The Economics Book
139 The village blacksmith held an important place in the community, according to Max Weber, because he dealt frequently with ma ...
140 THE POOR ARE UNLUCKY, NOT BAD THE POVERTY PROBLEM I n high-income countries governments often account for 30–50 percent of s ...
141 These unsanitary living conditions of the poor in London, as depicted by Gustave Doré in 1872, afflicted most of the cities ...
SOCIALISM IS THE ABOLITION OF RATIONAL ECONOMY CENTRAL PLANNING ...
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144 T he German philosopher Karl Marx described socialist economic organization in his great work Capital in 1867 (pp.100–05). A ...
145 Boris Kustodiev’s The Bolshevik reflected the idealistic policies of the Russian Revolution. Within four years they had flou ...
146 for the internal workings of a factory. Von Mises considered alternatives to money, such as Marx’s idea of valuing products ...
147 Socialist economies saw themselves as vast production lines, assembling everything the economy needed. During World War II t ...
148 W hen a recession bites and companies and jobs start to disappear, there is often a demand for government intervention to co ...
149 Apple’s iPhone was introduced by visionary entrepreneur Steve Jobs. It was an industry “game changer,” forcing competitors t ...
WA R AND DEPRESS 19 2 9 –19 4 5 ...
IONS ...
152 I n the years following World War I confidence in traditional economic thinking was put to the test by events in Europe and ...
153 President Franklin D. Roosevelt to kick-start the US economy with the stimulus policies known as the New Deal. Government mo ...
UNEMPLOYMENT IS NOT A CHOICE DEPRESSIONS AND UNEMPLOYMENT ...
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156 I n 1936, John Maynard Keynes published his groundbreaking work The General Theory of Employment, Interest, and Prices, ofte ...
157 For a century prior to the publication of The General Theory, poverty, rather than unemployment, was the enduring problem. U ...
158 DEPRESSIONS AND UNEMPLOYMENT to suggest that Keynes originally had some sympathy with this view. In A Treatise on Money (193 ...
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