Political Economy

This thought-provoking introduction to economics exposes readers to the workings of the market in a democratic state. The text explains basic economic concepts from a political perspective: how the price mechanism substitutes for central authority in determining production and allocation of goods; the use of demand and supply curves to trace the impacts of tariffs, taxes, subsidies, quotas and patents; and the redistribution of income. Additionally the text explores political topics from an economic perspective, including the avoidance of anarchy and despotism; and the mutual dependence of markets, voting, public administration and law. Relies largely on stories and paradigms to convey important economic concepts. Explains basic economic concepts from a political perspective and explores political topics from an economic perspective. Covers topics such as the price mechanism, demand and supply curves, redistribution of income, anarchy, voting and public administration.

List of Figures. List of Tables. Preface. 1. How Dreadful Life Used to Be. 2. Making and Taking. 3. Taste, Technology and Markets. 4. Putting Demand and Supply Curves to Work. 5. Taste. 6. Technology. 7. Associations. 8. The Common Good. 9. Voting. 10. Administration. 11. Law. The Four Pillars. Notes. Author Index. Subject Index.