Discusses the conventional theory of free riding as discussed in economic textbooks. Argues the theory is empirically invalid, and reviews various scholarly viewpoints on this issue. Suggests alternatives to teaching current economic theory and argues that the concept of self-interest neglects the ethical issues in behavior. (NL)

Argues that, although most economics textbooks' explanations of imperfect competition may involve three to five models, the concept can be taught using a single, simple model. Uses several business/economic examples as illustrations. (DB)

Evaluates the current state of teaching about the U.S. economy in the People's Republic of China. Provides information to promote a better understanding of the background of economics of students coming from China to the United States as well as providing information to U.S. economists planning on teaching about the economy of China. (BSR)

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)

Examines the behavior of long-run average cost when the firm knows it faces pecuniary economies or diseconomies of scale. Asserts that the central issue is the conditions under which the scale properties of the production function will or will not dominate the pecuniary effects of changing input prices. (CFR)

Maintains that a discussion of the Eurocurrency market is now a regular feature of most money and banking textbooks. Explains that the demand for Eurocurrency deposits stems, in part, from a transactions motive and recommends that this approach be added to textbook presentations on the subject. (CFR)

A survey of 15 college economic principles texts revealed a startling lack of uniformity, clarity, and precision in discussion of the U.S. economy. Descriptors of the economy were considered either primary or secondary. Primary descriptors were the major terms used to identify the U.S. economy and were used explicitly in the text. Secondary…

This article discusses what schools and colleges currently teach about capitalism and suggests that curricula include a broader base of information about other economic systems and the liabilities of capitalism. Topics are proposed for inclusion in the curriculum, and an outline for a high school course in comparative economics is presented. (PP)

Discusses issues related to short-run marginal cost and long-run marginal cost in economic theory. Asserts that few economics textbooks deal with important aspects of this concept. Includes four figures illustrating the approach suggested by the authors. (CFR)

This booklet, one of a series intended to apply economic principles to major social and political issues of the day, starts from the premise that Marxism is a threat to our way of life and offers a critique of fundamental components of the social movement Marx created. The first of six subsections focuses on sources of influence on Karl Marx…

Maintains that, although U.S. currency today is pure fiat money and not backed by gold or any other precious metal, students frequently ask, "But what about the gold at Fort Knox?" Describes what is really located at Fort Knox, why it is there, its implications for public policy. (CFR)

Discusses whether or not the economic concept of the long run is no longer feasible because of computer-assisted manufacturing and other technological advances. Concludes that the terms "long run" and "short run" still serve as logical constructs in formal economic analysis. (CFR)

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…

An elaboration of the author's booklet entitled "First Steps Toward Economic Understanding," this primer is designed to help the reader develop a functional understanding of the economic process so that he can make wiser decisions on issues of social policy and on matters affecting his economic well-being. The document is not "economics in one…