Smart Economics Commonsense Answers to 50 Questions about Government, Taxes, Business, and Households

Subjects:

• Economics » Economics (General)
• Economics » Microeconomics
• Economics » Macroeconomics
• Economics » Economic Policy

Reviews:

• Walden uses basic economic concepts and logic to examine the meaning, implications, and possible solutions to 50 current economic issues. Aimed squarely at the general reader, the book is organized as a series of questions with each two- to five-page chapter laying out the basic facts surrounding the issue and applying mainstream economic reasoning to explain those facts....Specific issues include budget deficits and the national debt, Social Security, outsourcing, the trade deficit, gasoline prices, sports franchises, immigration, poverty, and health care....Recommended. General readers; all levels of undergraduates.
  —Choice January 2006
• For readers with no background in economics or mathematics, Walden addresses some of the major economic questions in the news, not so much answering them as explaining the underlying issues and the criteria for making a decision. Among them are whether war helps the economy, whether Americans pay 60-80% of their income in taxes, whether low-paying jobs are replacing high-paying ones, and whether women earn less than men.
  —Reference & Research Book News November 2005
• [A]n entertaining and informative introduction to economic principles and their influence on our behavior.
  —Greater Hartford Business Times January 2006

• Endorsement From J. F. Smith
  Professor, Kenan-Flagler Business School
  University of North Carolina, Chapel Hill: Smart Economics will be a terrific book with wide appeal to educators at all levels, journalists, business executives, investors and interested general readers. It should be especially useful for MBA students who need drilling on the basics.
• Endorsement From E. C. Pasour Jr.
  Professor Emeritus
  Department of Agricultural and Resource Economics
  North Carolina State University: Professor Walden in this short book throws an unusual amount of light in answering 50 important economic questions. In his 'Smart Economics' approach, he shows why the seemingly obvious answers quite often are incorrect. Pitched to the non-economist, economists too can gain from this book. As one example, I found his discussion of the effect of importing drugs from Canada on U.S. drug prices to be particularly insightful.

Table of Contents:

• ECONOMIC QUESTIONS ABOUT WHAT GOVERNMENT DOES, WHAT GOVERNMENT DOESN'T DO, AND HOW GOVERNMENT SPENDS OUR MONEY
• Has Government Spending Been Out of Control?
• Will the National Debt Sink Our Economic Future?
• Do Budget Deficits Increase Interest Rates?
• Can Government Spending Be Cut by Eliminating Waste?
• Does Government Spend Too Much, or Not Enough, on the Poor?
• Does Spending on War Help the Economy?
• Does More Spent on Education Pay-off in Student Achievement?
• Has the Social Security Surplus Been Stolen?
• Is Social Security Going Bankrupt?
• Should Our Money Be Backed by Gold?
• Should Government Enforce a Living Wage?
• Should the Government Control the Prices of Necessities?
• Should Government Pay Businesses to Create Jobs?
• Can Government Create Prosperity?
• ECONOMIC QUESTIONS ABOUT HOW MUCH TAXES ARE PAID, WHO PAYS TAXES, AND THE FAIRNESS OF THE TAXES
• Do We Pay 60% to 80% of Our Income in Taxes?
• Does a Tax Bracket of 40% Mean the Government Takes 40% of Your Income?
• Can Cutting Tax Rates Increase Tax Revenue?
• Will a Tax Cut of $1 Create $7 to $10 of New Income?
• Do Corporations Pay Too Little in Taxes?
• Would Rich Investors Benefit from a Flat Tax?
• Is the Sales Tax Regressive?
• Do the Rich Get a Break on Social Security Taxes?
• Has the Marriage Tax Ended?
• ECONOMIC QUESTIONS ABOUT WHAT BUSINESS DOES AND WHY AND HOW THAT AFFECTS JOBS, CONSUMERS, AND THE COUNTRY
• Is American Manufacturing Dying?
• Are Low-Paying Jobs Replacing High-Paying Ones?
• Are Companies Out-Sourcing Good-Paying Jobs?
• Will Free Trade Destroy Our Economy?
• Can U.S. Workers Compete with Low-Paying Foreign Workers?
• Do Countries Only Prosper If They Run a Trade Surplus?
• Is a "Strong" Dollar Good and a "Weak" Dollar Bad?
• Are Profits Bad?
• Does Business Make Obscene Profits?
• Does Big Business Control the Economy?
• Can Pro Teams and Facilities Hit Economic Home Runs?
• Why Are Pro Sports Stars Paid So Much for Playing a Game?
• Are We Running Out of Farmers, Farmland, and Food?
• Are Gas Prices at an All-Time High??
• Do Big Oil Companies Manipulate Oil Supplies and Gas Prices?
• Should We Become Energy Self-Sufficient?
• Is Immigration Hurting Our Economy?
• ECONOMIC QUESTIONS ABOUT HOW HOUSEHOLDS LIVE AND HOW THEY EARN AND SPEND MONEY
• Is Everything More Expensive Today, or Should You Wish for the "Good Old Days"?
• Does It Take Two Incomes for Families to Get Ahead Today?
• Are Americans Drowning in Debt and Not Saving?
• Do Women Earn Less Than Men?
• Are the Rich Getting Richer and Everyone Else Getting Poorer?
• Is Poverty Getting Worse?
• If It Saves One Life, Is It Worth the Cost?
• Can Families Afford College?
• Would Importing Drugs Lower their Prices?
• Can the Government Lower Consumers' Health Costs?