This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. Revised, expanded, and updated for this new edition, the text puts the study of microeconomics, macroeconomics, and globalization in their historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This allows students to see economics as a way of understanding the world - as a lens for social analysis - rather than, as immutable truth or ideal to which the world should be molded.This completely revised edition incorporates new chapters on microeconomics and macroeconomics, as well as more graphs to enhance the theoretical presentations. Unlike the previous editions, it includes many pedagogical tools to encourage student participation and learning. Each of the 56 chapters opens with Learning Objectives, and key terms appear in boldface within the text and are listed at the end of each chapter. Other end-of-chapter material includes Summary of Major Points, Analytical Questions, and References. An online Instructor's Manual is available to professors who adopt the text.
Foreword by Robert Pollin
Pt. I Economics of History and History of Economics
Sect. 1 The Long Road to Capitalism
1 Prehistoric Communal Institutions in the Middle East
2 Communal Equality to Slavery in the Middle East
3 Slavery to Feudalism in Western Europe
4 Feudalism and Paternalism in England
5 Feudalism to Capitalism in England
6 Mercantilism in England
7 Pre-Capitalism to Industrial Capitalism in the United States, 1776-1865
Sect. 2 Capitalism, Its Defenders, and Its Critics
8 Classical Liberalism: Defense of Industrial Capitalism
9 Socialist Protest Against Industrial Capitalism
10 Marx: Critique and Alternative to Capitalism
11 Rise of Corporate Capitalism in the United States, 1865-1900
12 Neoclassical Economics: Defense of Corporate Capitalism
13 Veblen: Critique of Corporate Capitalism
14 Growth and Depression in the United States, 1900-1940
15 Keynesian Economics and the Great Depression
16 The United States and Global Capitalism, 1940-2006
Pt. II Microeconomics: Prices, Profits, and Poverty
Sect. 1 Introduction
17 Robinson Crusoe: Two Perspectives on Microeconomics
Sect. 2 Elements of Progressive Microeconomics
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