Understanding Economic Equilibrium : Making Your Way Through an Interdependent World

Cover -- Half-Title -- Title -- Copyright -- Description -- Contents -- Preface -- Acknowledgement -- Part I: The Equilibrium Principle:A Natural Dynamic State -- Chapter 1: What Happens There Matters Here -- Chapter 2: It's the Global Economy -- Chapter 3: Politics and the Economy -- Part II: GDP and Consumption -- Chapter 4: GDP: The Perfectly Imperfect Measurement -- Chapter 5: Consumers and Consumption: Follow the Money -- Chapter 6: Shifting Sands: Consumers Prefer Services -- Chapter 7: Great Expectations -- Chapter 8: Saving and Investing: Equilibrium at Work -- Chapter 9: Real Estate: Is It Still Location, Location, Location? -- Chapter 10: Lighten Up: Capital Expenditure and Intellectual Property -- Chapter 11: Inventories: The Buffer Between Production and Consumption -- Chapter 12: State and Local Governments: Where Spending Gets Done -- Chapter 13: Stabilization and Procyclicality: How Governments Balance Spending With Taxes -- Chapter 14: Federal Spending: Budgets and Deficit Spending -- Chapter 15: Jimmy Stewart, Oz, and the Road to a Federal Reserve -- Chapter 16: The Stop Sign (or Toll Booth) at the Border: Trade and Tariffs -- Chapter 17: The Compensation Principle: Should We Pay the Losers? -- Chapter 18: Domestic Imbalance: A Role for Trade Balances -- Chapter 19: As the World Turns -- Part III: The Economy and You -- Chapter 20: COVID-19: How the Pandemic Changed Business -- Chapter 21: Climate Change: "Is It Hot in Here or Is It Me?" (Joan of Arc) -- Chapter 22: Health Care Costs: A Steady Climb -- Chapter 23: First Fridays: Monthly Job Reports -- Chapter 24: A Shrinking Workforce: Jobs and Work in the Twenty-First Century -- Chapter 25: Wages: Minimum and More -- Chapter 26: Measuring Prices: How Much Is a Dollar? -- Chapter 27: Productivity and Wages: What We Make for What We Earn.