The circular flow of income diagram is a simplified representation of the functioning of a free-market economic system. It illustrates how businesses interact with the other economic participants within the key macroeconomic markets that coordinate the flow of income through the national economy. Therefore, it can provide students of business with…

Presents information on the economics of diversity from an individual and a business point of view. Suggests appropriate units in which to integrate diversity training in the basic business/economics curriculum. (Author)

Hypothesizes that: (1) there is much public distrust of business profit-making due to lack of economic education and misunderstanding of business profits; (2) social scientists should study such attitudes and investigate profits; and (3) conflicts between profit-making and government intervention for social goals are inevitable and must be better…

Discussed is the new conservatism that is reflected in American economic circles today. Economists and organizations that are responsible for this new vitality in procapitalist economics are highlighted, including Arthur Laffer, Milton Friedman, William Allen, and Frederich Hayek. (JMD)

In this booklet, one of a series intended to apply economic principles to major social and political issues of the day, it is proposed that speculation is often misunderstood, particularly in the operation of the futures markets. These are markets in which obligations to consummate sales and purchases at some time in the future are traded at a…

Different opinions as to what "economic education" means and negative public opinion toward business are discussed with relation to appropriate delivery systems for secondary economic education. Stating that we have a nation of economic illiterates, the authors examine economic instruction on the job and integrating economic education into other…

In this booklet, one of a series intended to apply economic principles to major social and political issues of the day, the workings of the American insurance industry, a central part of the American economy, are described. Insurance provides a means to transfer or spread risk, thus helping to assure economic survival despite chance, accident, or…

This collection of 23 papers delivered by a diverse array of participants at a conference on elementary/secondary economics instruction reflects a concern that U.S. students have limited understanding of how or why the U.S. economy operates the way it does. The papers included are: "Economic Education: Leading the Way to Educational…

The origins of contemporary radical economics are examined. Applications of radical economics to price and value theory, labor segmentation theory, business cycles, industrial organization, government and business, imperialism and development, and comparative systems are reviewed. (Author/RM)

It is the premise of this booklet, one of a series intended to apply economic principles to major social and political issues of the day, that a revolution in the banking and financial services industry is altering not only the fundamental nature of the services offered but the character of the organizations themselves. The purpose of the essay is…

The argument of this booklet, one of a series intended to apply economic principles to major social and political issues of the day, is that entrepreneurs are central to the development of the American economy. In an historical look at American entrepreneurship, it is noted that entrepreneurs have become central figures in the American economy…

This booklet, one of a series of booklets intended to apply economic principles to major social and political issues of the day, traces the modernization of the ancient culture of Japan. Four major areas are covered: (1) "An Ancient Culture" covers the period from the first settling of Japan through the Heian period, the medieval ages,…

Vocational education in the United States has come under increased scrutiny, and its proponents need the tools to convince the critics of its merits. Many economic conditions have a strong impact on vocational education, and understanding of economics is important in offering a rationale of vocational education. In a time of shrinking revenues,…

Examined in this booklet, one of a series intended to apply economic principles to major social and political issues of the day, are such questions as the origins of interest in combating pollution, why people pollute, continuing interest in the issue, the social costs of pollution, and a possible solution to the problem, all considered from an…