Naked Economics: Undressing the Dismal Science pdfdrive com

Luxury Fever (Frank), 149
luxury goods, 7
mackerel, as medium of exchange, 236, 238
MacKinlay, A. Craig, 175
Madagascar, 290
Madoff, Bernie, 181
Maestro (Woodward), 234
Maine, 184, 198, 199, 283, 284
Major, John, 251–52
malaria, 92, 312
Malawi, 290, 302, 303, 306–7
Malkiel, Burton, 97, 155, 156, 171, 175
Malthus, Thomas, 145
manicurists, 94
Mankiw, Greg, 101
Mao Zedong, 294
Margarita Space Pak, 88
market anomalies, 174
“Market for Lemons, The” (Akerlof), 113
market price, 18–20
markets:
amoral nature of, 21
barriers to, 16–17
benefits of, 20
black, 22, 31
central planning compared with, 5

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effect of subsidies on, 188
failures of, 58, 60, 68
free, xxii, 150
government and, see government, governance, market role of liberty and, 29
resource allocation and, 6, 13–14, 22, 88–89
self-correcting nature of, 23
self-interest and, 4
social problems solved through, 328–29
transactions as mutually beneficial in, 24–25
marks, German, 238–39, 250, 252n marriage, economic value of, 205–6
“marriage tax,” 51
Martin, William McChesney, Jr., 229
Massachusetts:
health care in, 121, 122
striped bass quotas of, 93
maternity leave, xvii, 110–12
McCaffrey, Barry, 129
McCain, John, 101, 186
McCarty, Oseola, 8
McDonald’s, xix, 123, 134, 256–57, 268, 293, 294
McKinsey & Company, 148
Medicare, 53, 78, 87, 222–23, 332
Mellon Foundation, 127
Mencken, H. L., 149
mergers, corporate, 42
Mexico, 193, 212, 266, 293
NAFTA and, xviii–xix, 141–42, 192, 283
Mexico City, 39–40
Michael Clayton, 58
Michigan, 50
Micklethwait, John, 294, 300
microcredit, 156–57
Microsoft, 18, 35, 70, 148
MicroStrategy, 170–71
middle class, benefits received by, 78
militias, 320
Millennium Development Goals, UN, 303–4
Mini Coopers, 58
minimum wage, 104
Miringhoff, Marc, 206
Mitchell, Olivia, 27–28
Mnuchin, Steve, 101
mobile (cell) telephones, 60, 202–3
mohair subsidy, 183–84
Monaco, taxes in, 51
monetary policy, 248–49, 251, 260, 261, 269, 315–16, 330–31
description of, 215–16
effects of misdirection in, 227, 234–35, 243, 247, 249
Federal Reserve and, 226–27, 230, 234–35
in Great Depression, 224

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money, nature of, 235–39
Mongkol Latlakorn, 295
monopolies, 16, 74
branding and, 125
government, 84–86
ill effects of, 84
Moradabad, 74
Morningstar, 125, 171
mortgages, 72
subprime, 210
Moscow, 294, 308
motorcycle deaths, 23, 27
Motorola, 294
Motor Vehicles Department, 68, 84, 85
mountain gorillas, 33–34
movie industry, 239
Mozambique, 95
Mundell, Robert, 227, 235
Museum of Science and Industry, 184, 188
music, downloading of, 69
mutual funds, 125, 156, 162–63, 171
NAFTA, see North American Free Trade Agreement Namibia, 34
Nanhe, Mohammad, 73–74
Nantucket, rules on exterior paint on, 62
NASDAQ, 18, 73
National Corn Growers Association, 186
national debt, 215
National Economic Council, 246n National Public Radio, 294
National Review, 101
National Transportation Safety Board, 39
natural disasters, 158, 161
natural gas, 317
natural resources:
economic growth and, 316–18
standard of living and, 140
see also resources
Naval Air Warfare Center (NAWC), 136
Nepal, 17, 298
Netflix, 294
Netherlands, exports of, 317
network effects, 17
Neumark, David, 149
neuroeconomics, 173
“New Compact for Africa,” 315
New Delhi, 74
New Jersey, 186
Newton Falls, N.Y., decline of, 284
New York, N.Y., 8–9
New Yorker, The, 197, 211–12

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New York Times, xix, 7, 8, 22, 34, 39, 47, 48, 51, 59, 62, 67, 74, 89, 91, 116, 172, 185, 208–9, 214, 221,
258, 267, 284, 287, 291–92, 305, 329
New York Times Magazine, 320
New Zealand, 95, 272–73
Nigeria, 68, 140, 290
Nike, 25, 125, 188, 288, 295
Nikkei Index, 199
Nimmich, Joseph, 22
Nixon, Richard M., 244
Nobel laureates in economics, xxii, xxv, 5–6, 25, 26, 65, 79, 92, 94, 110, 111, 113, 119, 126, 133, 139, 149,
169, 172–73, 174, 187, 188, 203, 207, 227, 235, 261, 304, 309, 318, 325
Nokia, 294
nominal exchange rate, 253n–54n Non-Random Walk Down Wall Street, A (Lo and MacKinlay), 175
nontradable goods, 255–56
North, Douglass, 304
North American Free Trade Agreement (NAFTA), 183, 192
job creation and, 283
Perot’s warnings about, xviii–xix, 141–42
Trump and, xx
North Sea, 317
Norway, 52, 81, 201, 205
Novica.com, 294
Nudge (Thaler), 81
Obama, Barack, xx, 87, 116–17, 121, 186, 195, 196, 209, 224, 249
Obama administration, 81, 89, 121–22, 214, 215, 224
stimulus bill of, 185, 214–15
obesity, 60
Obstfeld, Maurice, 265
occupational licensure, 190
O’Hare Airport, 17
oil, 37, 68, 132, 140, 157, 201, 259, 281, 316
oil prices, 23, 208, 234
Okun, Arthur, 217
Okun’s law, 217
Olympic Games (1996), 135
open market operations, 232
opportunity cost, 151, 206
Opportunity International, 157
“opt-in” laws, 81
“opt-out” (presumed consent) laws, 81
organ donation, 81–82
Organization of Petroleum Exporting Countries (OPEC), 23
Orphan Drug Act (1983), 328–29
Oswald, Andrew, 205–6
outsourcing, 142
Oxfam, 297
Oxford Center for the Study of African Economies, 319
ozone depletion, 185
Pakistan, 303

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Pakistan, 303
Palestinians, 133–34
pandemic bonds, 162
Paris, dog waste in, 59
parks and open space, 77