Puzzles and Paradoxes in Economics [Hardcover]

Mark Skousen (Author), Kenna C. Taylor (Author)

Book Description

Publication Date: June 30, 1997 | ISBN-10: 1858983789 | ISBN-13: 978-1858983783

Economics is full of puzzles and paradoxes that often frustrate and challenge everyone, including economists. This book focuses on three types of paradox. First, everyday observations that appear to belie common sense (such as, why do some supermarket items sell for more per ounce in larger sizes?). Second those paradoxes which have perplexed economists in the past but have since been fairly resolved (such as, the diamond-water paradox). Finally, empirical or conceptual anomalies that remain unresolved and present a challenge to today's economists (such as, the voting paradox). Fifty puzzles and paradoxes are analyzed in a clear framework. Examples include: the fairness of market wages, the alleged gold absurdity, Giffin goods and the Irish potato famine, the paradox of thrift, the supposed peversity of Wall Street, the leisure paradox, why the best Washington apples are shipped out of state (the Alchian-Allen theorem), the question of whether teachers are underpaid, whether studying economics makes people immoral and whether war is good for the economy.

Editorial Reviews

About the Author

Mark Skousen, Adjunct Professor of Economics and Finance, Rollins College, Winter Park, Florida

Kenna C. Taylor, Associate Professor of Economics, Rollins College, Winter Park

Product Details

• Hardcover: 215 pages
• Publisher: Edward Elgar Pub (June 30, 1997)
• Language: English
• ISBN-10: 1858983789
• ISBN-13: 978-1858983783
• Product Dimensions: 9.3 x 6.2 x 0.9 inches
• Shipping Weight: 11.2 ounces (View shipping rates and policies)
• Average Customer Review: 2.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #3,028,659 in Books (See Top 100 in Books)

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1 of 1 people found the following review helpful:

2.0 out of 5 stars Under-delivers; internally inconsistent, March 5, 2010

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ClifCham "Trading Student" (Kansas City metro, USA) - See all my reviews

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This review is from: Puzzles and Paradoxes in Economics (Hardcover)

Although this book contains some interesting insights into economist-think, I was soon put off by several instances of obvious non-critical thinking. I started to read it from the front, then got bored with not understanding what seemed so obvious to the writers, then hopped around to several interesting-sounding essays. It is advertised as being suitable for the layman, but it contains much undefined jargon. I aced my 'economics for non-economists' course in college, have followed the economy in weekly news magazines since, have bachelors and masters degrees, retired from a long-time engineering position involving much analysis and technical writing, and now subscribe to one of Dr. Skousen's investing services. I think I should be able to understand most of it. Nevertheless this is one of the more tortured and confusing reads of my lifetime. PhD economists might understand and appreciate it, but I did not.