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Naked Economics Undressing the Dismal Science ( PDFDrive )
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 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 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 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 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 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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