This article represents the third in a "ghost story" series by the same authors. Readers may recall that Mr. Bernanke was "visited" by the ghosts of Adam Smith and John Maynard Keynes in the March/April 2010 issue of "Social Education" as these two famous economists debated the economic recovery (see EJ878912). Mr.…

"One who rides a tiger is afraid to dismount," says a colorful proverb from an earlier time. This may be an apt saying for the situation facing the new head of the Federal Reserve, Janet L. Yellen, who takes over at a time when successive rounds of Fed policy have taken the central bank into uncharted territory. By historical standards,…

The U.S. economy today has been in recovery since 2009. But nearly everyone agrees that the recovery is anemic--too slow to reduce the high level of unemployment. Real Gross Domestic Product (GDP)--the total value of all the goods and services produced in the United States--increased at an annual rate of 2.8 percent in the fourth quarter of 2010.…

Defines public choice theory as the application of economic analysis to the study of government, focusing on individual behavior. Contends that the teaching of public choice theory helps students to think critically and analyze political problems. Suggests how to introduce the theory in the classroom and provides three case study handouts. (GG)

Considers what students are learning about the environment. Summarizes ways in which market forces can improve environmental quality. Discusses the "tragedy of the commons" (people overuse things they do not own) and the role of private property rights. Considers noneconomic and economic remedies and gives examples of market-oriented reforms. (CMK)

Explores the changes in the U.S. economy explaining that it became an engine of growth for the entire world economy. Describes the transformation in economic thought during the 20th century and relates these changes to issues of interest to social studies educators. Concludes with a discussion on 21st century thought. (CMK)