Macroeconomics - 1st Edition - ISBN: 9780123110718, 9781483218045

Macroeconomics

1st Edition

Private and Public Choice

Authors: James D Gwartney Richard Stroup
eBook ISBN: 9781483218045
Imprint: Academic Press
Published Date: 1st January 1983
Page Count: 522
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Description

Macroeconomics: Private and Public Choice discusses the principle of macroeconomics, particularly government expenditure, taxation, public choice theory, and labor markets. The book also covers aggregate supply, fiscal policy, inflation, unemployment, traditional Keynesian theory, low productivity, rapid inflation. The text explains international economics and comparative systems such as the export-import link, export taxes, and foreign finance. It analyzes the existence of trade barriers as being due to domestic protectionism policies, special interest nature of trade restrictions, and economic illiteracy. The book examines the economics of government failure, namely, the collective decision-making process as being both beneficial and limited of public sector economic action. Among the reasons cited for government failure are voter ignorance, inefficient public policy, existence of special interests, imprecise knowledge of consumer preferences, as well as government shortsightedness. The book also examines why government intervention in some activities can be beneficial, for example, weak market competition or monopoly, uninformed consumers, and when conditions of external benefits can be achieved. Economists, sociologists, professors in economics, or policy makers involved in economic and rural development will find the text valuable.

Details

No. of pages:
522
Language:
English
Copyright:
© Academic Press 1983
Published:
Imprint:
Academic Press
eBook ISBN:
9781483218045

About the Author

James D Gwartney

Richard Stroup

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