{"product_id":"economics-in-two-one-lessons","title":"ECONOMICS IN TWO ONE LESSONS","description":"\u003cspan id=\"freeText14281811611794835765\"\u003e\u003cb\u003eA masterful introduction to the key ideas behind the successes--and failures--of free-market economics\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eSince 1946, Henry Hazlitt's bestselling\u003cspan\u003e \u003c\/span\u003e\u003ci\u003eEconomics in One Lesson\u003c\/i\u003e\u003cspan\u003e \u003c\/span\u003ehas popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain why markets often work so well, but it can't explain why they often fail so badly--or what we should do when they stumble. As Nobel Prize-winning economist Paul Samuelson quipped, \"When someone preaches 'Economics in one lesson, ' I advise: Go back for the second lesson.\" In\u003cspan\u003e \u003c\/span\u003e\u003ci\u003eEconomics in Two Lessons\u003c\/i\u003e, John Quiggin teaches both lessons, offering a masterful introduction to the key ideas behind the successes--and failures--of free markets.\u003cbr\u003e\u003cbr\u003e\u003ci\u003eEconomics in Two Lessons\u003c\/i\u003e\u003cspan\u003e \u003c\/span\u003eexplains why market prices often fail to reflect the full cost of our choices to society as a whole. For example, every time we drive a car, fly in a plane, or flick a light switch, we contribute to global warming. But, in the absence of a price on carbon emissions, the costs of our actions are borne by everyone else. In such cases, government action is needed to achieve better outcomes.\u003cbr\u003e\u003cbr\u003eTwo-lesson economics means giving up the dogmatism of laissez-faire as well as the reflexive assumption that any economic problem can be solved by government action, since the right answer often involves a mixture of market forces and government policy. But the payoff is huge: understanding how markets actually work--and what to do when they don't.\u003cbr\u003e\u003cbr\u003eBrilliantly accessible,\u003cspan\u003e \u003c\/span\u003e\u003ci\u003eEconomics in Two Lessons\u003c\/i\u003e\u003cspan\u003e \u003c\/span\u003eunlocks the essential issues at the heart of any economic question.\u003c\/span\u003e\u003cspan\u003e \u003c\/span\u003e","brand":"Penguin Random House","offers":[{"title":"Default Title","offer_id":32115492520002,"sku":"","price":699.0,"currency_code":"INR","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0263\/4884\/7170\/products\/193_9944e964-e094-466e-9c3e-c09e894fdf1e.jpg?v=1591709001","url":"https:\/\/koolskoolbookstore.com\/products\/economics-in-two-one-lessons","provider":"KoolSkool The Bookstore","version":"1.0","type":"link"}