Political Economy - Softcover

"The field of political economy has made a full comeback into the center of economic analysis. Dan Usher's very readable text demonstrates the power of political economy analysis to address questions in welfare economics, political behavior, public administration, and legal arrangements. His conclusion, like that of the great political economists from David Hume and Adam Smith to F. A. Hayek and James Buchanan is that a market economy with private ownership in the means of production, a political system based on majority-rule voting, a rule-bound public administration, and an independent judiciary are the mutually reinforcing ingredients to a good society. Usher's text is a welcomed addition to literature in modern political economy." Peter J. Boettke, George Mason University

This thought-provoking introduction to economics exposes readers to the workings of the market in a democratic state. The text explains basic economic concepts from a political perspective: how the price mechanism substitutes for central authority in determining production and allocation of goods: the use of demand and supply curves to trace the impacts of tariffs, taxes, subsidies, quotas, and patents: and the redistribution of income. Additionally the text explores political topics from an economic perspective, including the avoidance of anarchy and despotism: and the mutual dependence of markets, voting, public administration, and law.Assuming no prior background in economics or calculus, the text relies largely on simple stories and paradigms to convey important economic concepts, preparing the student for more advanced courses and applying the lessons of economics for the citizen in a modern democratic society.