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" How markets work : "
Robert E. Prasch.
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BL
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| Record Number
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692975
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b515164
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| Main Entry
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Prasch, Robert E.,1958-
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| Title & Author
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How markets work : : supply, demand and the 'real world' /\ Robert E. Prasch.
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| Publication Statement
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Cheltenham, UK ;Northampton, Mass. :: Edward Elgar,, [2008]
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, c2008
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| Page. NO
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ix, 173 pages :: illustrations ;; 23 cm
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| ISBN
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1847206131 (hbk.)
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: 184720614X (pbk.)
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: 9781847206138 (hbk.)
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: 9781847206145 (pbk.)
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| Bibliographies/Indexes
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Includes bibliographical references (p. 153-165) and index.
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| Contents
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pt. 1.; The theory of markets -- Property, contract, and the theory of exchange -- Commodity markets: the economics of a "spot" contract -- pt. 2.; Market processes when information matters -- Credit markets: the economics of a "relational" contract -- Asset markets: market dynamics when expectations are a consideration -- pt. 3.; Labor markets -- Labor market dynamics when needs are a consideration -- Labor market dynamics when motivation is a consideration -- pt. 4.; Social, ethical and political considerations -- g; The economics of discrimination: the "Chicago School" approach -- g; The economics of discrimination: the "structural" approach -- Values and prices: reintroducing ethical considerations into economics -- Conclusion: Some reflections on economic policy.
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| Abstract
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"How Markets Work presents a new and refreshing introduction to elementary economics. The venerable theory of supply and demand is reconstituted upon plausible and defensible assumptions concerning human nature, the law, and the facts of everyday life - in short - the Real World'. The message is that markets differ in ways that matter. Starting with a brief survey of property and contract law, the lectures develop several deal types' of markets - such as credit, assets, and labor - while illuminating the similarities and differences among them. Care has been taken to ensure that the reformulations presented are accessible to students and compatible with a variety of non-mainstream traditions in economic thought." "Topics covered include the theory of markets, labor markets, market processes when influenced by the availability of information, and social, ethical and political considerations. Also discussed are commodity, credit and asset markets, contracts, dynamics of labor markets, and the economics of discrimination." "This book is intended as an essential supplemental text for undergraduate economics students, particularly in heterodox programs, as well as for those in companion liberal arts and sociology fields looking for an accessible introduction to essential economic theory."--Jacket.
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| Subject
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Capitalism.
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Free enterprise.
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Markets.
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