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The Economic Way of Thinking (10th Edition)

The Economic Way of Thinking (10th Edition)

List Price: $99.00
Your Price: $99.00
Product Info Reviews

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Rating: 5 stars
Summary: Outstanding
Review: Dr. Heyne was an outstanding professor. In fact, the most memorable and influential of my college "career." You will understand from reading his books how brilliant he was.

Rating: 5 stars
Summary: Outstanding
Review: Dr. Heyne was an outstanding professor. In fact, the most memorable and influential of my college "career." You will understand from reading his books how brilliant he was.

Rating: 5 stars
Summary: One of the best Economic textbooks I've read
Review: Heyne begins w/ the first principles of economics: how human beings interact on a mass scale, and the positive consequences of those actions, and the negative consequences of interferring w/ voluntary human interaction. He then carries the reader through the traditional economic concepts of Supply and Demand, Specialized Labor, Externalities...all focused through the lens of the "Economic Way of Thinking".

Make no mistake--this book is a substantive, philosophical refutation of "Statism". Heyne hits Comparative Advantage, Price Theory, Rule of Law, and Private Property hard (in the affirmative), and if you're for tariffs, regulated prices, arbitrary Gov't intervention, and public property, your views won't be validated. All the more reason for you to read this book, and understand why so many stamp their foot down against politicized economic policies that superficially sound and feel so good. Heyne's lesson is to think on a macro-scale, think about the unintended consequences of mass social change, for that is the Economic Way of Thinking.

Rating: 4 stars
Summary: Comparative Advantage in Price Theory
Review: Heyne's text explains what it explains well. It is a good Freshman level price theory text. Its strengths are in explaining informational and coordination issues in markets. It does more to explain how the price system works as a communications network than any other text I have seen. It also explains the issues of property rights and transactions costs clearly.

When it comes to the public sector, it is vastly better than many other texts. There are other texts, like Gwartney and Stroup, and Ekelund and Tollinson, which are arguably better at explaining the public sector.

The biggest weaknesses of this book are in macro and international economics. Its chapters on money are ok, but it explains far too little about trade cycles. It has some good material on growth, but could explain more and in more detail. The chapter on international economics could go further as well. The shortcomings of this book likely reduce its sales. So, it seems that the marginal benefits of such revisions exceed their marginal costs.

Heyne is no longer around to revise this book, but the co-authors who took over for him could improve this book greatly for the next edition.

Rating: 5 stars
Summary: Very usefull book. VERY USEFULL ONE!
Review: If you need a textbook on Economic, and you do not know the theory, you HAVE to read it before you get started. It's also very usefull for businessmen. I've read it in Russian

Rating: 5 stars
Summary: Excellent
Review: This book makes the complex subject of economics very easy to understand, and will cause you to think very differently about social issues. Paul Heyne is also one of the best teachers I've ever had.


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