Economics in Life (Second Edition)

Author: Mao Yushi
Publisher:
Publish Date: 2003-03-01
Features: The Economics of Life was first published in 1998 and is a highly acclaimed popular economics book. Professor Mao Yushi once said, "I have a principle in my research: no matter how profound the theory is, if you understand it thoroughly, it must be reducible to phenomena in daily life." Under this "principle," Professor Mao wrote A Market Economy in Everyday Life during his time as a visiting scholar at Harvard University. In this book, he presents economic insights in a "household-style", connecting everyday with the operation norms of a market economy, revealing his personal perspectives and offering enlightenment. The book contains 44 topics, each forming a complete system. The author uses experiences that everyone might have to explain fundamental theories such as national economic accounting, aggregate equilibrium, inflation, price and resource allocation, external effects, and international trade. It particularly emphasizes discussions on economic institutions and transaction costs, paying attention to introducing the cultural, legal, and moral background of a market economy, which are the foundations for the observance of market rules. It guides readers to think critically and extract insights, allowing them to grasp economics in a way they can understand. For busy readers, even a few moments of leisure are enough to read one or two chapters, and further reflection and analysis will surely yield rewards, making your "knowledge life" more fulfilling.