EconoPower : How a New Generation of Economists Is Transforming the World

Author / Creator
Skousen, Mark
Available as

EconoPower will provide you with a firm understanding of the influence of modern economics and how it can be used to improve the world we live in. It offers practical advice on numerous personal fi...

EconoPower will provide you with a firm understanding of the influence of modern economics and how it can be used to improve the world we live in. It offers practical advice on numerous personal financial matters-earning, saving, investing, and retiring-based on the breakthrough contributions of behavioral economists. And it looks at how economists are working successfully on issues such as public education, crime, and global warming. EconoPower also examines how a new economic philosophy may dominate the new millennium.

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  • 1st ed
  • Hoboken : John Wiley & Sons, Incorporated, 2008
  • ©2008
Physical Details
  • 1 online resource (290 pages)
0470280239, 0470138076, 1118045122, 1281285110, 9781281285119, 9781119196914, 9786611285111, 1119091861, 1119196914, 9780470280232, 9780470138076
ocn166368363, ocn647763324, ocn437204851, ocn228504484

  • Intro -- EconoPower: How a New Generation of Economists is Transforming the World -- Contents -- Foreword -- Acknowledgments -- Introduction: A Golden Age of Discovery -- From the Dismal Science... -- ...To a New Imperial Science -- Seven Power Tools of Economics -- Economists' Powerful Methods -- Can Investors Beat the Market? -- Public Choice Theory: New and Improved Government -- Economics Enters the Courtroom -- The Outline of EconoPower -- Part 1: PERSONAL FINANCE -- Chapter 1: Economist Discovers a Painless Way to Triple Your Savings Rate -- The United States Is Living on Borrowed Time -- Behavioral Economics Enter the Workplace...with a Little Help from Washington -- The Economist behind the SMART Plan -- From Reluctant to Enthusiastic Savers -- Where Will You Invest Your 401(k)? -- Chapter 2: Modern Portfolio Theory -- Economists Create a Modern Portfolio Theory -- Who Can Beat the Averages? -- Chapter 3: Yes, You Can Beat the Market...with Less Risk -- IBM ("Big Blue") versus Exxon ("Big Oil") -- Beware of Technology Stocks -- Siegel's Positive Strategy -- Dividend Weight versus Market Capitalization -- Show Me the Money -- Chapter 4: High-Return Investing -- Along Comes the New Yale Model -- "Eating Your Own Cooking" -- Other Ivy League Schools Adopt Yale's Model -- Beating the Market Is Highly Improbable, but Not Impossible -- Chapter 5: How Chile Created a Worker-Capitalist Revolution -- How Does Chile's Private Pension System Work? -- The Benefits of Following the Chilean Model -- Chapter 6: The Call for Social Security Reform -- Why Not "Foodcare"? -- Safety Net or Dragnet? -- Chapter 7: 4,000 a Month from Social Security? -- Social Security versus Individual Retirement Accounts -- Chapter 8: How the Private Sector Solved Its Own Pension Crisis -- The New Solution: Individualized 401(k) Plans -- Why Social Security Needs Reform
  • Chapter 9: The Four Sources of Happiness -- Why Most Poor People Are Unhappy -- Four Elements of Happiness -- Part 2: ECONOMISTS ENTER THE CORPORATE BOARDROOM -- Chapter 10: Improving the Bottom Line with EVA -- Are Accounting Profits for Real? -- EVA Wins the Battle -- Chapter 11: How Ludwig von Mises Helped Create the World's Largest Private Company -- Influence of the Austrian School -- Teaching Market-Based Management at Columbia Business School -- Anti-Keynesian, Anti-State? -- Part 3: SOLVING DOMESTIC PROBLEMS -- Chapter 12: Look, Ma'am, No Traffic Jams! -- Why Isn't the Current System Working? -- Solutions to Transportation Gridlock -- The Singapore Example of Peak Pricing -- The London Congestion Charge -- The Nation's Pioneer HOT Lane: 91 Express Lanes in Orange County, California -- Other States Adopt HOT Lanes and Tolling -- Chapter 13: Patient Power -- Is Universal Health Care the Solution? -- How Good Are the British and Canadian Health Care Systems? -- The Market Solution: Lower Costs, Higher Quality, and No Waiting -- Who's to Blame? -- How to Resolve the Health Care Problem -- Introducing Health Savings Accounts (HSAs): The Whole Foods Story -- Chapter 14: Back to Basics -- Poor Education in the Public Schools -- Milton Friedman's Idea of School Choice -- Chapter 15: Chicago Gun Show -- Does the Death Penalty Deter Crime? -- Gun Control and Crime -- Chapter 16: Economists Catch Auction Fever -- The Economists behind the Google IPO Auction -- William Vickrey, Father of Auction Theory -- The English Auction and the Winner's Curse -- How a Vickrey Auction Works -- Stamp Auctions and the Threat of Cheating -- The U.S. Treasury Department Saves Millions -- The FCC and Cellular Licenses -- Chapter 17: If You Build It Privately...They Will Come -- Private Solutions for Public Services -- Economists Attack Public Financing
  • The Sports Economist -- Chapter 18: Who Is Henry Spearman? -- Elementary Economics, My Dear Watson -- Defending the Free Market -- Who Is This Free-Market Economist? -- More Like Becker? -- Part 4: SOLVING INTERNATIONAL PROBLEMS -- Chapter 19: Eco-nomics Debate -- What about Global Warming? -- The Polluted State: Tragedy of the Commons -- Cap-and-Trade, or Carbon Tax? -- Chapter 20: The Population Bomb -- The First Population Alarmist: Reverend Malthus -- Malthus's Sins of Omission -- Chapter 21: A Private-Sector Solution to Extreme Poverty -- Private-Sector Microlending -- Saying No to the World Bank -- From Marxism to Marketism -- Chapter 22: Poverty and Wealth: India versus Hong Kong -- From Tragic India... -- ...To New India -- Chapter 23: How Real Is the Asian Economic Miracle? -- The Cause of the Miracle -- Krugman's Challenge -- The Tyranny of Numbers -- Singapore's Economic Miracle -- The Lessons of Asia -- Chapter 24: Whatever Happened to the Egyptians? -- Islamic Economics -- Chapter 25: The Irish Economic Miracle -- Outlook by Top Economists -- The Celtic Tiger: The Luck of the Irish -- The Future Is Boundless -- Chapter 26: The Marginal Tax Revolution -- Introducing the Laffer Curve -- The Flat Tax Movement -- Chapter 27: The Debate Over Economic Inequality -- The Work of Stanley Lebergott -- Everything Is Cheap and Getting Cheaper -- Benefits to the Poor and Unskilled -- Today the Poor Are Gaining -- Chapter 28: One Graph Says It All -- Economic Freedom: A Cost or a Benefit? -- The New Enlightenment -- The Creation of the Economic Freedom Index -- Heritage/Wall Street Journal Study -- Economic Freedom and Growth -- Ending Political Corruption: The Virtue of Being Rich -- Critique of the Economic Freedom Indexes -- Chapter 29: Amazing Graph -- The Impossible Dream of One Faith -- Chapter 30: Peace on Earth, Good Will toward Men
  • Commerce and Trade Break Down Barriers -- The Case for Religious Competition -- Part 5: PREDICTING THE FUTURE -- Chapter 31: New Yale Forecasting Model -- A New Macro Model at Yale -- Chapter 32: Forecasting Elections -- Which Forecasts Better: Gallup or IEM ? -- Who Won in 2000: Bush or Gore? -- Why Speculators Outperform Pollsters -- Chapter 33: What Drives the Economy and Stocks -- The Importance of Say's Law -- What the Leading Economic Indicators Are Telling Us -- What about the Consumer Confidence Index? -- Why Doesn't the Conference Board Include Corporate Profits as a Leading Indicator? -- Beware of Keynes's Law -- Gross Domestic Expenditures (GDE): A New Measure of Total Economic Activity -- U.S. Commerce Department Introduces New Macro Statistic -- Chapter 34: The Midas Metal -- What's Missing from This Picture? -- Return to the Gold Standard? -- Not Just Another Commodity -- Gold as an Inflation Hedge -- Two Amazing Graphs -- Gold as a Profitable Investment -- Gold as a Forecaster -- Chapter 35: Is Another Great Depression Possible? -- The Impact of the Great Depression -- The Cause of the Great Contraction -- The Prolonged Slump -- What Got Us Out? -- Can It Happen Again? -- Chapter 36: Today's Most Influential Economist? -- Other Austrian Heroes: Drucker and Schumpeter -- A Tale of Two Cities -- The Great U-Turn -- Chapter 37: Economics for the 21st Century -- The Crimes of the Twentieth Century -- The Economic Miracle of the Twentieth Century -- Beware the Enemy -- Notes -- About the Author -- Index
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