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Economics in two Lessons: Why Markets Work so Well, and why They can Fail so Badly (in English)
John Quiggin
(Author)
·
Princeton University Press
· Paperback
Economics in two Lessons: Why Markets Work so Well, and why They can Fail so Badly (in English) - Quiggin, John
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Synopsis "Economics in two Lessons: Why Markets Work so Well, and why They can Fail so Badly (in English)"
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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The book is written in English.
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