Ebook Economics: An Introduction to Traditional and Progressive Views, by Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, B
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Economics: An Introduction to Traditional and Progressive Views, by Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, B
Ebook Economics: An Introduction to Traditional and Progressive Views, by Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, B
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This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. Revised, expanded, and updated for this new edition, the text puts the study of microeconomics, macroeconomics, and globalization in their historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This allows students to see economics as a way of understanding the world - as a lens for social analysis - rather than, as immutable truth or ideal to which the world should be molded.This completely revised edition incorporates new chapters on microeconomics and macroeconomics, as well as more graphs to enhance the theoretical presentations. Unlike the previous editions, it includes many pedagogical tools to encourage student participation and learning. Each of the 56 chapters opens with Learning Objectives, and key terms appear in boldface within the text and are listed at the end of each chapter. Other end-of-chapter material includes Summary of Major Points, Analytical Questions, and References. An online Instructor's Manual is available to professors who adopt the text.
- Sales Rank: #925763 in Books
- Brand: Brand: M.E.Sharpe
- Published on: 2008-04-30
- Original language: English
- Number of items: 1
- Dimensions: 10.00" h x 7.00" w x 1.50" l, 2.82 pounds
- Binding: Paperback
- 760 pages
- Used Book in Good Condition
Most helpful customer reviews
4 of 4 people found the following review helpful.
Good intro to different perspectives but too long for a semester course
By A reader
This book is one of the few textbook that does not make students swallow blindly that economics is just about scarcity, choice, and market efficiency. It dares to go into the importance of class conflict, the role of institutions in shaping economic systems, the importance of knowing history of economic thought, and the limits of capitalism. Economics is not just about markets or not even centered around markets.
The book shows that economic systems are embedded in a socio-political system. For example, scarcity (what is usually referred as unlimited wants/preferences coexisting with limited resources) is not natural: people do not have naturally unlimited wants. It is institutionalized by capitalism via consumerism that always creates new wants in order to create new markets and so new profit opportunities. Moreover, capitalism economies usually operate below full employment (they are not on the production possibility curve) so one can have both more butter and guns at the same time: income effects dominate substitution effects (marginal rate of substitution go in the background).
Capitalism requires constant growth of economic activity to survive and the end result may be that economic growth becomes both the means and the end of economic activity (especially if capitalists' interest prevails in the political sphere). While economic growth has been highly beneficial to the well being of human kind, this hunger for growth also comes with its own problems. Not only economic growth for the sake of economic growth is bad economics but economic growth creates problems. These problems are dealt with by most textbooks under the terms "externalities" or "inefficiencies", the book shows that this is a narrow conceptions of the problems that is a market-centered conception of economics.
Once one accepts this broader view of economics, the main issue with this book is that it covers way too much material for a semester course of principles of economics (micro/macro combo). It also goes beyond the current traditional format of teaching principles along the line of macro/micro and delves into political economy, comparative economic systems, history of economic thoughts and US economic history. I see this as strength but this format may be hard to fit into the institutional needs of a department (unless the entire department is on board). A principles of macro course (which I used to teach) would require additional material because the macro section is weak.
5 of 8 people found the following review helpful.
An important text needed more than ever
By Dom
This book is, and has been over many years, an important text for students and others interested in a broader and more relevant introduction to economics. In particular, it provides a critical analysis of the orthodox economic theory that still dominates and obscures other views within our education systems.
In a world where the weaknesses in current economic systems and policy are becoming more stark -and have a serious detrimental effect on the lives of large numbers of people- it is important that this authoritative and accessible introduction is available.
3 of 6 people found the following review helpful.
Way to ruin a classic!
By Mark J.
Wow, what a way to ruin a classic text! I surmised when the subtitle changed from "An Introduction to Traditional and Radical Views" to "An Introduction to Traditional and Progressive Views", we were in for limp biscuit. I wasn't wrong. With the obvious intent not to offend modern (neoliberal) economic sensibilties, the authors have watered down the "progressive" view beyond serious consideration. Gone is the semblence of some sort of cogent argument for viable alternatives. While socialism as we know/ knew it is limping along, concepts like public planning and increased public ownership/ control are long overdue for a resurgence, based on a bunch of cogent economic grounds (many of which previous editions at least touched on). The authors have, unwittingly I suppose, come out with a book that by the sheer impotence with which it presents alternative economic position(s) has given renewed vigor to the neoliberal's shop-worn slogan, "There IS NO alternative (to capitalism)!". I don't know who Nesiba, O'Hara and Wiens-Tuers are, but I suspect they are "middle of the roaders". If so, their influence certainly shows. Anyway, while the introduction to neoclassical microeconomics remains a good start, you have to slog through TONS of (to my mind) irrelevant historical material to get there - making this totally unsuitable as any kind of alternative economics text. While cogent criticisms of the neoclassical approach remain, once again, alternatives are not explored with the vigor they deserve. Fortunately, there's still some used copies of older editions out there, if anyone wants to re-live past glory.
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