Cover image for Economic issues today : alternative approaches
Title:
Economic issues today : alternative approaches
Author:
Carson, Robert Barry, 1934-
Personal Author:
Edition:
Sixth edition.
Publication Information:
Armonk, NY : M. E. Sharpe, [1999]

©1999
Physical Description:
xii, 358 pages : illustrations ; 24 cm
Language:
English
Subject Term:
ISBN:
9781563246319

9781563246326
Format :
Book

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Summary

Summary

Highly accessible and relevant in today's economic environment, this acclaimed resource provides a unique approach to understanding what the practice of economics is all about. It analyzes current economic issues from three different ideological perspectives: Conservative, Liberal, and Radical.


Reviews 1

Choice Review

Carson and Thomas (both of SUNY, Oneonta) and Hecht (Ramapo College) assume that ideological predispositions color an individual's understanding of economic problems. They divide political propensities into conservative, liberal, and radical. Conservative ideas are identified with Adam Smith, liberal ones with John Maynard Keynes, and radical thought with Karl Marx. The authors use this framework to examine 14 important economic issues from conservative, liberal, and radical perspectives. Issues discussed include environmental protection, welfare reform, a fair tax system, economic growth, balancing the federal budget, unemployment, inflation, and finding the US's place in the new world order. In the section on fair taxation, for example, they examine progressive consumption taxes and progressive income taxes, pointing out that an inclusive, progressive tax system can be consistent with the core goals of all three groups. Examining economic issues from three points of view can be exciting for students, many of whom have well-formed political attitudes but little experience in economic analysis. Economics was once called political economy; Carson, Thomas, and Hecht reunite politics and economics assuming that political attitudes are fixed and economic policy is flexible. And they do so with surprising success. Recommended for general readers and lower-division undergraduate students. R. T. Averitt Smith College


Table of Contents

List of Figures and Tablesp. vii
Prefacep. ix
Part 1 Introductionp. 1
Alternative Economic Philosophies: A Survey of Conservative, Liberal, and Radical Critiquesp. 3
Part 2 Problems in the Marketplacep. 33
Issue 1 Responding to Market Outcomes: Competition or Protection for American Agriculture?p. 35
Issue 2 Consumer Welfare: Is the Consumer Sovereign or Exploited?p. 56
Issue 3 Dealing with Externalities: How Can We Save the Environment?p. 73
Issue 4 Imperfect Competition: What Should Our Policy Toward Big Business Be?p. 90
Issue 5 Economic Regulation: Has Deregulation Worked?p. 110
Issue 6 Income Distribution: How Successful Will Our Experiment with Welfare Reform Be?p. 131
Issue 7 Financing Government: What Is a Fair System of Taxation?p. 157
Part 3 Problems of Aggregate Economic Policyp. 179
Issue 8 Macroeconomic Instability: Are We Depression-Proof?p. 181
Issue 9 Economic Growth and Stability: An Active or a Passive Policy Approach?p. 204
Issue 10 Balancing the Federal Budget: A Strengthening or a Weakening of the National Economy?p. 231
Issue 11 Unemployment: Is Joblessness an Overrated Problem?p. 253
Issue 12 Inflation: How Can We Best Maintain Price Stability?p. 273
Issue 13 International Economics: Where Does America Fit into the New World Order?p. 295
Issue 14 The Market Versus Planning and Controls: Which Strategy Works Better?p. 324
Part 4 Conclusionp. 347
Final Thoughts and Suggested Readingsp. 347
Indexp. 351