Fifty Economic Fallacies Exposed

The author; Foreword; Acknowledgements; Introduction; Regulation and markets; Ticket touts are harmful and wicked. They should be stamped out by law; The conduct of an industry -- in particular, how it serves consumers -- is improved by government regulation; The state should step in to protect the environment; Firms should not make profits; International trade and finance; One country should not cut its tariffs unless others do; Free trade should be fair; Free trade causes unemployment; A current account deficit is a problem; The country should be more competitive.;These lucid and stimulating articles are invaluable to students struggling to master some of the complexities of economic theory and its applications, who often find that the most effective way to learn economic analysis is to see such fallacies exposed. It is a text particularly suitable for first-year economic students, complementing existing textbooks as it does, and clarifying basic concepts in economics while demonstrating the practical uses of economic theory -- back cover.