The study of economics has always been fascinating, yet it is difficult to remember a more exciting or important time in the discipline. This book includes - Macroeconomics and the Economic Perspective; The process system; Households and firms in the labor and capital markets; Measurement of economic output and unemployment; The cost of living and inflation; The full-employment model; Government finance at full employment; The open economy at full employment; Economic growth; Money, the price level, and the federal reserve; Introduction to macroeconomic fluctuations; Aggregate expenditures and income; Aggregate demand and inflation; The federal reserve and interest rates; The role of macroeconomic policy; International trade and trade policy; The international financial system; Policy in the open economy; Development and transition; Inflation and unemployment; Controversies in macroeconomic policy; A student's guide to investing.

Why has inequality increased in the Western world - and what can we do about it? In The Great Divide , Joseph Stiglitz fully exposes the inequality - from its dimensions and its causes to its consequences for the world - that is afflicting America and other Western countries in thrall to neoliberalism. From Reagan-era policies to the Great Recession and its long aftermath, Stiglitz delves into the processes and irresponsible policies - deregulation, tax cuts for the rich, the corruption of the political process - that are leaving many people further and further behind and turning the dream of a socially mobile society into an ever more unachievable myth. With formidable yet accessible economic insight, he urges us to embrace real solutions- increasing taxes on corporations and the wealthy; investing in education, science and infrastructure; helping homeowners instead of banks; and, most importantly, doing more to restore the economy to full employment. Stiglitz's analysis reaches beyond America - the inequality leader of the developed world - to draw lessons from Scandinavia, Singapore and Japan, and he argues against the tide of unnecessary, destructive austerity that is sweeping across Europe. Ultimately, Stiglitz believes our choice is not between growth and fairness; with the right policies, we can choose both. 'Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual. ' Robert Kuttner, New Statesman 'Stiglitz is a rare breed, an heretical economist who has ruffled the self-satisfied global establishment that once fed him.' Ian Fraser, Sunday Tribune 'A seer of almost Keynesian proportions.' Michael Hirsh, Newsweek 'An insanely great economist.' Paul Krugman, The New York Times