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, if you understand it thoroughly, it must be reducible to phenomena in daily life." Under this "principle," Professor Mao wrote A Casual Look at the U.S. Market during his time as a visiting scholar at Harvard University, turning it into an economic (casual essays) in a "household-style" manner. By linking the description of everyday ( - trivial matters) to the operation of market economy norms, the author reveals personal insights, offering enlightenment. The book contains 44 topics, each self-contained, and Mao uses experiences that everyone might have to explain basic theories such as national economic accounting, aggregate equilibrium, inflation, price and resource allocation, externalities, and international trade. It particularly emphasizes discussions on economic systems and transaction costs, paying attention to introducing the cultural, legal, and moral background of market economies, which are the foundation for the adherence to market rules. It guides readers to think, analyze, and extract wisdom, allowing them to grasp the economics they can master. Busy readers only need a moment of leisure to read one or two chapters, and they can reflect and analyze later—this will surely yield rewards and make your "knowledge life" more complete.