"This book is important for understanding how economic principles can be applied to real-world problems. Professor Spulber discusses nine important myths that are often cited in the economics profession. These myths have important lessons for a number of current policy issues such as the Microsoft case, the supposed superiority of Betamax over VHS and the supposed current stock market bubble." Jack Carr, University of Toronto.
"Famous Fables of Economics is a welcome addition. Students will learn that fables and myths should not be accepted at face value. More importantly, they will see how economics can be used to challenge these myths. The book will prove useful in an array of courses, especially those that deal with policy issues." Roger D Blair, University of Florida.
Famous Fables of Economics critiques some of our most cherished stories of market failure. It provides an amusing look at economic thought that is accessible to general readers, students, professionals, & academics, & raises fundamental questions about the role of the government in society.