Enjoy fast, free delivery, exclusive deals, and award-winning movies & TV shows with Prime
Try Prime and start saving today with fast, free delivery

Kindle
$19.43

Available instantly

Audiobook
$0.00
with membership trial

Hardcover
$29.95

Paperback
$20.45

Get Fast, Free Shipping with Amazon Prime FREE Returns

FREE delivery Monday, April 8 on orders shipped by Amazon over $35. Order within 13 hrs 28 mins

Select delivery location

Only 1 left in stock (more on the way).

$$29.95 () Includes selected options. Includes initial monthly payment and selected options. Details

Ships from

Amazon.com

Ships from

Amazon.com

Sold by

Amazon.com

Sold by

Amazon.com

Returns

Eligible for Return, Refund or Replacement within 30 days of receipt

Returns

Eligible for Return, Refund or Replacement within 30 days of receipt

This item can be returned in its original condition for a full refund or replacement within 30 days of receipt.

Read full return policy

Payment

Secure transaction

Payment

Secure transaction

We work hard to protect your security and privacy. Our payment security system encrypts your information during transmission. We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. Learn more

Details

Add a gift receipt for easy returns

Get Fast, Free Shipping with Amazon Prime

FREE delivery Saturday, April 6 on orders shipped by Amazon over $35

Or fastest delivery Friday, April 5. Order within 11 hrs 43 mins

Select delivery location

Used: Like New | Details

Sold by Baltampa Exchange

Fulfilled by Amazon

Access codes and supplements are not guaranteed with used items.

Other Sellers on Amazon

Added

Not added

$34.38
& FREE Shipping

Sold by: BOOKS etc. _

Follow the author

John Quiggin

Follow

Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly Hardcover – April 23, 2019

by John Quiggin (Author)

27

See all formats and editions

{"desktop_buybox_group_1":[{"displayPrice":"$29.95","priceAmount":29.95,"currencySymbol":"$","integerValue":"29","decimalSeparator":".","fractionalValue":"95","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"9th2iQRaMj%2FDpMYG8mqNNgbmJHJ3%2BkydIo3W0hOdXQQcpv6QsfRdlQ76OkfyfkLfZCj1RhRFK43OC4owJnSMP2wwtHuRyTs6vMcadhlJcdeRxqBZDu%2BUw3JoKZzmtQi4cC6B7fZEp%2FYGzg5nhhJ3NA%3D%3D","locale":"en-US","buyingOptionType":"NEW","aapiBuyingOptionIndex":0}, {"displayPrice":"$16.97","priceAmount":16.97,"currencySymbol":"$","integerValue":"16","decimalSeparator":".","fractionalValue":"97","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"9th2iQRaMj%2FDpMYG8mqNNgbmJHJ3%2BkydnsDWfxbz2wtaWuqJ0LXtaso8qagk89%2FyOPSOklsQEDWNMyL8kj%2FXc2FN7EVqFjiD%2BR2p%2B8J7oSs1OKNAvctnkD1A4PJP%2BXEW6BecnagLkQkUEmwzOZakbcjzXPzy9b0BxmaUVIMGs67i5MDW0WJjnkJfqn5L7cdq","locale":"en-US","buyingOptionType":"USED","aapiBuyingOptionIndex":1}]}

Purchase options and add-ons

A masterful 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 masterful introduction to the key ideas behind the successes―and failures―of free markets.

Economics in Two Lessons explains why market prices often fail to reflect the full cost of our choices to society as a whole. For example, every time we drive a car, fly in a plane, or flick a light switch, we contribute to global warming. But, in the absence of a price on carbon emissions, the costs of our actions are borne by everyone else. In such cases, government action is needed to achieve better outcomes.

Two-lesson economics means giving up the dogmatism of laissez-faire as well as the reflexive assumption that any economic problem can be solved by government action, since the right answer often involves a mixture of market forces and government policy. But the payoff is huge: understanding how markets actually work―and what to do when they don’t.

Brilliantly accessible, Economics in Two Lessons unlocks the essential issues at the heart of any economic question.

Print length

408 pages
Language

English
Publisher

Princeton University Press
Publication date

April 23, 2019
Dimensions

5.7 x 1.4 x 8.6 inches
ISBN-10

0691154945
ISBN-13

978-0691154947
See all details

Frequently bought together

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

$29.95

Get it as soon as Monday, Apr 8

Only 1 left in stock (more on the way).

Ships from and sold by Amazon.com.

+

Against Inequality: The Practical and Ethical Case for Abolishing the Superrich

$27.63

Get it as soon as Saturday, Apr 6

In Stock

Ships from and sold by Amazon.com.

+

Tell Me How It Ends: An Essay in 40 Questions

$11.45

Get it as soon as Saturday, Apr 6

In Stock

Ships from and sold by Amazon.com.

Total price:

To see our price, add these items to your cart.

Try again!

Details

Added to Cart

Some of these items ship sooner than the others.

Show details Hide details

Choose items to buy together.

Valeria Luiselli
1,653
Paperback
137 offers from $1.85
John Quiggin
124
Paperback
46 offers from $3.67
Jacob Soll
62
Hardcover
60 offers from $10.39
Abhijit V. Banerjee
4,057
Hardcover
124 offers from $1.99
Tom Malleson
6
Paperback
34 offers from $16.85

Editorial Reviews

Review

"There is little doubt that Quiggin’s Economics in Two Lessons will be an instant classic and feature on university reading lists around the world. It should also be compulsory reading for policymakers and public commentators, who all too often lack a framework for thinking clearly about the costs and benefits of markets. The good news is that Quiggin has one―and he’s happy to share."---Richard Holden, Inside Story

"This is a highly readable introduction to the intellectual framework of modern policy economics, with plenty of lively examples."---Diane Coyle, Enlightened Economist

"His book would be a useful supplement to a principles of economics course, with the advantage of avoiding resort to any graphs or equations . . . . [It] provides an essential completion of the basic story . . . . It is essential reading for anyone interested in the practical side of economic policymaking."---Max B. Sawicky, Jacobin

"The themes are complex, but the writing is clear, and the journey is rewarding." ― BizEd

"Quiggin writes well and [this] book is full of useful erudite information."---Warwick Lightfoot, Financial World

"Many economists consider ‘opp cost’ to be the single most important and fundamental concept in economics, and the discipline’s most useful contribution to the betterment of mankind. Indeed, that’s the view Professor John Quiggin, of the University of Queensland, takes in his book Economics in Two Lessons, which I recommend as the best book to introduce you to economics."---Ross Gittins, Sydney Morning Herald

"Quiggin reckons with the incoherence of markets-only thinking in his masterful 2019 book Economics in Two Lessons, which explores the power, limitations and dangers of using markets to solve our problems in a thoughtful and clear way."---Cory Doctorow, Boing Boing

Review

“A brilliant book. People often try to write for readers who know no economics, but they rarely succeed. This book is an exception.”―Roger Backhouse, author of The Ordinary Business of Life: A History of Economics from the Ancient World to the Twenty-First Century

“This popular, accessible introduction to economics is organized around an idea that is brilliantly simple yet encompassing.”―Suresh Naidu, Columbia University

"With apologies to Isaiah Berlin, Quiggin is a foxy hedgehog: He knows two big things, and these twin lessons―about the virtues and limits of markets―sustain a pioneering, persuasive, and even passionate case for democracy and the mixed economy. Make room for two lessons in your mind, and on your bookshelf.”―Jacob S. Hacker, coauthor of American Amnesia: How the War on Government Led Us to Forget What Made America Prosper

"With a confident style, John Quiggin weaves together clear theory and fascinating stories to explain why markets work and why they fail. He makes the case that one-lesson economics, based on the idea that market prices are always right, is as useful as a one-wheeled bicycle. If you want to understand what free-market economics gets right, and when governments need to step in, this is the book for you. My two lessons: buy it, and read it."―Andrew Leigh, member of the Parliament of Australia

"Anyone who wants to understand the real workings and real limits of real markets should read this book.”―Ingrid Robeyns, author of Wellbeing, Freedom, and Social Justice

Product details

Publisher ‏ : ‎ Princeton University Press (April 23, 2019)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 408 pages
ISBN-10 ‏ : ‎ 0691154945
ISBN-13 ‏ : ‎ 978-0691154947
Item Weight ‏ : ‎ 1.5 pounds
Dimensions ‏ : ‎ 5.7 x 1.4 x 8.6 inches

Best Sellers Rank: #1,708,695 in Books (See Top 100 in Books)
- #544 in Microeconomics (Books)
- #826 in Free Enterprise & Capitalism
- #839 in Macroeconomics (Books)

Customer Reviews:
27

Brief content visible, double tap to read full content.

Full content visible, double tap to read brief content.

Videos

Help others learn more about this product by uploading a video!

Upload your video

About the author

Follow authors to get new release updates, plus improved recommendations.

John Quiggin

Brief content visible, double tap to read full content.

Full content visible, double tap to read brief content.

Discover more of the author’s books, see similar authors, read author blogs and more

Customer reviews

4.1 out of 5

27 global ratings

2 star

0%

1 star

14%

How customer reviews and ratings work

Sort reviews by

Top reviews from the United States

There was a problem filtering reviews right now. Please try again later.

Michael R. Huben

An unbiased counter to right-wing economic propaganda.

Reviewed in the United States on December 18, 2019

Verified Purchase

When people dislike points of view but cannot rebut them, they often claim bias.

One of the major stratagems of propaganda is to blinker readers to conflicting information. That's what "Economics In One Lesson" did, and what Quiggin undoes. Much more politely than "Economics In One Lesson" deserves.

This is an essential book for understanding what's wrong with most conservative economic claims. It also presents many fascinating historical aspects of economics along the way.

7 people found this helpful

Helpful

Kindle Customer

no specific comments

Reviewed in the United States on June 12, 2019

no specific comments

Reviewed in the United States on June 4, 2020

Verified Purchase

I am not in sympathy with most of the author’s views but I do like to have my views challenged. That said, I would not recommend this book even for those who share the author's views. This book needed a better editor; it is too repetitive.

As to the substance of the book, I was annoyed by the author’s repeated ad hominem attacks on economists who disagree with him. (One footnote I checked to see if it elaborated on an ad hominem attack made in the book was itself a summary ad hominem attack.)

The author plays semantical games. For example, he defines any period of economic activity that is below a prior peak as a period of recession. Thus, even if unemployment is falling and GDP is growing (even very rapidly), this period would qualify as recessionary.

Perhaps I misunderstood the author, but I had trouble following the logic of his analysis of the economic consequences of a broken window. He points out that repairer of the window may spent his/her earning on the purchase a suit, which would replace the foregone transaction of the owner of broken window buying a suit, which he/she can no longer afford. But this analysis fails to acknowledge the second transaction that would have occurred if the tailor had money from selling a suit to the owner of broken window.

The author appears to claim that it is impractical to have nationwide transport businesses that are not actively managed by the government.

7 people found this helpful

Helpful

Commodore Classics

Decent Book But With Huge Leftist Bias

Reviewed in the United States on July 30, 2019

Verified Purchase

The title Economics in Two Lessons is essentially a rebuttal to Henry Hazlitt's Economics in One Lesson of which Prof. Quiggin has disagreements. First, the Hazlitt book is not that well known in the United States even though Hazlitt was an American (the book was published in the late 1940s and like most economic books of that time, is partially outdated). Hazlitt wrote a summary of the Austrian school position (Hayek et al) which is to the right where Prof Quiggin is much to the left. He also is from and teaches in Australia. My view is that he does not completely understand the American views on some subjects which are different than those of Britain and Australia. He mistakenly thinks that property rights were granted in the United States imperiously from the government not understanding that America was homesteaded and that the people grant rights to the state( through their representatives who then enforce those rights) rather than the other way around. He also is a big believer in income redistribution without going through the costs that would entail...just viewing it as a natural right.

Yet, this book may be worth reading for the following reason: sophisticated readers will get a good idea why America has outpaced both Britain and to a lesser degree, Australia, since the beginning of the twentieth century.

14 people found this helpful

Helpful

Steven

Quiggins is economically illiterate. Don't bother.

Reviewed in the United States on January 3, 2020

Verified Purchase

It becomes clear from the start that the author has no clue what they're talking about.

8 people found this helpful

Helpful

Eisel Mazard, à-bas-le-ciel on youtube

Poorly written, poorly organized, aimless, pointless & points left unproven.

Reviewed in the United States on December 8, 2019

I purchased this book after hearing an interview with the author, and I began with the most positive expectations imaginable (i.e., I am not hostile to the author's political leanings, and the interview was over an hour long, making me familiar with his general aspirations/motivations in writing the book). As I've said here as a title, the book is _"Poorly written, poorly organized, aimless, pointless & points left unproven."_ This was much worse than my worst expectations: many of the contentious issues are better discussed in Bernie Sanders' book, although Sanders is not an economist. This is the most astonishingly awful work of non-fiction I've read in years, and, again, I went into this knowing what to expect, and with a positive (sympathetic) attitude toward the author and his overall thesis.

12 people found this helpful

Helpful

Zack

Political Bias Clouds Economics

Reviewed in the United States on October 30, 2019

He tries to emulate Keynes but comes off as confusing or simply confused. The main point is attempting to counter the original Economics in One Lesson.

8 people found this helpful

Helpful

Return this item for free