The Macro Economy Today 14th Edition Bradley Schiller

xxvi
CONTENTS
THE ECONOMY TOMORROW:
The Quality of Life 107
IN THE NEWS
A Lot Going On under the Table 96
Material Wealth vs. Social Health 109
WORLD VIEW
Global Inequalities 95
CHAPTER 6: UNEMPLOYMENT 113
The Labor Force 114
Measuring Unemployment 116
The Human Costs 119
Defining Full Employment 120
The Historical Record 124
Summary 126
THE ECONOMY TOMORROW:
Outsourcing Jobs 125
IN THE NEWS
Unemployment Benefits Not
for Everyone 119
The Real Costs of Joblessness 120
Unemployment Rate Hits a 26-Year High 125
Outsourcing May Create U.S. Jobs 126
CHAPTER 7: INFLATION 130
What Is Inflation? 131
Redistributive Effects of Inflation 131
Macro Consequences 137
Measuring Inflation 138
The Goal: Price Stability 141
The Historical Record 143
Causes of Inflation 144
Protective Mechanisms 144
Summary 146
THE ECONOMY TOMORROW:
The Virtues of Inflation 145
IN THE NEWS
College Tuition Up Again 132
Ignoring Cell Phones Biases
CPI Upward 142
WORLD VIEW
Zimbabwe’s Trillion-Dollar Currency 136
PART 3: CYCLICAL INSTABILITY
CHAPTER 8: THE BUSINESS CYCLE 152
Stable or Unstable? 153
Historical Cycles 155
A Model of the Macro Economy 160
Aggregate Demand and Supply 161
Competing Theories of Short-Run
Instability 168
Long-Run Self-Adjustment 170
Summary 172
THE ECONOMY TOMORROW:
Coping with Recession: 2008–2014 171
IN THE NEWS
Market in Panic as Stocks Are Dumped in
12,894,600-Share Day; Bankers Halt It 153
Sharpest Economic Decline in 26 Years 160
WORLD VIEW
Global Depression 157
CHAPTER 9: AGGREGATE DEMAND 176
Macro Equilibrium 177
Consumption 178
The Consumption Function 181
Investment 187
Government and Net Export Spending 190
Macro Failure 192
Summary 196
Appendix: The Keynesian Cross 197
THE ECONOMY TOMORROW:
Anticipating AD Shifts 195
IN THE NEWS
Overspending 179
Disposable Income and Outlays:
May 2014 184
Consumer Confidence Index
at Record Low 185
Wealth Effect Boosts Spending 187
Cuomo Proposes to Cut Spending by $8.9 Billion,
Fire 9,800 Workers 190
U.S. Leading Indicators Signal Continuing
Recovery 196
WORLD VIEW
Panasonic Cuts Spending 189