Trade-offs: An Introduction to Economic Reasoning and Social Issues

When economists wrestle with issues such as unemployment, inflation, or budget deficits, they do so by incorporating an impersonal, detached mode of reasoning. But economists also analyze issues that, to others, do not typically fall within the realm of economic reasoning, such as organ transplants, cigarette addiction, smoking in public, and product safety. Trade-Offs is an introduction to the economic approach to analyzing these controversial public policy issues. Harold Winter provides readers with the analytical tools needed to identify and understand the trade-offs associated with these topics. By considering both the costs and benefits of potential policy solutions, Winter stresses that real-world policy decision-making is best served by an explicit recognition of as many trade-offs as possible. Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone who follows current social policy debates.