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Trade-Offs: An Introduction to Economic Reasoning and Social Issues 2ed

by Harold Winter University of Chicago Press
Pub Date:
Pbk 192 pages
AU$53.99 NZ$57.38
Product Status: Not Our Publication - we no longer distribute
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& Academics:
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, typically do not fall within the realm of economic reasoning, such as organ transplants, cigarette addiction, overeating, 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 decision making is best served by an explicit recognition of as many trade-offs as possible. This new edition incorporates recent developments in policy debates, including the rise of “new paternalism,” or policies designed to protect people from themselves; alternative ways to increase the supply of organs available for transplant; and economic approaches to controlling infectious disease.

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.

Preface to the Second Edition
Preface to the First Edition: Welcome to My World

1 Approaching Social Issues
2 A Valuable Life (to Some Extent)
3 Do You Want to Trade?
4 What's Yours Is Mine
5 Eat, Drink, Smoke, and Be Unhappy
6 Stop Bothering Me
7 Behave Yourself
8 There Are No Solutions


History of Economic Ideas
Praise for the first edition
“With shrewd verbal reasoning, Harold Winter brings home a number of concepts the general public has difficulty digesting. . . . This precious little book will become widespread reading in basic courses on economics, but every sensible person interested in societal matters and not familiar with law and economics issues should also read it.”

“With this slim volume, Harold Winter joins the ranks of recent economists who have unlocked the mysteries of economic reasoning for the uninitiated. . . . [Trade-Offs] is a wonderful introduction to economics for the layperson, as well as an excellent supplement for use in an entry-level economics course.'' - Choice
Harold Winter is professor of economics at Ohio University.