"It is widely assumed by economists that growth- an increase in GDP, or the value of our output and expenditure- is essential to thriving, developed economies. The more we produce and consume, the better our living standards, public resources, and employment options. While few would deny that growth is an important measure of economic success, many see it as just one window to a healthy economy. As co-author of a leading undergrad textbook, Dietrich...

It has long been recognized that an improved standard of living results from advances in technology, not from the accumulation of capital. It has also become clear that what truly separates developed from less-developed countries is not just a gap in resources or output but a gap in knowledge. In fact, the pace at which developing countries grow is largely a function of the pace at which they close that gap. Thus, to understand how countries grow...

"During the Great Depression, which I'm old enough to remember, it was bad-much worse subjectively than today. But there was a sense that we'll get out of this somehow, an expectation that things were going to get better . . ." -from Requiem for the American DreamIn his first major book on the subject of income inequality, Noam Chomsky skewers the fundamental tenets of neoliberalism and casts a clear, cold, patient eye on the economic facts of life....

Explains topics in macroeconomics, including market equilibrium; gross national product; supply and demand; inflation; international trade; fiscal and monetary policy control; unemployment; protectionism and more; and providing practice and review questions with answers.