Excerpt from Essentials of Economic Theory
The Political Economy of the century following the publication of the Wealth of Nations dealt more with static problems than with dynamic ones.
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781330146538
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Paperback. Zustand: New. Print on Demand. This book takes a fresh look at the principles of economic theory through an examination of economic laws as they apply to both static and dynamic economic systems. The author argues that static, or unchanging, economies are a useful abstraction used to discover and state natural economic laws, but they are far less useful than dynamic laws for understanding the complexities of the real world. The author presents general economic laws that govern production, income, and consumption, and examines the role of technology, labor, and capital in shaping economic progress. In addition, the book discusses economic principles that affect the transportation, labor, and banking industries, as well as the role of money and protective tariffs. The author's balanced approach provides a survey of the relevant literature of the time and also includes results of his own research, which have helped economists and policymakers gain a better understanding of how the economy operates. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781330146538_0
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