Tempered with Reality

Tempered with Reality: Economics in Theory and Practice analyzes several economic theories and measures each against reality to determine whether or not these theories actually work in the real world.The book explains what economics is truly all about: how it works, how it is flawed, and what the future may hold for economies around the world. It examines how the theories that work in perfect equilibrium in the classroom may no longer apply to an increasingly complex business and economic environment.The seven chapters of the book address familiar topics such as free markets, unemployment, inflation, fiscal and monetary policy, and the International Monetary Fund. However, the text explores these topics from a very modern perspective and includes pressing, real-world issues such as:Mega-banks and Their Impact on Main StreetThe Way Derivatives Swarmed Banking Balance SheetsHow Governments throughout the “Free World” guaranteed private profits for banks, but socialized lossesOutsourcingMassive Sovereign DebtTempered with Reality can be used in Economics and International Economics courses. The accessible style of the writing makes the book appropriate not only for students and academics, but for any reader interested in learning about the important consequences of economic theory run amok.