Economics [Paperback]

Joseph Stiglitz (Author)

Book Description

Publication Date: October 1997 | ISBN-10: 0393982467 | ISBN-13: 978-0393982466 | Edition: 2

Economics has been thoroughly revised, simplified, and updated for the Fourth Edition.

Co-written by Joseph Stiglitz, winner of the Nobel Prize for his research on imperfect markets, and Carl E. Walsh, one of the leading monetary economists in the field, Economics is the most modern and accurate text available.

--This text refers to the Hardcover edition.

Editorial Reviews

About the Author

Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.

Carl E. Walsh is professor of economics at the University of California, Santa Cruz. He is widely known for his research in monetary economics and is the author of a leading graduate text, Monetary Theory and Policy (MIT Press). Before joining the Santa Cruz faculty, Professor Walsh was senior economist at the Federal Reserve Bank of San Francisco, where he continues to be a visiting scholar.
--This text refers to the Hardcover edition.

Product Details

• Paperback
• Publisher: R.S. Means Company; 2 edition (October 1997)
• Language: English
• ISBN-10: 0393982467
• ISBN-13: 978-0393982466
• Product Dimensions: 11 x 8.6 x 2.7 inches
• Shipping Weight: 6.2 pounds
• Average Customer Review: 3.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #9,763,437 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

27 of 32 people found the following review helpful:

3.0 out of 5 stars OK, but what's with all the New Economy worship?, May 22, 2002

By 

Hiroo Yamagata (Shinagawa-ku, Tokyo Japan) - See all my reviews
(REAL NAME)   

This review is from: Economics, Third Edition (Hardcover)

Hey, the new Stiglitz text book! I was looking forward to this (I look forward to almost anything from Krugman and Stiglitz), but my impression of this new Stiglitz text is rather negative.

As an introductory text book, it's not bad. Covers all the important points of micro and macro. However, I was rather dissapointed that the text book emphasises "the new economy" caused by IT. It has all these "e-Insights" and "e-Cases" in all of the chapters, to show how IT is affecting the economy in fundamental ways.... only, is it? After the fall of dot.coms in 2000, I would have expected a more reserved approach, to say the least, not just all these IT glorifications. Especially from Stiglitz, the champion of the economics of information, I didn't imagine such "oh the Internet is great" attitude. Such as; "lowering search costs, the Internet holds out the promise of vastly increasing the efficiency of labor markets." (p.313) Really? I thought the lessons of the dot.com crash was that when people say "enormous" or "vastly" about IT benefits, you should ask "how enourmous/vast?" This text book doesn't do that. "Today, with virtually instantaneous information on sales, production and inventories, managers gan fine tune their production levels, avoiding the types of fluctuations seen in the past." (P.777) Theoretically, yes. But that didn't materialize too well, did it. But no comment on that. It devotes significant pages (well, 4, but with so much ground to cover, this is quite a lot to the history of personal computers and the Internet (pp.6-10). Nice story, but how does that tie in to the theme of economics? The book offers no connection! It's supposed to give an overview of the issues in Economics, but it's not a particulary good one (this industry is a bit peculiar, you know.)

I just hope the undergrads using this text book doesn't start another IT bubble.

On the good side, Stiglitz's experience at the World Bank has a lot of positive effect. The parts about development aid and globalization is strong (although short, but hey, this is only introductory). It's readable and understandable (but I'm in Japan; compared to the cranky jargon-laden econ textbooks here, most American textbooks are sweeter than candy). It's treatment of inflation is rather deep, which is nice. Emphasis of the environmental issues are, well, a bit bent toward the "Litany" (see Lomborg "Skeptical Environmentalist" on this), but it's good to see that they are given some explanation.

All in all, it's not as good as I expected, but still very good and strong. I might say that grabbing the 2nd edition (which is getting real [inexpensive] now...) might offer more U (utility) for your buck.

2 of 14 people found the following review helpful:

4.0 out of 5 stars understandable with abundant cases, November 4, 1998

By 

A Customer - See all my reviews

This review is from: Economics (Second Edition) (Hardcover)

First of all, cover design and abundant pictures attraced my mind and then I just bought and read through it without special burden. but now I came to know that's really big help for me to understand Economics together with quick real world application.....that's why I'm recimmending this book. buy introduction of modern economic theory is reletavely neglected.........I dare to say.