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Understanding Capitalism: Competition, Command, and Change, Third Edition, is an introduction to economics that explains how capitalism.

Understanding Capitalism: Competition, Command, and Change

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Details if other :. Thanks for telling us about the problem. Return to Book Page. Preview — Understanding Capitalism by Samuel Bowles. Richard Cluff Edwards ,. Frank Roosevelt. Understanding Capitalism: Competition, Command, and Change, Third Edition, is an introduction to economics that explains how capitalism works, why it sometimes does not work as well as we would like it to, and how over time it not only changes but also revolutionizes the world around us. The "three-dimensional approach" of the text focuses on competition in markets; comma Understanding Capitalism: Competition, Command, and Change, Third Edition, is an introduction to economics that explains how capitalism works, why it sometimes does not work as well as we would like it to, and how over time it not only changes but also revolutionizes the world around us.

The "three-dimensional approach" of the text focuses on competition in markets; command in firms, governments, and international relations; and change as a permanent feature of a capitalist economy driven by technical innovation and conflict over the distribution of income. The book covers the standard topics of supply and demand, market competition, imperfect competition, aggregate demand, inflation, and unemployment.

It emphasizes the extraordinary dynamism and material productivity of the capitalist economy; the psychological foundations of human behavior; the logic and limitations of Adam Smith's invisible hand; technical change and the new information-based economy; global economic integration and its impact on national economies; the impact of economic activity on the environment; and inequality both within and among nations.

In addition, it provides a critical evaluation of the tenets of neoclassical economics, a clear introduction to contract theory, and material drawn from new research in behavioral, institutional, and information economics. Understanding Capitalism , Third Edition, is ideal for undergraduate courses in economics and political economy. An Instructor's Manual is available to adopters. FEATURES OF THE THIRD EDITION -Offers a new chapter on the behavioral foundations of economics, showing that the selfishness of the "economic man" leaves out the important role of other social motives and how individual tastes and values evolve in response to experiences -Includes a new chapter that examines how economic success and poverty are passed on from parents to children and also looks at the increasing inequality of income and wealth along lines of race and gender -Presents a completely revised and expanded treatment of the revolutionary changes that have been associated with capitalism over the past three centuries -Provides boxed treatments of issues that can serve as the basis of classroom discussions -Defines important terms in the margins throughout the text -Contains a section entitled "Sources of Economic Information" that helps readers locate relevant outside data, both in print and online Get A Copy.

Paperback , Third Edition , pages. More Details Original Title. Other Editions 6. Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Understanding Capitalism , please sign up. Be the first to ask a question about Understanding Capitalism. Lists with This Book. Community Reviews.

Showing Average rating 3. Rating details. More filters. Sort order. Jan 18, Brian Setzler rated it it was amazing. This is an economic text and my 5-star rating is based on that fact.

Having already studied Econ fairly extensively while earning a BA in business, this book opened my eyes to how our system actually functions. The book combines both micro and marco economics.

The Preface says "[This book] is an introduction to economics that explains how capitalism works, why it sometimes doesn't work as well as we'd like, This is an economic text and my 5-star rating is based on that fact. The Preface says "[This book] is an introduction to economics that explains how capitalism works, why it sometimes doesn't work as well as we'd like, and how over time it not only change its own functioning but also revolutionizes the world around us.

The book does not assume that the reader has any prior knowledge of economics. Given all that, I can safely say I know a bit about business and economics. This book taught me a ton I didn't know. I highly recommend this book. Jun 29, Amelia rated it liked it. Who likes economics textbooks? So this book made political economists out of a bunch of touchy, feely granola crunching environmentalists and social activists. If you ever find a reason to understand the science of economics and you give a shit about the consequences of economic policy on social justice and the environment- here you go.

Feb 26, George Malandrakis rated it it was amazing. Among the best books I've ever read. Though a significant part of it consists of detailed analysis of socioeconomical phenomena that any alert person with an average brain understands without having to read a book, it is quite different to see common sense and intuition supported by statistics, diagrams, real-life examples, and even mathematical formalizations, than mere arguments.

An equally significant part of the book analyses phenomena that require a basic comprehension of economics and perh Among the best books I've ever read. An equally significant part of the book analyses phenomena that require a basic comprehension of economics and perhaps some more technical knowledge, which makes this book even more worth reading.

The authors are rather objective, pointing out many of the weaknesses and problems of capitalism along with its' benefits, while other academics tend to stick more to the latter. If all voters had read this book our world would be a better place Jan 03, Mairh Kouloglou rated it really liked it.

A very good book for everyone who is new to economics and wants to understand the basics of how capitalism works as well as how the economy affects politics and society.

I thought it was surprisingly objective and unbiased even though it appears that it has been written by progressive, left-leaning authors. Kyle rated it liked it Oct 15, Laura Garcia-Martinez rated it really liked it Nov 29, Everaldo Silva rated it it was amazing Apr 06, Jeff rated it it was amazing Mar 05, Jen Burkhardt rated it really liked it Jan 07, Michael Nguyen rated it it was amazing Jun 02, Agnese Motta rated it liked it Aug 05, Kirk rated it did not like it Nov 03, Burcueminoglu rated it it was ok Nov 23, Andreas rated it really liked it Feb 05, Robin rated it really liked it Nov 07, Jason rated it really liked it Oct 09, Tracy Cardenas rated it liked it Dec 18, BLTN rated it really liked it Dec 16, Rawnak Mahjabib rated it it was amazing May 30, Dean rated it liked it May 24, Weikai rated it really liked it Oct 06, Jason Bailey rated it liked it Nov 13, Stephanie rated it really liked it Oct 08, Michael McIntyre rated it it was amazing Jun 06, Brian Haynes rated it really liked it Jun 16, Hafiz rated it really liked it Feb 17, Maja rated it really liked it Apr 03, Lauren rated it liked it Jul 20, L rated it liked it Dec 18, Stetson rated it liked it Nov 22, Readers also enjoyed.

About Samuel Bowles. Samuel Bowles. Librarian Note: There is more than one author by this name in the Goodreads data base. Books by Samuel Bowles. Related Articles. Discover lots of new and upcoming nonfiction reads this spring with our author interviews, articles, and book lists! Interviews with Read more Trivia About Understanding Cap

Understanding Capitalism: Competition, Command, and Change

Understanding Capitalism: Competition, Command, and Change , first published in but now in its fourth edition , is an introduction to economics that explains how capitalism works, why it sometimes fails, and how it undergoes and brings about change. It discusses both the conventional economic model and the role of power in economic interactions. Understanding Capitalism analyzes how profit-seeking is a source of competition among firms, conflict, and change. Each immediately became the leading textbook for introductory political economy courses with a Left orientation. The authors maintain their now familiar metaphor of 'three-dimensional' economics. The horizontal dimension is that of voluntary exchange, the site of competitive markets; the vertical dimension is that of command, the realm of power relations; and the third dimension of economic systems shifts the focus to dynamics, to how social systems change throughout time. Conventional introductions to economics narrowly confine themselves to the horizontal dimension [

Book Description Understanding Capitalism: Competition, Command, and Change, Third Edition, is an introduction to economics that explains how capitalism works, why it sometimes does not work as well as we would like it to, and how over time it not only changes but also revolutionizes the world around us. The "three-dimensional approach" of the text focuses on competition in markets; command in firms, governments, and international relations; and change as a permanent feature of a capitalist economy driven by technical innovation and conflict over the distribution of income. The book covers the standard topics of supply and demand, market competition, imperfect competition, aggregate demand, inflation, and unemployment. It emphasizes the extraordinary dynamism and material productivity of the capitalist economy; the psychological foundations of human behavior; the logic and limitations of Adam Smith's invisible hand; technical change and the new information-based economy; global economic integration and its impact on national economies; the impact of economic activity on the environment; and inequality both within and among nations. In addition, it provides a critical evaluation of the tenets of neoclassical economics, a clear introduction to contract theory, and material drawn from new research in behavioral, institutional, and information economics. Understanding Capitalism, Third Edition, is ideal for undergraduate courses in economics and political economy.

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