Macroeconomics

This book is a masterpiece. In practice, it deserves to become the "Holy Bible" of Microeconometrics applied to (but not only to) Development Economics. It is beautifully written by an amazingly knowledgeble economist, who has actually worked for years (and still does) on most of the issues this book deals with. It is no easy reading, and it would be worth spending a day for every single page, but it's excellent even if you don't want to go through the details, and you just need an intuition about the issues covered. The first chapter introduces the reader to many important aspects of the contruction and use of household surveys. The second chapter masterfully reviews many concepts of applied econometrics. Chapter 3 is about poverty and inequality measurement. Chapter 4 is about "Nutrition, children, and intrahousehold allocation", Chapter 5 deals with prices and tax reforms, and Chapter 6 with saving and consumption smoothing. The book also contains many useful Stata codes the author wrote and used for his many papers. Again, this is not a trivial reading, but if you are interested in applied economics you will find reading this book extremely rewarding, and often almost entertaining, because Deaton is one of the very few economists around able to write about technical stuff in a brilliant and intuitive way.

It is a great book, and I would have not canceled the order if you would have shipped as your website said it would.

This book is a masterpiece. In practice, it deserves to become the "Holy Bible" of Microeconometrics applied to (but not only to) Development Economics. It is beautifully written by an amazingly knowledgeble economist, who has actually worked for years (and still does) on most of the issues this book deals with. It is no easy reading, and it would be worth spending a day for every single page, but it's excellent even if you don't want to go through the details, and you just need an intuition about the issues covered. The first chapter introduces the reader to many important aspects of the contruction and use of household surveys. The second chapter masterfully reviews many concepts of applied econometrics. Chapter 3 is about poverty and inequality measurement. Chapter 4 is about "Nutrition, children, and intrahousehold allocation", Chapter 5 deals with prices and tax reforms, and Chapter 6 with saving and consumption smoothing. The book also contains many useful Stata codes the author wrote and used for his many papers. Again, this is not a trivial reading, but if you are interested in applied economics you will find reading this book extremely rewarding, and often almost entertaining, because Deaton is one of the very few economists around able to write about technical stuff in a brilliant and intuitive way.

The reason that this book should rank as one of the most important books that is seldom heard of and rarely read, is simple. Its predictions turned out to be devastatingly accurate within no time at all. Christopher Lingle, while a senior fellow at the National University of Singapore, wrote an article in the International Herald Tribune, which angered the Singaporean government. Faced with the threat of imprisonment, Lingle fled the country and began working on this book in the USA. The book was published in 1997 - one year before the catastrophic collapse of the East Asian economies.

Lingle talks about the mountains of literature being churned out in praise of the 'Asian miracle' and the phenomenal economic progress of the Asian and other Asia-Pacific nations, which displayed double-digit growth rates through most of the 80s and 90s. The author contends that the highest-growth industry seems to be the one publishing books about the 'Asian century'.

Lingle attributes the over-enthusiastic optimism for Asia's 'miracle economies' to the classic faux pas of extrapolating short-term observations. While no one can deny the fact that there has been rapid growth of these economies, he points out that, historically, several regimes with fundamentally flawed institutional arrangements have produced relatively long periods of high growth. Spain under Franco in the 50s and 60s, apartheid South Africa, Soviet Russia and even communist North Korea have all shown periods of sustained economic 'progress' until their inherent weaknesses led to an inevitable collapse.

The inherent contradiction is that true economic advance is a direct function of the human spirit and entrepreneurship, both of which are repressed under regimes, which practice collectivist repression in order to maintain the single-party political status quo. The capitalistic tenets of contract law and property rights are fundamentally individualistic in nature and fly in the face of the policies of East Asian regimes.

Lingle takes the bull by the horns in analyzing how the world reached the consensus that indeed the economies of East Asia were 'miracle' economies. It all began when the Japanese Ministry of International Trade and Industry (MITI) buoyed by the success of the Japanese model at the time decided that it was time for some economic evangelism. The extensively bureaucratic and interventionist model championed by the Japanese was at sharp odds with the World Bank endorsed neo-classical view.

In order to showcase their approach as a theoretical model, which could be successfully adopted by other countries in the region, the Japanese government commissioned the World Bank to produce a report that was published in 1993 under the title 'The East Asian Miracle.' So what were the conclusions of this (at the time, enshrined in economic folklore) report? The most important conclusions of this report were that the 'miraculous' growth experienced by the region was a result of macroeconomic stability achieved by pursuance of prudent fiscal and monetary policy. Much to the liking of its Japanese masters, the report admitted that the large-scale market interventions carried out by these governments had contributed to the 'miracle'

Lingle talks about Max Weber's nineteenth century view that Confucianism would retard the modernization of Asia and how that particular contention seemed to be far from the truth when the Asian ascent began in the 1970s. It soon became widely accepted that neo-Confucianism was a source of East Asian dynamism. This neo-Confucianism, created by selective picking and choosing of tenets from the original belief system and transforming them into a distinct political ideology, justifies the pre-eminence of the rights of the community over the rights of the individual. The 'virtuous rulers' theory, (rather than the choice of the citizenry) advocated by neo-Confucians fitted perfectly in the scheme of things for authoritarian patriarchal governments.

Thus extensive market interventions, rejection of the notion of the self-regulating economy and the ability to enforce stability, resulted in the creation of the myth that East Asia's dynamic yet traditional rulers were responsible for the great ascendancy to economic power. This neo-Confucian inspired set of Asian values is championed by what it commonly called the 'Singapore School', which aggressively promotes its own model of development as uniquely Asian, indisputably successful and easily transplantable.

The distinctive neo-Confucian concepts of 'filial piety' and subservience to authority eatly lend themselves to the one-party authoritarian style of rule of leaders like Lee Kuan Yew of Singapore and Mahathir Mohamad of Malaysia. The venerated Confucian tradition of strong family bonds, in a modern context translates into what Lingle calls 'dynastic succession and an entrenched policy of nepotism.'

Examples of course, are numerous. From Sukarno and Suharto in Indonesia to the Gandhis and Bandaranaikes in India and Sri Lanka respectively; from the Korean Kims and Cambodian royalty to the Marcoses and the Acquinos of the Philippines, Asia has a long 'tradition' of dynastic democracies. Lingle points out that such nepotism is in direct conflict with modernizing forces such as marketization. They seem to be more compatible with imperial colonialism than modern democracy.

Lingle has again written a book far more valuable than its price.For those interested in Asia,and the econo-politics of the region, this is a must for any library, private or public. It is easily readable even for those not initiated in the arcane language of economics. His initial beliefs were manifested in the last year and a half.

This book was written before the Asian Financial crisis hit in late 97. It basically high lights why the author thinks there will be no Asian Century and instead there will be a Global Century. Lingle believes that the Asia dragons will not be as strong as everyone thinks for the following reasons: There is no free press in all these countries so the same party stays in power; All the countries have basically a one party system. This promotes corruption; there is a lack of transparency in all the banking systems. This leads to insolvency; business decisions are made not based on marketing forces but based on connection; the cost of business includes bribes; and finally since the governments are so involved in their economies, they cannot react quickly enough to changes which take placein the market place. This will not be acceptable in the highly global competitive world of the next century.

Right now based on what we are seeing through out all of Asia, Lingle appears to have known what he was writing about. He called the crisis before it hit. Based on his insightful analysis he shows us that he knows more about Asia than all these other so called Asian experts who were straight lining the Asian miricle into the next century right up to the day before the Asian Crisis hit.

Holly Sklar always does such a complete job with her subjects. She is incredibly clear and focused. I tend to read quite a bit of this type of literature and many times it can a bit like. . . Rant over here . . . Then Rant over there, without reaching a logical conclusion. Holly Sklar has never suffered from that. This book is very very very well researched. It should be read with the idea that the title has in mind. We really do have a choice to make in this country. Let's make the decision from a point of knowledge. Bravo Holly.

I heard the author speak on PBS radio and then read the book. Sklar explains how and why we Americans are working harder than ever today, but seem to get "nowhere." I think every business owner, politician, teacher, and parent should read this book to better understand how we can help one another in this country and the world!

Important, a compendium of shocking statistics and stories about the sorry state of the state. Most depressing, but most enlightening. Occasionally bogs down in statistics, and perhaps too many tables,though it's always nice to have these for reference. Much to be learned here. I plan to reread this one again soon. Alan Nicoll

Free thinking economists such as Mr Chossudovsky are few and far between. Please take the time to read about the reality of what we have been lured into.

These are some wonderful thougts that have stimulated my mind into asking the question "CanAfricansThink?".This book exposes the disguise of mainstream economics which leaves human society's precious values at the hands of economic lust.All Africans need to know about this big con job being operated under the disguise of macro economics.

Looking at case studies from around the developing world, backed up with a strong theoretical analysis of the IMF and World Bank's role in the international economy, the globalisation of poverty brings the reader to one stark conclusion: 'Poverty is an input on the supply side, (of the global economy.)' Particularly interesting is Chossudovsky's explanation of the economic 'miracle' of Vietnam, while his analysis of the Yugoslav disaster, co-sponsored by the IMF and international financial investors, is very timely indeed. As Chossudovsky explains, the IMF and World Bank reforms have not merely suppressed populist and socialist economic measures and achievements; they have also prevented the development of national capitalisms, by creating economies directed towards the needs of the capitalist core states, rather than to the national market. For those harbouring any illusions about the economic order which governs humanity at the end of this century, this book is a necessary read. It's a pity that Chossudovsky works at the University of Ottawa and not the LSE, an institution that definitely needs realistic economists like him.

Gregory Mankiw's book is the best source I found for understanding Macroeconomics. He uses the Solow model for the long run, and then moves on to neo-Keynesian models for the short run. Its style is simple, direct, and conversational. The case studies, the examples, the stories and the graphics are extremely useful and even fun to read. If you feel afraid or lazy about Macroeconomics, this is the best book you'll find. You will end up actually liking the subject, a very important one to understand not only if you want to be an economist, but also if you want to understand the most important events going on in the world.

This is easily one of the best textbooks I have ever read. Uncluttered and elegant, it keeps you focused on what's important. The long run macro section is simply unsurpassed, and a pleasure to read. However, the book's exceptional clarity also has the (perhaps intended) effect of exposing the weaknesses of Keynesian short run macroeconomics which is what is taught to most undergraduates, and which is what is covered in this book. Teaching Keynesian macroeconomics to undergraduates, especially at the level that it is usually taught (mindless, unintuitive curve pushing) is unpardonable. I think a better approach to short run macro would be the less popular, slightly harder, but in the end clearer and more accurate market-clearing approach of Barro's "Macroeconomics". That said, let me repeat again that Mankiw is a FABULOUS book, and quite simply the best book for the standard material covered in most undergraduate macroeconomics classes.

The text is excellent and is suitable for any type of introductary Ecnonomics class. It can be used in a tough course or an easy course, as it provides a great level of organization so that the instructor may choose the material at his discretion depending on his course lay out.

I see many pleas among the reviews of this book for a reprint. This book was originally published in New Zealand under the title "Counting for Nothing: What Men Value and What Women Are Worth". When the book was published in North America this title was deemed too controversial and was changed to "If Women Counted". Time has passed, but the book is still available under its original title. I heard Marilyn Waring speak last night. She's an amazing woman and is doing incredible work researching and promoting the New Feminist Economics.

For those of you who are interested, Marilyn Waring's thoughts on politics, environment etc. are available on video. I have a series on three video cassettes, available from the Canadian National Film Board. The NFB can be found on the internet, if you want to know more... Perhaps it is available in the States. It is a good introductory series for schools, businesses...The video series consist of selected excerpts from the book. I am not sure how it compares to the book, but her wit, humor, eloquence are amply evident on film.

I was dismayed to see this book is out of print. I have colleagues acting as consultants in the development cooperation business to whom I wished to give a copy!!! This is a seminal book moving toward changing the way we count and value things in Western economies.

Very fast transaction. Happy with the transaction

"Increasing demand leads to rising interest rates which leads to reduced investment spending and appreciating currency exchange rates..." The authors of "Macroeconomics" effortlessly provide the economic reasoning that underlie events like these such that they really make common sense - and without the need for rote memorization on the part of the reader. A previous reviewer from Los Angeles did an excellent job in praising Baumol and Blinder for their clear and concise teaching, and I strongly agree with his comments. Instead of going into abstract theories and ideas, Baumol and Blinder focus on making the reader understand the "real world" implications of macroeconomics. For example, each chapter in their book introduces a different contemporary economic issue as a way to illustrate the ideas being described in the text. Additionally, the authors outlined eight take-home messages that they believe the reader should remember after finishing the book. Although the authors label these take-home messages as "Ideas for Beyond the Final Exam", these ideas are equally relevant for student and non-student alike.

It should be kept in mind that the eighth edition of this textbook was published in 1999, so most of the "contemporary" issues that are discussed within are now out of date. In one chapter, for example, the authors' upbeat commentary on America's 1998 budget surplus seems sadly ironic considering the large budget deficit that we are currently dealing with in financing the War on Terror in 2003. Additionally, I thought many of the examples in the book were a bit "pro-Clinton", and depending on one's own political orientation, that may or may not be welcome. I have not looked at the ninth (and latest) edition of "Macroeconomics", but assuming that the fundamental principles remain the same, I would encourage the reader to pick up that copy in order to have a more current and up-to-date illustration of ideas.

Readers looking for mathematical models and equations to play with will be sorely disappointed, as the only foray into mathematical analysis involves deriving the demand-side equilibrium condition of the Keynesian economic model (a simple algebraic equation). But considering that the slant of this book is towards "real world" understanding, I think the authors were probably justified in keeping the mathematical equations to a minimum.

All in all, I think "Macroeconomics" by Baumol and Blinder would be an excellent introduction for the economically-illiterate person (as I was before reading this book). Although many of the examples in the eighth edition are a bit out of date, it is true that the fundamental economic principles that are discussed endure throughout all of the editions of this textbook.

this is a good straight forward text that does not get bogged down in the unecessary details for an introduction to the subject. It is simplified, and straightforward, while trying to be enjoyable reading.

Thank you.
This seller was very fast as far as delivery and the book was in great condition.

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The authors provide an understandable presentation of the dynamics of demand/supply, the price structure, equilibrium and concepts of elasticity. The data employed is current & this version is supported by the publisher in various prior versions , as well as, this successive version. The work has considerable technological support in the form of the CD Rom and various instructional materials.The authors provide a useful "News Analysis" to integrate current events into the text. This is very useful in providing background information for students. The problem sets are topical and challenging. There is a considerable discussion of international economics and transitional economies. Overall, the text can satisfy a wide range of student interests. i.e. Those students having a quantitative orientation will appreciate the considerable graphs throughout the text. Students having a more visual learning experience will enjoy the various news items throughout the text & the extensive discussion of basic definitions. The chapter summaries and WEB exercises are helpful in integrating the material & applying the various concepts using current technologies. This text should be employed for intensive renditions of introductory economics at the collegiate level.There is an appropriate amount of microeconomic coverage in the Principles of Macroeconomics, as well as, the more comprehensive Principles of Economics work. After having read this book, students should have a firm grasp of economics and the various data employed by industry. In addition, students will become more knowledgable on current events applicable to studies in this field. This work would provide very helpful background for further studies in Price Analysis and Econometrics (Mathematical Economics).

Petzinger's examination of the airline industry is must reading for anyone with an interest in that industry, and probably should be required reading for airline executives. The book essentially recounts the history of the airlines, but it also very much focuses a magnifying glass on many of the players in this industry.

But its more than a textbook history, it provides intimate details on the men who run the airlines and provides a great contrast of the various individuals' management styles.

I was enthralled by the history of Texas International and Eastern Airlines, in particular, and the recounting of the fall of Frank Lorenzo, a man so reviled that the mechanics union was willing to kill the airline just to defeat him.

While the book has been criticized by some for a perceived focus on airlines based in Texas, the fact of the matter is that even today three of the biggest players in the industry are based in Texas: American, Continental, and Southwest. And since they are three of the current survivors, and still three of the major players, the recounting of their histories is probably even more relevant.

The only suggestion I might have is that Petzinger update his book in light of airline history since his book was published.

because I would love to go through the experience of reading it for the first time again.
I work in the Airline Industry in Australia in an operational role that has aspects of Industrial Relations associated with it. To read a book that relates so many interesting and insightful stories into the trials and tribulations of De-reg in the US and the power plays between the various airlines and the Unions was nothing but fascinating.
Well researched, well written and very enjoyable. I recomend it to anyone employed or aspiring to airline management

Mr. Petzinger makes a very confusing, controversial, and always timely subject very accessible. As the son of a long-time manager in the airline industry, I was able to track events from my childhood by different labor strikes, airline births and deaths. The attention to the founding of the industry and the always unique position held by the airlines in making America what she currently is is exceptional.

Finally, an Austrian School based model of the macroeconomy. Time and Money pulls free market theory together to show that capitol drives the economy and not government, as mainstream economic theories would lead us. Powerful yet easy to read and understand. Well worth your time and money.

For anyone interesting in Austrian macroeconomic theory, this is the book for you. (...)

Perhaps textbook writers will now incorporate capital-based macro in their products. This book makes a convincing case for integrating capital-based macro into mainstream again.