December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
Decision making
KEY THINKER
David Hume (1711–76)
BEFORE
c.500 BCE In Athens indirect taxes are used to finance city festivals, temples, and walls. Occasional direct taxes are levied at times of war.
1421 The first patent is granted to Italian engineer Filippo Brunelleschi to protect his invention of hoisting gear for barges.
AFTER
1848 The Communist Manifesto advocates collective ownership of the means of production by the workers.
19th century Public street lighting is introduced in Europe and America.
1954 US economist Paul Samuelson develops a modern theory of public goods.
Even within a well-functioning market economy, there are areas ...
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