Understandable Economics

Preface
Introduction to the Updated Edition

PART I: THE ECONOMIC SYSTEM
1 Capitalism: What Gets Made, and Who Gets What?
2 The Changing Economy: Why Are Some People Losing Faith in Our Economic System?
3 Money: What Do Gold, Dollars, and Cryptocurrencies Have in Common?

PART II: PEOPLE
4 Spending, Production, and Income: How Big Is Our Economy, and Why Does It Matter?
5 Work Income, Investment Income, and Wealth: How Is Income Divided between Labor and Capital?
6 The (Mostly) Open Economy: What Are the Consequences of International Trade?

PART III: BUSINESS
7 The Private Sector and the Stock Market: How Is Business Organized, Owned, and Valued?
8 Corporate Behavior: What Drives Corporations, and How Can They Be Influenced?
9 Business Consolidation and Reduced Competition: Why Are More Industries Being Dominated by Fewer Companies?

PART IV: THE ECONOMIC CYCLE
10 Boom and Bust: Must What Goes Up Come Down?
11 The Federal Reserve System and Banking: What Is the Fed’s Role, and How Is New Money Created?
12 Monetary Policy: How Does the Fed Fight Economic Downturns?
13 Fiscal Policy: How Can Government Spending and Tax Policies Fight Downturns?

PART V: THE GOVERNMENT
14 The National Debt: What Is the Cost of the Government’s Unbalanced Budget?
15 Government Policy and Earnings: How Can Our Economy Become More Equitable and Productive?
16 Taxes, Spending, and Income Distribution: What Is the Government’s Role in the Distribution of Income?

Epilogue
Notes
Acknowledgments
Index