• Reviews historical and contemporary macroeconomic theory
  
• Examines governmental influence on moderating (or exacerbating) economic fluctuations
  
• Discusses both empirical and theoretical links between financial systems and economic performance, as well as case studies detailing the role of finance in specific business cycle episodes

Despite more than two centuries of debate, a definitive explanation of the causes of economic cycles still does not exist. Economists, politicians, and policymakers have argued many well-known theories as to why these peaks and slumps occur, and cyclical recessions and depressions continue in spite of the enormous intellectual reserves working to prevent them. This timely analysis presents a comprehensive overview of global economics, assessing older theories alongside of new ways of thinking to reveal the empirical methods needed to evaluate, forecast, and prevent future...

The principles and mechanics of economics are firmly rooted in everything around us, in our home country as well as in every nation and culture around the world. Having a basic grasp of economics can help all travelers to think more carefully about why things work differently in different places. Armed with this knowledge, readers will be equipped to better appreciate--and learn from--the beauty and complexity of the world around us.

The Traveling Economist: Using Economics to Think about What Makes Us All So Different and the Same illustrates important economic...