Audio Books →Economics in Two Lessons Why Markets Work so Well, and Why They Can Fail so Badly

Free Download Economics in Two Lessons: Why Markets Work so Well, and Why They Can Fail so Badly by John Quiggin, Gildart Jackson, Blackstone Audio, Inc.
English | 2019 | ISBN: B07QHYXNGK | Duration: 11:01:32 | MP3@64 kbps | 298 Mb
A masterful introduction to the key ideas behind the successes - and failures - of free-market economics
Since 1946, Henry Hazlitt's best-selling 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 masterful introduction to the key ideas behind the successes - and failures - of free markets.
Economics in Two Lessons explains why market prices often fail to reflect the full cost of our choices to society as a whole. For example, every time we drive a car, fly in a plane, or flick a light switch, we contribute to global warming. But, in the absence of a price on carbon emissions, the costs of our actions are borne by everyone else. In such cases, government action is needed to achieve better outcomes.