{"product_id":"2940169552256","title":"Economics in Two Lessons: Why Markets Work so Well, and Why They Can Fail So Badly","description":"\u003cp\u003e\u003cb\u003eA masterful introduction to the key ideas behind the successesamp;mdash;and failuresamp;mdash;of free-market economics\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003eSince 1946, Henry Hazlitt's bestselling \u003ci\u003eEconomics in One Lesson\u003c\/i\u003e has 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 badlyamp;mdash;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 \u003ci\u003eEconomics in Two Lessons\u003c\/i\u003e, John Quiggin teaches both lessons, offering a masterful introduction to the key ideas behind the successesamp;mdash;and failuresamp;mdash;of free markets.\u003c\/p\u003e\u003cp\u003e\u003ci\u003eEconomics in Two Lessons\u003c\/i\u003e explains 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.\u003c\/p\u003e\u003cp\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 workamp;mdash;and what to do when they don't.\u003c\/p\u003e\u003cp\u003eBrilliantly accessible, \u003ci\u003eEconomics in Two Lessons\u003c\/i\u003e unlocks the essential issues at the heart of any economic question.\u003c\/p\u003e","brand":"Blackstone Audio, Inc.","offers":[{"title":"Default Title","offer_id":47101976707312,"sku":"2940169552256","price":22.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/2940169552256_p0.jpg?v=1769896350","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/2940169552256","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}