school choice, political associations, economic efficiency and the benefits of asset redistribution are all discussed with rigor and clarity by the several contributors. All the topics are excellent counterblasts to the current aopologists for Conservative policies in the era of 'globalization'. This one is a must for all those concerned about the future of economic justice and the evolution of democratic societies. ... Read more

Book Description

In 1937, Ronald H. Coase published "The Nature of the Firm," a classic paper that raised fundamental questions about the concept of the firm in economic theory. Coase proposed that the comparative costs of organizing transactions through markets rather than within firms are the primary determinants of the size and scope of firms. Coase won the 1991 Nobel Prize in Economics for this work. This volume derives from a conference held in 1987 to commemorate the fiftieth anniversary of the publication of Coase's classic article. The first chapter affords an overview of the volume. It is followed by a republication of the 1937 article, and by the three lectures Coase presented at the conference. These lectures provide a lively and informative history of the origins and development of his thought. Subsequent chapters explore a wide-range of theoretical and empirical issues that have arisen in the transaction cost economic tradition. They illustrate the power of the transaction cost approach to enhance understanding not only of business firms, but of problems of economic organization generally. In addition to Coase's work, contributors include Sherwin Rosen, Paul Joskow, Oliver Hart, Harold Demsetz, Scott Masten, Benjamin Klein, as well as the volume's editors, Oliver E. Williamson, and Sidney G. Winter. The Nature of the Firm includes Coase's acceptance speech for his Nobel Prize in Economics. ... Read more

Reviews (2)

Excellent Starting Point
This book serves as an excellent introduction to the transaction cost motivated theories of the firm. The whole field started with the 1937 paper by Coase, which one can find here. Three other papers by Coase give a good background on how he came to write that paper and what its implications and influences are. His Nobel lecture is also included. They all make a nice reading and clear up some misunderstandings about Coase's work. Coase is an excellent writer.

The other papers are very good too. I especially liked the one by Harold Demsetz. It points out that there are some important shortcomings to the transactionialist view and outlines a alternative theory of the firm.

Almost all papers can be read without much knowledge about economics and without math, so anyone with an interest in the topic should take a look.

Readings on the "Firm"
The papers imprinted there include Coase's "The Nature of the Firm" and his Nobel Lecture as well. The works of O. Williamson, O. Hart, S. Rosen, S. Winter, etc on the nature of the firm are also there.

One thing worth to note is that three of the papers are the lectures given by Coase in the 1987 conference (which is due to the 50th anniversery of the publication of his "The Nature of the Firm") are also included. The sub-title of this book speaks for itself.

But I don't know why Cheung's "The Contractual Nature of the Firm" is omitted. ... Read more

Book Description

For 50 years, the standard-bearer for elementary economics courses, this revision is a clear and modern introduction to microeconomic principles. Bill Nordhaus is now the primary author of this classic text. ... Read more

Reviews (1)

Excellent, Easy to Read, and Thorough
This is the essential starting point for anyone interested in learning economics. The authors start at the very beginning and work through every aspect of microeconomics by developing a very clear model, and punctuating it with real world examples and historical anecdotes. ... Read more

Book Description

Topics include the fundamentals of supply and demand, consumer theory, production, perfect competition, the monopoly, and factor prices. ... Read more

Book Description

This textbook is carefully designed to provide the reader with a good understanding of the fundamental concepts of economics. The writing is lucid and at the student's level. There are twenty-nine "one-concept" chapters. Each chapter is suitably short, highlighting one economic principle. The student can study one concept and be reinforced by the learning process before proceeding to another chapter. Self review exercises conclude each chapter. The one-concept chapters also provide organizational flexibility for the instructor. The text is well integrated to show the relationship among the basic concepts and to offer a comprehensive overview of economics. There are six modules: The Economic Problem; Price Determination; Behind the Supply Curve; Level of Income; Money; and Trade. ... Read more

Book Description

In industrial countries there is a strong interest in the international comparison of business data regarding productivity efficiency and competitiveness. This volume presents methods for the statistical analysis of micro- and macrodata of firms and for an international comparison of the aggregates. Case studies referring to specific countries play an important role for the development of economic hypotheses that should be tested at the international level. ... Read more

Book Description

A cornerstone of HarcourtÆs publishing program, Microeconomics: Private and Public Choice is considered to be the best existing principles of economics textbook emphasizing free markets. The strengths of this text are its clarity, emphasis on the economic way of thinking, and its application to the world around us.Microeconomics: Private and Public Choice has an amazing approach to introducing students to a moderate amount of economic data while applying the concept to a real-world story. ... Read more

Book Description

Reviews (1)

Math for Econ
This book is more readable than his "Mathematical Economics" since it is not based on an axiomatic approach in dealing with the problems.

This book attempts to introduce some of the mathematical tools that are relevant to economics (espically micro). Proofs of the theorems are mostly omitted. There is a chapter introducing or reviewing some basic mathematics. Main topics are non-linear programming, uncertainty, differential equation and optimal control theory.

The treatment on non-linear programming is excellant. It is a good book for graduate students major in economics. But it requires some basic knowledge in mathematics. ... Read more

Book Description

This book analyzes how a large but finite number of agents interact, and what sorts of macroeconomic statistical regularities or patterns may evolve from these interactions. By keeping the number of agents finite, the book examines situations such as fluctuations about equilibria, multiple equilibria and asymmetrical cycles of models which are caused by model states stochastically moving from one basin of attraction to another.All of these are not tractable using traditional deterministic modeling approaches. The book also discusses how agents may form clusters with stationary distributions of cluster sizes.These have important applications in analyzing volatilities of asset returns. ... Read more

Amazon.com

Rick Kash believes supply-side economics has reached the end of its effectiveness, and in The New Law of Demand and Supply he argues for an inverse approach--one he contends is already employed to some degree by many of the world's most successful companies. Kash, CEO of The Cambridge Group consulting firm, uses some of these organizations--such as Gatorade and Sears Credit--to illustrate the concept of demand strategy he proposes to meet these new-world needs. Based on "thoroughly understanding existing and future demand and only then creating the supply to satisfy it," the approach is fully described in chapters devoted to each of its six phases. "Analyze the demand forces and industry factors impacting your business," for example, is a logically presented first step that calls for a wide focus on external elements like demographics, competitors, societal trends, the economy, legislation, and technology. Next comes "Select your most profitable demand segments," advocating a careful search for areas that match your capabilities but can be differentiated from the offerings of others. Subsequent steps (develop a "demand value proposition" that elevates you above the crowd, identify ways to realize this agenda, allocate necessary resources, and execute) are likewise explained thoroughly. The result is an intriguing platform with planks that are potentially applicable in a multitude of situations. --Howard Rothman ... Read more

Reviews (16)

The book every marketer needs to drive strategy
The central argument Mr Kash makes is dead on: After decades of building businesses based on what a company can make, companies have to build their businesses on what consumers demand. A simple principle but, as the author makes clear, one that is hard to execute as it is so contrary to how most business people have been trained to plan. I've worked on a project once with the Cambridge Group, Mr Kash's firm, and this book summarizes the philosophy that has made this firm one of the best marketing strategy firms in the country: Get past the old thinking of selling what you think the consumer will buy. You have to do the hard work of analyzing the consumer market from understanding their true needs and then building your business to deliver on those needs.

A must read for every marketer who wants to lead their businesses overall strategy.

Kash's winning ways
Here is a book that in only 233 pages, plus 10 more pages of helpful notes, turns a basic law of economics on its head--to the benefit of any business manager who wants what the book promises: "faster growth and higher profits."

The beauty of the book is that it is well-written, easy to grasp, and makes use of the most business-basic way to inform: the case history.

Author Rick Kash, founder and CEO of The Cambridge Group, the Chicago-based business consulting firm, makes use of case histories that are like nails that drive home the points in his persuasive arguments.

Best of all, Kash's case histories are given from an insider point of view, because his firm was the consultant for most of the companies cited.

They are a blue-chip roster of American business: Merrill Lynch, AT&T,Citibank, Levi Strauss & Co., R.R. Donnelly, McDonald's Corporation, PepsiCo, Inc., DuPont, Pharmacia Upjohn, the Quaker Oats Company, and Sears, Roebuck and Co.

The case histories are dazzling in their cumulative effect to document what Kash calls his "Six Principles" of demand strategy.

This is a business book that reads better than a "whodunit." It's a "howtheydidit," using the six principles Mr. Kash espouses. Well done, Mr. Kash.

From the makers of Duh Magazine.
Okay, this should not be revolutionary to anyone. Companies should concentrate on demand and customers? Uh, thanks. Try to differentiate your product to get higher returns. Uh, thanks again. Proper resource allocation is essential. No, really?

Kash makes some good suggestions on how companies should develop, market, research and produce in order to meet demand, instead of concentrating all efforts into the supply side. These suggestions, which are very sound, are just plain common sense. It's not revolutionary in any terms. He develops six principles on which to do this and devotes chapters to it, ranging from researching to resource allocation. I would provide the list here, but then that would mean Kash's book would be entirely useless.

What's more insulting than the "revolutionary" in the title are the complements on the back of the book. Such people as the head of McDonalds, EMC, and Gillete have gave great reviews for this book. Of course, if you read the book, you'll see that Kash has actually praised those executives countless times. If someone wrote a book about me, and praised me - heck, I'd consider it a literary masterpiece.

This book just basically is a list of principles wrapped around tons of success stories and a complete lack of humility. Avoid it.

Revolutionary concept? Forget it.
What a cheat! Get a catchy title for your book so that people are attracted and your book sales increase and then fill it with all the basic knowledge of economics, marketing and what not and call it a revolution. I just wonder what kind of companies get advice from writers like those? If you are slightly familiar with basic (very basic) marketing, economics and strategy, then I can assure you that you will find nothing that you did not know already.

What is this? Create paper castles and tear them down and claim you have developed a revolutionary methodology. Pathethic! The guy attacks all economists by taking Samuelson's introduction to his economics textbook whereby he says that economics is about WHAT to produce, HOW to produce and FOR WHOM to produce. Then, Eureka. Mr Kash suddenly discovers that the sequence is wrong! and that you should not start with the question of WHAT but instead you should start with the question of FOR WHOM. And he calls this a "revolutionary new demand theory since Adam Smith". What a discovery! Nobody ever thought of this before! The disciplines of economics and strategy are grateful to you Mr. Kash!

Dear Mr. Kash, economics is not about Prof. Samelson's introductory chapter to his textbook. There are many more good economists like Samuelson who have already and in a much more refined way elaborated on the concept of demand. Also, there are many very good strategists who not only tackled the issues of demand creation and micro-segmentation but detailed out workable methodologies which are, unlike yours, very usable. See, for example, Adrian Slywotzky's various books, also Don Peppers' 1t01 concept, or for that matter any Strategy 101 or good Marketing 101 book.

This book is just bla bla. No serious scholar can take this piece of scrabbling seriously. So, avoid it an go read something worth spending your time on.

Demand Strategy From Beginning to End
Rick Kash's well written book not only walks you through the basics of demand strategy, but gives terrific case studies that show how demand strategy prinicples have been used by many successful companies. Overall this is an excellent book that is easy to read. I highly recommend it. ... Read more

Reviews (3)

Excellent!
An excellent introduction to price theory. Clear explaination and simple mathematics. But it will be even better if it contains a list of suggested further readings.

The Only Econ-Text You Will Ever Use
After reading other various economic texts, introductory, intermediate, and graduate texts, I have found this one to be the absolute best. It completely strips away the sometimes unilluminating world of calculus and presents economics as it should be presented, as an applied science. This is truly a good read with many examples that reinforce the core material.

An Excellent Text of Tnter-Micro
Although the topics covered may not be as board as Varian's Intermediate Micro, it provides a deeper understanding on the meaning of economic theorizing. There are many applications in this book. The most beautiful part of this book is the excerises, which made readers handle better the theories they have learnt. ... Read more

Book Description

This highly innovative and original book proposes evolutionary microeconomics as a synthesis of the collective schools of heterodox economic thought with complex systems theory and graph theory.

The book charts a research program for evolutionary economics that encompasses the theory of dynamic efficiency and emergence in markets, a computational model of the learning and interacting agent, a competence based theory of the firm and the household, and, via a theory of expectations and plans, an agent-based foundation to macroeconomics.

Principally a work of meta-theory, The New Evolutionary Microeconomics argues for a radical refocus of microeconomic research toward the evolutionary nature of institutions, preferences, technology and knowledge.

This challenging new book should prove timely and important for evolutionary and computational economists as well as those in the fields of managerial economics, business studies and marketing. ... Read more

Book Description

Most of the current books on stochastic control theory are written for students in mathematics or finance. This introduction is designed, however, for those interested in the relevance and applications of the theory's mathematical principles to economics. Therefore, mathematical methods are discussed intuitively and illustrated with economic examples. More importantly, mathematical concepts are introduced in language and terminology familiar to graduate students in economics. ... Read more