Naked Economics: Undressing the Dismal Science pdfdrive com

Forbes, 251
Ford Explorer, 57–58, 62, 64, 65
foreclosures, 210, 215
Foreign Affairs, 285
foreign aid, 322–24
foreign exchange markets, 260–61
Fossey, Dian, 33
401(k) plans, 176, 178–79
France, xix, 81, 106, 218, 275, 306, 327
Frank, Robert, 62, 63, 149–50
Frankel, Jeffrey, 314
free markets, xxii, 150, 323
free riders, 32, 75–77
Friedman, Milton, xviii, xxii, 91, 94, 187
Friedman, Thomas, xx, 74, 280, 292, 305
Fryer, Roland, 38
Fukuyama, Francis, 333
funny money, 265
future, seven questions about, 325–35
Future Perfect, A (Micklethwait and Wooldridge), 294, 300–301
futures, 263
futures contracts, 155, 160, 163
Gandhi, Mohandas K., 291

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Gandhi, Mohandas K., 291
Gap, market power of, 18
Garvey, Jane, 39
Gary, Ind., rusting steel plants of, 50
gasoline tax, 53, 54, 63–65
Gates, Bill, 6, 35, 132, 133, 146, 149, 150–51, 320
Gaza, sanctions imposed on, 287
GDP, see gross domestic product Geithner, Timothy, 211–12
Gelabuzi, Esther, 157
General Accounting Office, 185
General Agreement on Tariffs and Trade (GATT), 288–89
General Motors, 118, 147
generic drugs, 70
genetic information, 120–21
Genoa, 289, 294
genome, human, 145
geography, income distribution and, 311–13
German Democratic Republic (East Germany), 3–4, 36, 265–66
Germany, 250, 268
recession and, 212
Germany, Nazi, 94
Germany, Weimar Republic of, 238–39, 243
Ghana, 310
Gini index, 218
Giuliani, Rudy, 209
globalization, 8, 51, 148, 277–301
barriers to, 300
benefits of, 280–82
cheap labor and, 288–89, 296–97
ill effects of, 292, 293–94
“New Deal” for, 286
political freedom and, 292
protests against, xix, 25, 183, 193, 276, 287, 289, 293–94
technology and, xx
see also trade
“Global New Deal,” 289
global warming, 57, 61, 64, 67–68, 297, 328
Golden State Warriors, 132–33
Goldin, Claudia, xxii–xxiii
Goldman Sachs, 169
Goldsmith, Stephen, 136
gold standard, 236, 261–62
“good citizenship” requirements, 94
goods:
nontradable, 255–56
public, 75–77, 83
tradable, 255–56
Gordon, Robert, 142–43
Gore, Al, 19
gorillas, mountain, 33–34

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Gorillas in the Mist (Fossey), 33
Gosling, Ryan, 13–14
government, governance:
authoritarian, 333–34
bailouts made by, 51, 165, 211–13, 246
“Chicago school” economists’ view of, 190
corruption and, 33, 95
development outcomes linked to, 306
economic tools of, see fiscal policy; monetary policy effective institutions needed in, 304–6
externalities and, 59–68, 83, 105
framework for thinking about economic role of, 104–7
importance and sophistication of, 82
importance of incentives ignored by, 36
inefficiency of enterprise owned by, 36
in international economics, 258–61
liberty and, 29
market role of, 29, 57–82, 83–107
monopolies run by, 84–85
poverty caused by failures of, 68–69
private sector used by, 86–87
regulatory and oversight role of, 72–73
research conducted by, 76
resource allocation by, xvii, 88–90
size of, 218–19
spending, 272
subsidies, 183–88
Government Accountability Office, 185
“grabbing hand” vs. “helping hand,” 95
grapefruit and ice cream diet, 154
Great Britain, 219, 250–52, 259–60, 291, 306, 313
Great Depression, 199, 219, 224, 247, 249, 261
Great Leap Forward, 318
Great Recession, see recessions, of 2007
greed, 46
greenhouse gases, 57, 60, 67–68, 185
Greenspan, Alan:
Fed role of, 226, 233, 234, 244, 331
on information technology, 142
“green taxes,” 53, 328
gross domestic product (GDP), 268, 276, 279, 291, 302, 309, 316, 317, 322
alternatives to, 206–7
definition and function of, 141, 200–205
environmental issues and, 204
government spending and, 218
in Great Depression, 224
inflation and, 242
and leisure, 205
limitations of, 203–4
negative growth in, 207–8
per capita, 200

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and quality of life, 207
real vs. nominal, 200
unemployment rate and, 217
of U.S., 141, 201–2, 212, 216, 217, 229
Gruber, Jonathan, 27
guilder, Dutch, 317
Hall, James, 39
Hamas, 287
Hamilton Project, 189
Hansen’s disease (leprosy), 203
Hanushek, Eric, 128
happiness, measuring of, 205–6, 223
Harkin, Tom, 297
Harvard Center for International Development, 323–24
Harvard University, 126–27, 158, 177–78
Hattiesburg, Miss., 8
health care, 30, 106, 309
cost of, 114–15
in India, 203
information and, 113–17
health insurance, 60
cost justification and, xxi–xxii genetic information and, 120–21
information and, 114–22
as not provided by market, 21
personal mandate in, 121
private vs. government-financed, 122
women’s post-delivery hospital stays and, xxi health maintenance organizations (HMOs), 115
hedge funds, 44
“helping hand” vs. “grabbing hand,” 95
Hennessey, Keith, 246n
high school dropouts, 134, 135
Hindustan Fertilizer Corporation, 36
Hitler, Adolf, 94
Hollywood, box office figures of, 239
homelessness, 6, 55, 326–27
homes, shopping for, 166–68
Honda Civic, 57, 58
Hong Kong, 291, 304, 311
Hooters, 293, 295
Hoover, Herbert, 219
Hope Scholarships, 108–9, 113, 117
hospitals, women’s post-delivery stays in, xxi “hot hand,” 28
“hot stocks,” 168
housing bubble, xxiii, 172, 180, 210
Hughes Electronics, 136
human capital, 131–53, 165, 215, 290, 321
cycles created by, 140
definition of, 132
economic growth and, 309–11
entrepreneurial flair and, 135–36

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entrepreneurial flair and, 135–36
importance of, 138–40
income gap and, 146–47
investing in, 133–34
productivity and, 140–41, 144, 309
public policy and, 145, 152
work experience and, 152
Human Development Index (HDI), UN, 205, 267, 292
human genome, 145
Hummers, 63, 64
hunger, 304, 318
Huntington’s disease, 120
hurricanes, 161
Hussein, Saddam, 134
hyperinflation, 239, 264
Iceland, 266
currency crisis in, 267–68
Illinois, 89, 94, 128, 184, 190
Illinois Cosmetology Association, 94
Illinois Fifth Congressional District, 195
illiquid assets, 248–49
illiquid investments, 178
illiteracy, 134
IMF (International Monetary Fund), 44, 156, 265, 275–76
immigration, 134, 137, 228
imports, 258–59, 272
incentives, 4, 31–56, 148, 152, 324, 328
to avoid taxed activities, 51–54, 63
creative destruction and, 48–49
envy as, 149
externalities and, 58, 64
under “fee for service” health system, 114
misaligned, 44–45
patents as, 16, 70–71
“perverse,” 38
poaching and, 31–35
policymakers’ ignoring of, 36
principal-agent problems and, 41–43
right approach to, 45–48
teachers’ pay and, 37–38
unintended consequences and, 38–40
income:
education levels and, 147
forced job change and, 136–37
per capita, 106, 320
income distribution, 78, 83, 105–6, 205, 286, 311–13
income inequality, 132, 146–47, 327–28
as economic indicator, 218
globalization and, 292
technology and, xx

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technology and, xx
index funds, 156, 171, 175
“index of leading cultural indicators,” 207
India, 187, 304, 313
as economic underachiever, 291
education in, 96
GDP of, 201, 203
hunger in, 304, 318
illiteracy in, 134
inefficiency of state-owned enterprises in, 36
legal system of, 73–74
leprosy in, 203
pollution in, 91, 299
worn rupee notes not accepted in, 237
Indianapolis, Ind., 136
Indian Central Bank, 237
Indonesia, “crony capitalism” in, 90
Industrial Revolution, 50, 145, 193, 291
inertia, in decision making, 81
infant mortality, 5, 68–69, 139, 303, 306, 310, 316
inflation, 157, 201, 233–35, 261, 315
in Argentina, 263–65, 315–16
cycles of, 228
definition of, 238
effects of, 238–42
hyper-, 239, 263
interest rates and, 229–30, 233
real vs. nominal figures and, 239, 240–41
unpredictability of, 241–42
in U.S.-China interdependence, 274
“inflation tax,” 243
information, 108–30
asymmetry of, 109–22
branding and, 123–26
discrimination and, 110–13
genetic, 120–21
health care and, 113–17
health insurance and, 114–22
Nobel Prize winners for work on economics of, 110
“perfect,” 130
purchase of, 125
and racial profiling, 128–30
university education and later success and, 126–28
infrastructure, 68, 72–73, 141, 215, 304
inputs, 38
In-Q-It, 87
Institute for International Economics, 295
institutions, 323
insurance:
and credit default swaps, 163
against risk, 158–63

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against risk, 158–63
against terrorism, 161