Economics for the Curious : Inside the Minds of 12 Nobel Laureates

Alfred Marshall, the founder of modern economics, once described economics as 'the study of mankind in the ordinary business of earning a living'. In Economics for the Curious, 12 Nobel Laureates show that 'the ordinary business of earning a living' covers a wide range of activities, as they take readers on an engaging tour of some of the everyday issues that can be explored using basic economic principles. Written in the plainest possible language, Nobel Laureates including Paul R. Krugman, Eric S. Maskin, Finn E. Kydland and Vernon L. Smith confront some of the key issues challenging society today - challenges that claim attnetion in any phase of the business cycle. The range of topics include how economic tools can be used to rebuild nations in the aftermath of a war; financing retirement as longevity increases; the sustainable use of natural resources; and what governments should really be doing to boost the economy. Economics for the Curious is an accessible but informative display of the kinds of questions economics can illuminate. It will appeal to anyone who has an interest in economics and the world around them, and we hope it will encourage further interest and study in the topic from readers everywhere. -- from dust jacket Annotation Alfred Marshall, the founder of modern economics, once described economics as 'the study of mankind in the ordinary business of earning a living'. In Economics for the Curious, 12 Nobel Laureates show that 'the ordinary business of earning a living' covers a wide range of activities, as they take readers on an engaging tour of some of the everyday issues that can be explored using basic economic principles. Written in the plainest possible language, Nobel Laureates including Paul Krugman, Eric Maskin, Finn E. Kydland and Vernon Smith confront some of the key issues challenging society today â€" challenges that claim attention in any phase of the business cycle. The range of topics includes how economic tools can be used to rebuild nations in the aftermath of a war; financing retirement as longevity increases; the sustainable use of natural resources and what governments should really be doing to boost the economy. Economics for the Curious is an accessible but informative display of the kinds of questions economics can illuminate. It will appeal to anyone who has an interest in economics and the world around them, and we hope it will encourage further interest and study in the topic from readers everywhere. Front Matter....Pages i-ix Introduction....Pages 1-5 Depressions are Different....Pages 7-18 Rethinking Economics: A Classical Perspective....Pages 19-32 Employment and Unemployment....Pages 33-42 Unemployment During and After the Great Recession....Pages 43-59 Long-Term Trends and Structural Changes in the Global Economy....Pages 61-76 On Policy Consistency....Pages 77-95 Natural Resources and Sustainability....Pages 97-108 Research Studies Approaching Cooperative Games with New Methods....Pages 109-122 Interdisciplinary Social Science: The Transaction Cost Economics Project....Pages 123-140 Financing Retirement....Pages 141-158 How Should We Elect Our Leaders?....Pages 159-169 Standards for State-Building Interventions....Pages 171-188 Back Matter....Pages 189-195