mega-menu

Browse by Institution Type

Browse by Product Type

Products

Support

footer-social-menu-component

single-column

header-component

secondary-storefront-menu

secondary-account-menu

Profile

Orders

Wish List

Fast Order Entry

My Account

footer-social-menu

Sign Up for Emails

CONNECT WITH GALE

Stay up-to-date with the latest Gale news, exclusive offers, and more.

facebook

linkedin

instagram

youtube

SOCIAL ICONS

products

Marketing materials, training documents, discovery services

cengage:card

FIND YOUR SALES REPRESENTATIVE

cengage:column

Get marketing materials, training documents, discovery services.

PRODUCT SUPPORT

CUSTOMER SUPPORT

Report technical issues, errors, check system status

TECHNICAL SUPPORT

Manage product preferences, generate usage reports, simplify administrative tasks.

ADMIN TOOLS

support

footer-legal-menu-component

%1 products have been added to your cart but %2 have been backordered and will be fulfilled when stock is available

Product on backorder

Current quantity limit is [maxProductQuantity], please, navigate to the cart page and change quantity of product

You will be able to resubmit promo in ${countdown} seconds. test

Please note that the taxes displayed on our website are estimated and subject to adjustment. The actual tax charges will be determined and settled during the final invoicing of your order

product-detail-component

cengage:galethorndikeseo

Account Information

bundle-connector

International

North America

China

Japan

Latin America

Brazil

Region

Set your region:

container

secondary-primary-menu

footer-menu

Academic Institutions

K-12

Public Libraries

Government and Special Libraries

Statewide Programs

Institutions

Databases

Primary Sources

Digital Humanities Tools

eLearning

Schools/K-12 Curriculum

Books

Large Print Books by Thorndike Press

Find Your Rep

Product Support

Technical Support

Customer Support

Admin Tools

Accessibility Policy

About Us

Blogs

Press Center

Events

News

Careers

Partnerships

Contact Us

Our Company

config

Would you like to go to the Gale {{RECOMMENDED_COUNTRY}} site instead?

It looks like you're visiting from {{DETECTED_COUNTRY}}.

main

zone2

header

gale-footer

footer-menu-component

FIND YOUR REP

support-order-2

zone3

footer-legal-menu

Terms of use

Privacy

footer

You may already have access to Gale content through your institution.

STUDENTS AND RESEARCHERS

support-order-1

Request a Trial

zone1

ECNMCS IN TWO LESSONS: WHY MARKETS WORK WELL FAIL BADLY

Economics

Business & Economics

Gt Product Group

Binding Format

Marketing Imprint Name

B2B GT

CL Carton Count

Imprint Name

B2B & B2C

<P>This book offers a masterful introduction to the key ideas behind the successes and failures of free-market economics. Since 1946, Henry Hazlitt’s bestselling <EM>Economics in One Lesson</EM> has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But that tells only half the story. It explains 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, <Q>When someone preaches ‘Economics in one lesson,’ I advise: Go back for the second lesson.</Q> In this book, the author teaches both lessons, offering a masterful introduction to the key ideas behind the successes and failures of free markets, and explains why market prices often fail to reflect the full cost of our choices to society as a whole. Brilliantly accessible, this title unlocks the essential issues at the heart of any economic question.</P>

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

College Freshman

College Senior

Economics in Two Lessons

Duration

Duration Unit Of Measure

Transaction Type

Front Cover.
Half Title Page.
Title Page.
Copyright Page.
Contents.
Acknowledgments.
Introduction.
The Lesson.
1: Market Prices and Opportunity Costs.
2: Markets, Opportunity Cost, and Equilibrium.
3: Time, Information, and Uncertainty.
Applications.
4: How Opportunity Cost Works in Markets.
5: Lesson One and Economic Policy.
6: The Opportunity Cost of Destruction.
Social Opportunity Costs.
7: Property Rights and Income Distribution.
8: Unemployment.
9: Monopoly and Market Failure.
10: Market Failure: Externalities and Pollution.
11: Market Failure: Information, Uncertainty, and Financial Markets.
Public Policy.
12: Income Distribution: Predistribution.
13: Income Distribution: Redistribution.
14: Policy for Full Employment.
15: Monopoly and the Mixed Economy.
16: Environmental Policy.
Conclusion.
Bibliography.
Index.

Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly.css-1p8rvzy{position:absolute;padding-left:8px;}

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