Robert Heilbroner and Lester Thurow provide a foundational breakdown of how capital, labor, and markets operate within a modern society. The text focuses on the mechanics of the United States economy during the late 1990s, specifically addressing the widening gap in income distribution and the rise of international trade under globalized capitalism. Using macro and microeconomic frameworks, the authors explain how the Federal Reserve manages money supply to prevent inflation and how government spending impacts overall economic stability and national growth.
This book serves students and laypeople who need to understand how financial systems dictate daily life. Readers gain the ability to interpret market fluctuations and federal policies without requiring advanced mathematical training. By the end, the reader possesses a clear mental model of how global competition influences domestic wages and why price stability remains a primary goal for central banks. It functions as a practical guide for those wanting to grasp the structural forces behind the news headlines.
Outward-looking and clear-cut; a moderate read.
Best for readers like The Evidence Seeker. Which reader are you?
- Published
- 1998
- Publisher
- Simon and Schuster
- ISBN
- 9780684846415
- Language
- EN
