Trade-Offs
An Introduction to Economic Reasoning and Social Issues
126 pages
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5-1/2 x 8-1/2
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© 2005
When economists wrestle with issues such as unemployment, inflation, or budget deficits, they do so by incorporating an impersonal, detached mode of reasoning. But economists also analyze issues that, to others, do not typically fall within the realm of economic reasoning, such as organ transplants, cigarette addiction, smoking in public, and product safety. Trade-Offs is an introduction to the economic approach to analyzing these controversial public policy issues.
Harold Winter provides readers with the analytical tools needed to identify and understand the trade-offs associated with these topics. By considering both the costs and benefits of potential policy solutions, Winter stresses that real-world policy decision making is best served by an explicit recognition of as many trade-offs as possible.
Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone who follows current social policy debates.
Harold Winter provides readers with the analytical tools needed to identify and understand the trade-offs associated with these topics. By considering both the costs and benefits of potential policy solutions, Winter stresses that real-world policy decision making is best served by an explicit recognition of as many trade-offs as possible.
Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone who follows current social policy debates.
Choice Magazine: CHOICE Outstanding Academic Title Awards
Won
"Harold Winter's engaging volume, Trade-Offs, is a great starting point for introducing students to the economic approach to policy issues. Where other disciplines see absolutes, economics sees trade-offs. And, as Winter shows, the guidance economics provides as to what these trade-offs are and what balance we should strike is often surprising. Trade-Offs illustrates the broad range of economic reasoning with a wealth of case studies that run the gamut from auto safety to organ transplants. This book will get students excited about learning economics."—W. Kip Viscusi, author of Smoke-Filled Rooms
"A delightful book. I truly enjoyed reading this. Gracefully and wittily written, it makes very serious points with a light touch. The coverage of topics, such as smoking, copyright, organ transplantation, medical malpractice, products liability, and more is timely, provocative, and instructive. I will certainly put this wonderful introduction to economic reasoning in the hands of my law students. One couldn't ask for a better guide to the power of cost-benefit analysis and the economic way of seeing the world."—Thomas S. Ulen, University of Illinois at Urbana-Champaign
"This is a delightful book. It made me feel proud to be an economist."—Miles Kimball, University of Michigan
"With this slim volume, Winter joins the ranks of recent economists who have tried to unlock the mysteries of economic reasoning for the uninitiated. Winter's book boasts one major advantage over its competitors: its organization around a unifying theme (benefit-cost analysis and the gains from trade) provides a conceptual framework that enables the reader to see patterns among the different issues surveyed. Given the target audience for this volume, the value of this pedagogical device cannot be overestimated. The topics are interesting, the writing is crisp, technical terms are adequately explained, and the tone is entertaining. Winter's interest in law is readily apparent throughout the book, from his discussion of piracy and copyright infringement to his analysis of product liability. . . . Winter's book is a wonderful introduction to economics for the layperson, as well as an excellent supplement for use in an entry-level economics course."--J. H. Turek, Choice
Choice "Outstanding Academic Title" 2006
"The treatment is synthetic and witty and makes abundant use of (usually only apparent) paradoxes, making pleasant reading. . . . One should expect that this precious little book would become widespread reading not only in basic courses of economics, but also in law schools. . . . But every sensible person interested in societal matters and not familiar with law and economics issues should read it."
Contents
Preface: Welcome to My World
Acknowledgments
1. Approaching Social Issues
2. A Valuable Life (to Some Extent)
3. Do You Want to Trade?
4. What's Yours Is Mine
5. Smoke If You Got 'Em
6. Stop Bothering Me
7. Behave Yourself
8. Warning: Beware of Products
9. There Are No Solutions
Index
Acknowledgments
1. Approaching Social Issues
2. A Valuable Life (to Some Extent)
3. Do You Want to Trade?
4. What's Yours Is Mine
5. Smoke If You Got 'Em
6. Stop Bothering Me
7. Behave Yourself
8. Warning: Beware of Products
9. There Are No Solutions
Index
For more information, or to order this book, please visit http://www.press.uchicago.edu
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Economics and Business: Economics--General Theory and Principles
Law and Legal Studies: Law and Economics | Law and Society
Philosophy: General Philosophy
Political Science: Political Behavior and Public Opinion
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