Naked Economics: Undressing the Dismal Science pdfdrive com

Capitalism and Freedom (M. Friedman), 91
carbon dioxide emissions, 37, 57, 60, 299
carbon tax, 299
casinos, zero-sum games of, 165
catastrophe bonds, 160–63
cell phones, 60, 202–3
Center for Business and Economic Research, 280
Central America, low coffee prices and, 208–9
central banks, 238, 244, 246, 251, 259, 261, 264, 267, 269
Central Intelligence Agency (CIA), 87
central planning, 5
resource allocation and, xvii, 88–89
CEOs (chief executive officers), 41–43
certificates of deposit, 240
Chad, 6, 318
chance, 28
checkout lines, 170
Cheney, Dick, 99

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Cheney, Dick, 99
Chester’s pizza, 15
Chicago, Ill., 14–15, 17, 38, 61, 65, 165, 217, 300, 312
house hunting in, 166–68
lakefront of, 77
poverty in, 6, 326–27
racial profiling in, 129
Rostenkowski’s federally funded projects in, 184, 188
Chicago Board of Trade, 155, 160
Chicago Coalition for the Homeless, 6
Chicago Mercantile Exchange, 155
“Chicago school,” of economics, 190
Chicago Sun-Times, 125
Chicago Transit Authority (CTA), 194
chief executive officers (CEOs), 41–43
children:
airline safety and, 39
cost of, 12, 146
in North Korean famine, 36
poverty and, 6, 106, 131–32, 218, 303
see also infant mortality Children’s Memorial Hospital, 196
China, Imperial, 193
China, People’s Republic of, 90, 187, 193, 199–200, 201, 254, 279, 280, 304, 305, 333–34
economic growth of, 291–92
famine in, 318
pollution in, 204, 299
U.S. interdependence with, 183, 272, 273–74, 332
chronometer, 313
cigarettes, as medium of exchange, 235–36
cigarette taxes, 62
Civil Action, A, 58
Civil War, U.S., 243, 287
civil wars, 319–20
Clashing Over Commerce (Irwin), 281
class warfare, 150
Clean Air Act, 67
Clear Channel Communications, 16
Clemens, Roger, 133
Clijsters, Kim, 159–60
climate, income distribution and, 311
Clinton, Bill, xx, xxi, 108–9, 122, 129, 244
Clinton, Hillary, xix, xx, 121, 244
Clinton administration, 39, 103, 192, 289
coal, 299
Coase, Ronald, 65–67
Coast Guard, U.S., 21–22
Coca-Cola, 3–4, 125, 283, 308
cocaine, cost, trafficking and consumption of, 12, 21–22
coffee prices, 160, 208–9
cognitive neuroscience, 173
Cold War, 332

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Cold War, 332
collective farms, 144
Collier, Paul, 319
colonial era, 305
“commodity hell,” 125
communal resources and property, 32, 72, 144
communism, 29
collapse of, 333
incentives ignored in, 36
see also central planning comparative advantage, 282, 296–97
competition, 124–25, 148, 283
in automobile industry, 16
in bidding processes, 86
consumer benefits from, 20
losers and, 48–49
by means other than prices, 24
policy trade-offs and, 51
complexity, human capital and, 153
compound interest, 176
confidence, economic effects of loss of, 209
Congo, 33, 305
Congress, U.S., 51, 64, 101, 105, 116–17, 194, 244, 276, 328
fiscal policy directed by, 214, 234
special interest groups and, 183–88
see also Senate, U.S.
Congressional Budget Office, 101, 146
conservatives, 80
consumer price index, 234, 238
Consumer Reports, 125
consumption:
investment compared with, 98–99
U.S. production vs., 271, 272
Continental Congress, 243
cooperation, international, 276
copyright law, 70
corn, 185, 186, 281
corporate mergers, 42
corporations:
branding and, 124–25
executive incentives and, 41–45
government bailouts of, 51
quality signaled by, 126
taxes and, 52
trust and, 123–24
corruption, 33, 74, 96, 292, 305, 308, 321
cost:
demand and, 40
government means of lowering of, 72
lowered by trade, 288–89
opportunity, 151
private vs. social, 58, 65

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private vs. social, 58, 65
of public goods, 75
of registering businesses, 95
of regulations, 90–91, 106–7
trade-offs and, 10–13, 64
see also price
Costa Rica, 33
Council of Economic Advisers, 101, 103, 209, 215, 224, 247
crab, aggregate vs. individual quotas on, 93
Crain’s Chicago Business, 167, 168
creative destruction, 49–51, 139, 191–92, 283–84
credit, 156–57, 165
credit card debt, 10
credit default swaps, 155, 163–65, 211
in financial crisis, 163–65
“crony capitalism,” 90
Cuba, 5, 83
cultural homogenization, 293–94
currencies:
crises of, 266–68
devalued, 263, 265, 274
manipulation of, 259
overvalued, 256–57, 259
“pegged,” 261
soft, 265–66
standardization of, 269
supply and demand in, 251, 259
undervalued, 256–57, 258–59
currency bands, 263
currency board, 264
currency crises, three-part pattern in, 266–68
currency exchange, 250, 253–65
current account balance, 220–21, 270–73
Curry, Stephen, 132–33
“customary” land, 307
customer service, 84–85
Czech Republic, smoking in, 62
Daewoo Corporation, 290–91
Dale, Stacy, 127
Davos, 289
day trading, 181
DDT, 92
“dead capital,” 306
deadweight loss, 54, 97–98, 106
debt, maximizing utility and, 10
Déby, Idriss, 318
decision making:
biology in, 173
emotions in, 173
inertia in, 81

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inertia in, 81
intuition in, 26
rational vs. irrational, 25–29, 80–82
utility and, 8–12, 26
deductibles, 119–20
default, 315
sovereign, 265
deflation, 227, 245–49
Delhi, 91
demand, 34–35
cost and, 40
see also supply and demand demand curves, 11
democracy, 29, 318–19
capitalism and, 333–34
Democratic Party, 122, 291
Democratic Republic of Congo (DRC), 68
demographics, as economic indicator, 222–23
Denison University, 127
Denver, Colo., heroin dealers in, 129
depreciation, 253, 257
Depression, Great, 199, 219, 224, 247, 249, 261
deregulation, of airline industry, 24
De Soto, Hernando, 306, 308
diet fads, 154
Dimon, Jamie, 89
discount rate, 230–31, 233
“discouraged workers,” 217
discrimination, information and, 110–13
disease, 5, 202, 312, 322, 328–29, 332
“dissaving,” 222, 271
diversification, 28, 162–63, 171, 178–80
dog waste, pooper-scooper decision on, 59
Doha, 289
dollar, U.S., 256–59, 264–65
vs. Chinese renminbi, 254, 256, 273
domain names, 82
domestic servants, 151
down payments, 210
“drive-by deliveries,” xxi
drones, home delivery using, 72
drug trafficking, 21–22, 129
Duflo, Esther, 321
“Dutch disease,” 317
earmarks, 196
earned income tax credit (EITC), 55
East Africa, civil wars in, 33
East Asia, economic success in, 324, 331
Easterly, William, 290, 291, 303, 310, 316, 322–23, 324
“easy money,” 228
Ebert, Roger, 10, 125, 127

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Ebert, Roger, 10, 125, 127
Ebola virus, 161–62
economic growth:
impediments to, 275–76
limits to, 227–28, 234
policies for promotion of, 304–24
poverty and, 134–35
seven questions on the future of, 325–35
Economic Growth in the 1990s (World Bank), 324
economic indicators, 216–23
budget deficit/surplus, 219–20
current account surplus/deficit, 220–21
demographics, 222–23
income inequality, 218
national savings, 221–22
poverty, 217–18
size of government, 218–19
unemployment, 216–17
see also gross domestic product economics, xvii–xxvi, 78
behavioral, xxiv–xxv
“Chicago school” of, 190
college courses in, xvii–xviii, 335
definition of, 6
illiteracy in, xviii
importance of, xviii, xxiii
initial basic assumption made in, 6
international, 250–76
Nobel laureates in, see Nobel laureates in economics psychology and, 26–29
of regulation, 187
role of intuition in, xviii, xx, xxvi second basic assumption in, 13
social costs and, xxii
trade-offs and, 10–13
economic sanctions, 287
Economics of Discrimination, The (Becker), 111
Economist, The, 9, 59, 71, 92, 120–21, 159, 166, 173, 206, 212, 237, 256, 268, 269, 275, 287, 295, 302,
306–7, 310, 319–20, 321, 326
economists, $100 bill joke about, 172
economy, underground, 52, 95
see also black markets
economy, U.S.:
current account deficits of, 270–73
future challenges to, 332–33
inequality in, 146–47
interdependence in, 331
international debt and, 273–74
limits to growth of, 227–28, 234