• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Political Economy of Violence
Political economy of violence

Long-term economic prosperity requires the existence of secure property rights. A resource, in the possession of an individual, can be characterized as secure property if that individual can exclude others from exploiting its use. So, as the fundamental instrument of exclusion, who should have recourse to violence? In a world where violence is a recognized margin of competitive adjustment available to all community members, a world of unorganized violence, an individual's exclusive right to use a resource is determined in large part by his or her ability to use naked violence to protect that resource from others. This fact creates an incentive for all community members to allocate scarce effort away from production and toward protection and/or predating ...

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