Economics, Volume 1 Economic Science Translation Series

Author: (American) Stiglitz (Stiglitz, J.E.) wrote, translated by Gao Hongye and others
Publisher:
Publishing Date: 1997-05-01
Features: This book is a revolutionary introductory textbook on Western management studies that overturns the theoretical system represented by Samuelson's neoclassical synthesis, and has been adopted by many universities in the United States. It will become the fourth landmark introductory textbook in the West after Samuelson's Economics. The features of this book are: , reflecting the new trends in the development of Western economics, seeking the microeconomic foundation of macroeconomics, that is, emphasizing the use of microbehavior to explain macrophenomena. Second, it introduces new arguments and principles emerging in the West, such as "menu costs," "search costs," "asymmetric information," "implicit wage contracts," "Ricardian equivalence," and so on. Third, it explains new phenomena and issues emerging in Western economics, such as "principal-agent relationships," "the consequences of asymmetric information," "certain flaws in financial markets," "how firms choose between issuing bonds and stocks when financing," "mergers and acquisitions of enterprises," especially "hostile mergers and acquisitions," and so on. Of course, as an introductory textbook on Western economics, this book also carries the ideological biases of Western economics and inappropriate research methods. Therefore, readers should analyze it from the perspective, viewpoint, and methodology of Marxism.