Concise encyclopedia of economics

In The Concise Encyclopedia of Economics, editor David R. Henderson has gathered one hundred sixty-eight articles that clearly discuss topics of interest and relevance to people's daily lives. This accessible volume presents work by many of the best minds in the field of economics today, from Nobel Prize-winners to financial columnists to former presidential economic advisors. In each case, the authors make a well-reasoned. understandable presentation of even the most complex information. In the editor's own words:

The goal is to communicate just how much economic analysis can teach us about the important issues we face as voters, as consumers, as employees, and as people who care about the world. As such, the encyclopedia gives a comprehensive yet readable and engaging survey of mainstream economic thought.

It is common knowledge that there are many disagreements among economists about macroeconomic topics, including for example inflation, unemployment, and economic growth, and that the various "schools" of economists often see things very differently. As Henderson points out, however, even in macroeconomics, there is more agreement than is commonly thought. Moreover, the majority of economic questions and issues lie in the realm of microeconomics, and there the vast majority of economists are in agreement, concerning such topics as rent controls, minimum wages, and the need to reduce pollution.

The Concise Encyclopedia of Economics provides a spectrum of thought from a variety of schools, illuminating both how and where economists disagree and where there is convergence of opinion among the experts. In addition to the articles, there are biographies of ninety-nine noted economists, such as Alchian, Bastiat, Friedman, Hayek, Keynes, Mises, Ricardo, and Adam Smith.