Description
From the wild swings of the stock market to the online auctions of eBay to the unexpected twists of the world's post-Communist economies, markets have suddenly become quite visible. We now have occasion to ask, "What makes these institutions work? How important are they? How can we improve them?"
Taking us on a lively tour of a world we once took for granted, John McMillan offers examples ranging from a camel trading fair in India to the $20 million per day Aalsmeer flower market in the Netherlands to the global trade in AIDS drugs. Eschewing ideology, he shows us that markets are neither magical nor immoral. Rather, they are powerful if imperfect tools, the best we've found for improving our living standards.
A New York Times Notable Book.
About the Author
John McMillan (1951-2007) was the Jonathan B. Lovelace Professor of Economics at Stanford University's Graduate School of Business.
Reviews
"There could be no better guide to the modern view of markets than John McMillan's book." -- Joseph E. Stiglitz, Nobel prize winner in economics
Book Information
ISBN 9780393323719
Author John McMillan
Format Paperback
Page Count 288
Imprint WW Norton & Co
Publisher WW Norton & Co
Weight(grams) 295g
Dimensions(mm) 211mm * 140mm * 20mm
