A Corporate Welfare Economy
Although political rhetoric and public perception continue to assume that the United States is the very definition of a free market economy, a different system entirely has in actuality come to prominence over the past half century. This Corporate Welfare Economy (CWE) has come about as government come increasingly under the influence of corporate interests and lobbyists, with supposedly equalising factors such as regulation skewed in order to suit the interests of the privileged while an overwhelming majority of US citizens have experienced a decline in their standard of living. James Angresano examines the characteristics of this mode of capitalism, both from the theoretical point of view but also with key reference to the different sectors of the economy – trade, manufacturing, industry and defense among them.
About the Author
James Angresano is a retired professor of economics. He has taught and done research at colleges and universities in the United States and throughout Europe, China, and Egypt.
Out of stock
The third edition of this bestseller provides students with an in-depth understanding of basic microeconomics and macroeconomic concepts. This revised edition includes new subtopics such as Economic Growth, The Islamic Economy, Keynesian and Classical Demand for Money Market Equilibrium. In addition, authentic case studies have been provided for critical chapters. This edition has been revised thoroughly with new exercises at the end of every chapter.
Retaining the student-friendly approach of previous editions, Introduction to Econometrics, Fourth Edition, uses clear and simple mathematics notation and step-by step explanations of mathematical proofs to help students thoroughly grasp the subject. Extensive practical exercises throughout–including fifty exercises on the same dataset–build students’ confidence and provide them with hands-on practice in applying techniques.
NEW TO THE FOURTH EDITION:
* An expanded review section at the beginning of the book offers a more comprehensive guide to all of the statistical concepts needed to study econometrics
* Additional exercises provide students with even more opportunities to put theory into practice
* More Monte Carlo simulations help students use visualization to understand the math
* New final sections at the end of each chapter contain summaries and non-technical introductions to more advanced topics
An updated and expanded Companion Website contains resources for students and instructors:
* Data sets
* Gretl, a free econometrics software application
* PowerPoint-based slides with explanations
* A study guide
* Instructor manuals for the text and data sets that detail the exercises and their solutions
* PowerPoint-based slides
* A “Contact the Author” link
About the Author
Jeffrey M. Wooldridge is a University Distinguished Professor of Economics at Michigan State University, where he has taught since 1991. From 1986 to 1991, he served as Assistant Professor of Economics at the Massachusetts Institute of Technology. Dr. Wooldridge has published more than three dozen articles in internationally recognized journals, as well as several book chapters. He is also the author of ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA. His work has earned numerous awards, including the Alfred P. Sloan Research Fellowship, the Multa Scripsit award from Econometric Theory, the Sir Richard Stone prize from the Journal of Applied Econometrics, and three graduate teacher-of-the-year awards from MIT. A fellow of the Econometric Society and of the Journal of Econometrics, Dr. Wooldridge has been editor of the Journal of Business and Economic Statistics and econometrics co-editor of Economics Letters. He has also served on the editorial boards of the Journal of Econometrics and the Review of Economics and Statistics. Dr. Wooldridge received his B.A. with majors in computer science and economics from the University of California, Berkeley, and received his Ph.D. in economics from the University of California, San Diego.
About the Author
Mark P. Taylor is Professor of Economics at the University of Warwick. He obtained his first degree in philosophy, politics and economics from Oxford University. He then worked as a foreign exchange dealer in London for two years while simultaneously studying part-time for a master’s degree in economics at London University, from where he also holds a doctorate in economics. Professor Taylor has taught economics at various universities (including Warwick, Oxford, Marseille and New York), at various levels (from principles courses to advanced graduate and MBA courses) and in various fields (including macroeconomics, microeconomics and econometrics). He also worked for several years as a senior economist at the International Monetary Fund and before that at the Bank of England. His work has been extensively published in scholarly journals, such as the Journal of Political Economy and the Economic Journal, and he is today one of the most highly cited economists in the world in economic research. In addition, Professor Taylor has acted as an advisor to the International Monetary Fund, the World Bank, the Bank of England, the European Commission and to senior members of the UK government. He is a research fellow of the Centre for Economic Policy Research, a member of council of the Royal Economic Society, and a fellow of both the Royal Statistical Society and the Royal Society of Arts. Professor Taylor lives (with his wife and three children and his three dogs named Byron, Shelley and Aphra) near Kenilworth, Warwickshire (where he collects clocks and keeps bees). N. Gregory Mankiw is Robert M. Beren Professor of Economics and Chair of the Department of Economics at Harvard University. He studied economics at Princeton University and MIT. He has taught macroeconomics, microeconomics, statistics, and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals such as the AMERICAN ECONOMIC REVIEW, JOURNAL OF POLITICAL ECONOMY, and QUARTERLY JOURNAL OF ECONOMICS and in more widely accessible forums including THE NEW YORK TIMES, THE WASHINGTON POST, THE WALL STREET JOURNAL, and FORTUNE. In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President’s Council of Economic Advisers. In addition, he maintains a very popular blog for students of economics at http://www.gregmankiw.blogspot.com.