Howard Baetjer Jr.

Economics and Free Markets

Notify me when the book’s added
To read this book, upload an EPUB or FB2 file to Bookmate. How do I upload a book?
When we stop to consider it, a free economy is a marvel. Millions of people, mostly unknown to one another, each producing some particular good or service, somehow manage to coordinate their actions in a vast, cooperative, productive order with no one in charge. How does it work?
Economics helps us understand. This book introduces the concepts on which all of economics is founded, concepts such as subjective value and gains from trade, scarcity and opportunity cost, thinking at the margin, division of labor, and comparative advantage. It then introduces the foundational theory with which we understand how market prices emerge and change to reflect changing conditions: supply and demand analysis. It also introduces the principles that underlie spontaneous economic order: market prices provide the information we need to coordinate our actions with others’ actions, while profit-and-loss feedback guides entrepreneurs as to how best to satisfy others’ wants. Private property rights and freedom of exchange give us the incentive to interact in mutually beneficial ways.
This book is currently unavailable
148 printed pages
Original publication
2017
Publication year
2017
Have you already read it? How did you like it?
👍👎
fb2epub
Drag & drop your files (not more than 5 at once)