The Economist's View of the World: And the Quest for Well-Being

Steven E. Rhoads' classic introduction to economic way of thinking, updated to account for political and economic developments, explores opportunity cost, marginalism, and economic incentives, and critiques economics for its unbalanced emphasis on narrow self-interest.

Format: Paperback / softback
Publication date: 27 April 2023
Publisher: Cambridge University Press

Steven E. Rhoads' classic, first published in 1984, has been widely regarded as one of the finest introductions to the economic way of thinking and its practical applications. To reflect political and economic changes since then, including the growing interest in income redistribution, the rise of behaviorism, and the Trump presidency, this commemorative edition has been revised. Rhoads examines opportunity cost, marginalism, and economic incentives, explaining why mainstream economists, even those on the left, continue to value free markets. He also criticizes economics for its narrow focus on self-interest as the primary driving force and path to happiness, highlighting the findings of philosophers and positive psychologists that happiness is far more dependent on friends and family than on income or wealth. This thought-provoking exploration of the economist's mind is a must-read for our times, offering a clear, lively, and non-technical insight into how economists think and why they should not be overlooked.

Steven E. Rhoads' classic, first published in 1984, has been widely regarded as one of the finest introductions to the economic way of thinking and its practical applications. To reflect political and economic changes since then, including the growing interest in income redistribution, the rise of behaviorism, and the Trump presidency, this commemorative edition has been revised. Rhoads examines opportunity cost, marginalism, and economic incentives, explaining why mainstream economists, even those on the left, continue to value free markets. He also criticizes economics for its narrow focus on self-interest as the primary driving force and path to happiness, highlighting the findings of philosophers and positive psychologists that happiness is far more dependent on friends and family than on income or wealth. This thought-provoking exploration of the economist's mind is a must-read for our times, offering a clear, lively, and non-technical insight into how economists think and why they should not be overlooked.

In 1984, Steven E. Rhoads released a classic that has been widely acclaimed as one of the best introductions to the economic way of thinking and its applications. This commemorative edition has been updated to account for political and economic developments since then, including the growing interest in income redistribution, the rise of behaviorism, and the Trump presidency. Rhoads delves into the concepts of opportunity cost, marginalism, and economic incentives, explaining why mainstream economists, even those on the left, continue to value free markets. He also critiques economics for its narrow emphasis on self-interest as the primary driving force and path to happiness, highlighting the findings of philosophers and positive psychologists that happiness is far more dependent on friends and family than on income or wealth. This thought-provoking exploration of the economist's mind is a must-read for our times, offering a clear, lively, and non-technical insight into how economists think and why they should not be overlooked.

Weight: 510g
Dimension: 151 x 229 x 23 (mm)
ISBN-13: 9781108994071
Edition number: Revised ed