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

Author(s): John Quiggin

Business & Economics

A masterly introduction to the key ideas behind the successes--and failures--of free-market economics

Since 1946, Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain 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, "When someone preaches 'Economics in one lesson, ' I advise: Go back for the second lesson." In Economics in Two Lessons, John Quiggin teaches both lessons, offering a masterly introduction to the key ideas behind the successes--and failures--of free markets. Brilliantly accessible, this book unlocks the essential issues at the heart of any economic question.

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Product Information

General Fields

  • : 9780691217420
  • : Princeton University Press
  • : Princeton University Press
  • : 0.666
  • : April 2021
  • : 1.5 Centimeters X 13.9 Centimeters X 21.5 Centimeters
  • : books

Special Fields

  • : John Quiggin
  • : Paperback
  • : English
  • : 330.122
  • : 408