Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly
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Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly

Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly

By
John Quiggin (Author)  

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A masterly introduction to the key ideas behind the successes-and failures-of free-market economics Since 1946, Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain why markets often work so well, but it can't explain why they often fail so badly-or what we should do when they stumble. As Nobel Prize-winning economist Paul Samuelson quipped, "When someone preaches 'Economics in one lesson,' I advise: Go back for the second lesson." In Economics in Two Lessons, John Quiggin teaches both lessons, offering a masterly introduction to the key ideas behind the successes-and failures-of free markets. Brilliantly accessible, this book unlocks the essential issues at the heart of any economic question. 6 b/w illus. 4 tables.
John Quiggin is the Laureate Professor in Economics at the University of Queensland in Brisbane, Australia. He is the author of Zombie Economics: How Dead Ideas Still Walk among Us (Princeton). Twitter @JohnQuiggin
  • Contributor: John Quiggin
  • Imprint: Princeton University Press
  • ISBN13: 9780691217420
  • Number of Pages: 408
  • Packaged Dimensions: 140x216mm
  • Format: Paperback
  • Publisher: Princeton University Press
  • Release Date: 2021-04-09
  • Binding: Paperback / softback
  • Biography: John Quiggin is the Laureate Professor in Economics at the University of Queensland in Brisbane, Australia. He is the author of Zombie Economics: How Dead Ideas Still Walk among Us (Princeton). Twitter @JohnQuiggin

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