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• catalog abstract ""Famous Fables of Economics critiques some of our most cherished stories of market failure. Economists have used these colorful myths to justify a wide range of public policy interventions in the economy, from public provision of goods and services, to economic regulation of industry, to antitrust actions against major corporations. Despite their blatant factual inaccuracies, the appeal of these fables to economic, law, and management academics continues undiminished - the fables are persistently repeated in countless classrooms, textbooks, and academic seminars. Among the fables critiqued here are the lighthouse, the keyboard, the bees and the orchard, General Motors' acquisition of Fisher Body, the learning curve, the Liberty ships, and tulip mania. This controversial book contains a number of articles that explore the mythical nature of some of economists' most cherished stories. It provides an amusing look at economic thought that is accessible to general readers, students, professionals, and academics, and raises questions about the role of the government in society." "The "moral" of these articles is that economic analysis of market efficiency should rely on systematic analysis, not casual anecdotes."--Jacket.".
• catalog contributor b12242653.
• catalog created "2002.".
• catalog date "2002".
• catalog date "2002.".
• catalog dateCopyrighted "2002.".
• catalog description ""Famous Fables of Economics critiques some of our most cherished stories of market failure. Economists have used these colorful myths to justify a wide range of public policy interventions in the economy, from public provision of goods and services, to economic regulation of industry, to antitrust actions against major corporations. Despite their blatant factual inaccuracies, the appeal of these fables to economic, law, and management academics continues undiminished - the fables are persistently repeated in countless classrooms, textbooks, and academic seminars. Among the fables critiqued here are the lighthouse, the keyboard, the bees and the orchard, General Motors' acquisition of Fisher Body, the learning curve, the Liberty ships, and tulip mania. This controversial book contains a number of articles that explore the mythical nature of some of economists' most cherished stories. It provides an amusing look at economic thought that is accessible to general readers, students, professionals, and academics, and raises questions about the role of the government in society." "The "moral" of these articles is that economic analysis of market efficiency should rely on systematic analysis, not casual anecdotes."--Jacket.".
• catalog description "Includes bibliographical references and index.".
• catalog description "Introduction: Economic fables and public policy / Daniel F. Spulber -- The lighthouse in economics / Ronald H. Coase -- The voluntary provision of public goods? The turnpike companies of early America / Daniel B. Klein -- The fable of the bees : an economic investigation / Steven N.S. Cheung -- The fable of the keys / Stan J. Liebowitz, Stephen E. Margolis -- Beta, Macintosh, and other fabulous tales / Stan J. Liebowitz Stephen E. Margolis -- Delivering coal by road and rail in Britain : the efficiency of the "silly little bobtailed wagons" / Va Nee L. Van Vleck -- The acquisition of Fisher Body by General Motors / Ronald H. Coase -- The fable of Fisher Body / Ramon Casadesus-Masanell, Daniel F. Spulber -- Sharecropping / Steven N.S. Cheung -- Predatory price cutting : the standard oil (N.J.) case / John S. McGee -- Another look at Alcoa: raising rivals' costs does not improve the view / John E. Lopatka, Paul E. Godek -- How much did the Liberty Shipbuilders learn? New evidence for an old case study / Peter Thompson -- Financial legends / The Economist.".
• catalog extent "viii, 312 p. :".
• catalog identifier "0631226745 (alk. paper)".
• catalog identifier "0631226753 (pb. : alk. paper)".
• catalog issued "2002".
• catalog issued "2002.".
• catalog language "eng".
• catalog publisher "Malden, Mass. : Blackwell Publishers,".
• catalog subject "338 21".
• catalog subject "Business failures History.".
• catalog subject "Economic policy History.".
• catalog subject "HG3761 .F36 2002".
• catalog tableOfContents "Introduction: Economic fables and public policy / Daniel F. Spulber -- The lighthouse in economics / Ronald H. Coase -- The voluntary provision of public goods? The turnpike companies of early America / Daniel B. Klein -- The fable of the bees : an economic investigation / Steven N.S. Cheung -- The fable of the keys / Stan J. Liebowitz, Stephen E. Margolis -- Beta, Macintosh, and other fabulous tales / Stan J. Liebowitz Stephen E. Margolis -- Delivering coal by road and rail in Britain : the efficiency of the "silly little bobtailed wagons" / Va Nee L. Van Vleck -- The acquisition of Fisher Body by General Motors / Ronald H. Coase -- The fable of Fisher Body / Ramon Casadesus-Masanell, Daniel F. Spulber -- Sharecropping / Steven N.S. Cheung -- Predatory price cutting : the standard oil (N.J.) case / John S. McGee -- Another look at Alcoa: raising rivals' costs does not improve the view / John E. Lopatka, Paul E. Godek -- How much did the Liberty Shipbuilders learn? New evidence for an old case study / Peter Thompson -- Financial legends / The Economist.".
• catalog title "Famous fables of economics : myths of market failures / edited by Daniel F. Spulber.".
• catalog type "History. fast".
• catalog type "text".