Frank Roosevelt

Understanding Capitalism, 3/e, provides an introduction to economics with extensive attention to the global economy, inequality, the information revolution, the exercise of power, and the historical evolution of economic institutions and individual preferences. Its 'three dimensional approach' focuses on competition in markets, command in firms, governments and international relations, and change as a permanent feature of a capitalist economy promoted by technical innovation and conflict over the distribution of income.

Features

• Covers standard material from both micro and macro, as well as extensive historical and institutional analysis drawing on anthropology, political science and sociology.
• The third edition is entirely rewritten with four new chapters on the long-term history of capitalism, the evolution of preferences and values, inequality, and the future of capitalism.
• The 'three dimensions of economic life' -- competition, command, change -- provide a unifying framework encompassing recent developments in behavioral economics, information economics, increasing returns, and institutional economics.

About the Authors

Samuel Bowles is Research Professor at the Santa Fe Institute, U.S.A., and Professor of Economics at the University of Siena, Italy.

Richard Edwards is Professor of Economics at the University of Nebraska-Lincoln.

Frank Roosevelt is Professor of Economics at Sarah Lawrence College.


Available from Oxford University Press and Amazon.com