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

John Quiggin



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Princeton University Pres
29 March 2019
Economics & Business; Economics; Economic theory & philosophy; Macroeconomics; Microeconomics
A masterful 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 s
By:   John Quiggin
Imprint:   Princeton University Pres
Country of Publication:   United States
Dimensions:   Height: 216mm,  Width: 140mm, 
ISBN:   9780691154947
ISBN 10:   0691154945
Pages:   408
Publication Date:   29 March 2019
Audience:   College/higher education ,  Professional and scholarly ,  Primary ,  Undergraduate
Format:   Paperback
Publisher's Status:   Active

John Quiggin is the President's Senior Fellow in Economics at the University of Queensland in Brisbane, Australia. His previous book, Zombie Economics: How Dead Ideas Still Walk among Us (Princeton), has been translated into eight languages. He has written for the New York Times and the Economist, among other publications, and is a frequent blogger for Crooked Timber and on his own website: Twitter @JohnQuiggin

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

With a confident style, John Quiggin weaves together clear theory and fascinating stories to explain why markets work and why they fail. He makes the case that one-lesson economics, based on the idea that market prices are always right, is as useful as a one-wheeled bicycle. If you want to understand what free-market economics gets right, and when governments need to step in, this is the book for you. My two lessons: buy it, and read it. --Andrew Leigh, member of the Parliament of Australia With apologies to Isaiah Berlin, Quiggin is a foxy hedgehog: He knows two big things, and these twin lessons--about the virtues and limits of markets--sustain a pioneering, persuasive, and even passionate case for democracy and the mixed economy. Make room for two lessons in your mind, and on your bookshelf. --Jacob S. Hacker, coauthor of American Amnesia: How the War on Government Led Us to Forget What Made America Prosper This popular, accessible introduction to economics is organized around an idea that is brilliantly simple yet encompassing. --Suresh Naidu, Columbia University A brilliant book. People often try to write for readers who know no economics, but they rarely succeed. This book is an exception. --Roger Backhouse, author of The Ordinary Business of Life: A History of Economics from the Ancient World to the Twenty-First Century

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