Essential Readings in Economics

Front Matter....Pages i-x
Introduction....Pages 1-16
Front Matter....Pages 17-17
The Law of Consumer’s Demand....Pages 19-33
Front Matter....Pages 35-35
The Nature of the Firm....Pages 37-54
The Concept of Monopoly and the Measurement of Monopoly Power....Pages 55-76
Monopoly and Resource Allocation....Pages 77-90
Strategic Competition among the Few — Some Recent Developments in the Economics of Industry....Pages 91-125
Front Matter....Pages 127-127
The Anatomy of Market Failure....Pages 129-158
Diagrammatic Exposition of a Theory of Public Expenditure....Pages 159-171
Front Matter....Pages 173-173
The Market for “Lemons”: Quality Uncertainty and the Market Mechanism....Pages 175-188
Front Matter....Pages 189-189
How Important is it to Defeat Inflation? The Evidence....Pages 191-214
The Role of Monetary Policy....Pages 215-231
Inflation and Unemployment....Pages 232-254
Front Matter....Pages 255-255
Unemployment Policy....Pages 257-263
On Theories of Unemployment....Pages 264-279
Efficiency Wage Models of Unemployment....Pages 280-289
Front Matter....Pages 291-291
The State of Long-Term Expectation....Pages 293-305
Understanding Business Cycles....Pages 306-327
Real Business Cycles: A New Keynesian Perspective....Pages 328-341
Front Matter....Pages 343-343
A Monetary and Fiscal Framework for Economic Stability....Pages 345-365
Rational Expectations and the Theory of Economic Policy....Pages 366-382
Front Matter....Pages 343-343
The Monetarist Controversy, or, Should we Forsake Stabilization Policies?....Pages 383-408
Back Matter....Pages 409-416