EconoPower: How a New Generation of Economists is Transforming the World

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9781119091868: EconoPower: How a New Generation of Economists is Transforming the World

EconoPower will provide you with a firm understanding of the influence of modern economics and how it can be used to improve the world we live in. It offers practical advice on numerous personal financial matters—earning, saving, investing, and retiring—based on the breakthrough contributions of behavioral economists. And it looks at how economists are working successfully on issues such as public education, crime, and global warming. EconoPower also examines how a new economic philosophy may dominate the new millennium.

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From the Inside Flap:

In 2006, the Nobel Peace Prize was for the first time awarded to an economist. Once ridiculed as the "dismal" science, economics has now emerged as the "imperial" science that influences every aspect of daily life, from politics to education to religion to Wall Street. Like an invading army, the science of Adam Smith is overrunning the whole of social science--law, finance, politics, history, sociology, environmentalism, religion, and even sports. In EconoPower, professional economist Mark Skousen shows how this is happening--and how economists are solving the world's problems on both the individual and national level.

EconoPower offers practical advice on personal financial matters--earning, saving, investing, and retiring--based on the breakthrough contributions of behavioral economists. It reveals exciting discoveries by economists to solve domestic problems, such as road congestion, health care, public education, crime, and other issues high on the public's list. And it looks at how economists are working successfully on international issues from global warming to religious wars. Looking toward the future, the book also reveals what kind of new dynamic economic philosophy will dominate the new millennium.

Skousen reveals how economists have gone beyond writing abstract academic papers and books and are now applying their theories in the real world by running businesses, consulting companies, and taking positions in government. Economics can change people's lives and nations' fortunes for better or for worse, he explains, depending on how closely they adhere to or violate basic principles. Those key principles include accountability, cost-benefit analysis, investments, and entrepreneurship. By understanding and incorporating these principles, better decisions will be made on individual, corporate, and government levels. To explain this thesis, the author offers analyses of key economists who have changed their views over time, an examination of major domestic and international issues, and an explanation of how economists can predict which politicians will be successful.

With EconoPower as their guide, readers will gain a firm understanding of the influence of economics and how it can be used to improve the world we live in.

From the Back Cover:

PRAISE FOR ECONOPOWER

"Imagine, economists solving the world's problems! Skousen's breakthrough book bring us up to date on this fascinating development. Visionary economists are showing us creative ways to reduce world poverty, eliminate traffic jams, solve the health care crisis, save more and invest better, make business and labor more productive, improve education, cut crime, and even reduce tensions and establish peace in war-torn regions of the world. We've used some of these techniques at Whole Foods, and they work. Read this book and discover a new brand of economics!"
— JOHN MACKEY, CEO, Whole Foods Market

"Mark Skousen is an able, imaginative, and energetic economist."
— MILTON FRIEDMAN, Nobel laureate in economics

"Economics is experiencing a golden age of discovery. Empirical economists are charting the economy and society with a wealth of detailed applied results that truly bear comparison with other epochs of discovery in other sciences."
— DIANE COYLE, author of The Soulful Science: What Economists Really Do and Why It Matters

"Mark Skousen is one of the best financial economists I know. His books on free-market economics and investing can't be beat. Like me, he's upbeat and optimistic about supply'side/Austrian economics, and has been instrumental in educating students, business people, government leaders, and fellow economists on sound economics and finance. Highly recommended."
— LARRY KUDLOW, CNBC's Kudlow & Company

"Skousen does a wonderful job explaining how a new generation of economists is making a difference. Economics is no longer the dismal science, but an upbeat, universal science fulfilling ever-expanding needs—helping people save and invest better, bringing millions out of poverty, alleviating traffic congestion, making companies more profitable, and helping countries achieve their own economic miracles."
— ARTHUR B. LAFFER, President, Laffer Associates

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