Famous Fables of Economics critiques some of our most cherished stories of market failure.

"I had the good fortune to grow up in a wonderful area of Jerusalem, surrounded by a diverse range of people: Rabbi Meizel, the communist Sala Marcel, my widowed Aunt Hannah, and the intellectual Yaacovson. As far as I'm concerned, the opinion of such people is just as authoritative for making social and economic decisions as the opinion of an expert using a model." Part memoir, part crash-course in economic theory, this deeply engaging book by one of the world's foremost economists looks at economic ideas through a personal lens. Together with an introduction to some of the central concepts in modern economic thought, Ariel Rubinstein offers some powerful and entertaining reflections on his childhood, family and career. In doing so, he challenges many of the central tenets of game theory, and sheds light on the role economics can play in society at large. Economic Fables is as thought-provoking for seasoned economists as it is enlightening for newcomers to the field.

Famous Fables of Economics critiques some of our most cherished stories of market failure.

In this imaginative and illuminating work, Annabel Patterson traces the origins and meanings of the Aesopian fable, as well as its function in Renaissance culture and subsequently. She shows how the fable worked as a medium of political analysis and communication, especially from or on behalf of the politically powerless. Patterson begins with an analysis of the legendary Life of Aesop, its cultural history and philosophical implications, a topic that involves such widely separated figures as La Fontaine, Hegel, and Vygotsky. The myth’s origin is recovered here in the saving myth of Aesop the Ethiopian, black, ugly, who began as a slave but become both free and influential, a source of political wisdom. She then traces the early modern history of the fable from Caxton, Lydgate, and Henryson through the eighteenth century, focusing on such figures as Spenser, Sidney, Lyly, Shakespeare, and Milton, as well as the lesser-known John Ogilby, Sir Roger L’Estrange, and Samuel Croxall. Patterson discusses the famous fable of The Belly and the Members, which, because it articulated in symbolic terms some of the most intransigent problems in political philosophy and practice, was still going strong as a symbolic text in the mid-nineteenth century, where it was focused on industrial relations by Karl Marx and by George Eliot against electoral reform.

In this seminal work, Bernard Siegan traces the history of onstitutional protection for economic liberties in the United States. He argues that the law began to change with respect to economic liberties in the late 1930s. At that time, the Supreme Court abdicated much of its authority to protect property rights, and instead condoned the expansion of state power over private property. Siegan brings the argument originally advanced in the .first edition completely up to date. He explores the moral position behind capitalism and discusses why former communist countries flirting with decentralization and a free market (for instance, China, Cambodia, Vietnam, and Laos) have become more progressive and prosperous as a result. He contrasts the benefits of a free, deregulated economy with the dangers of over-regulation and moves towards socialized welfare—most specifically as happened during Franklin Roosevelt's presidency. Supporting his thesis with historical court cases, Siegan discusses the past and present status of economic liberties under the Constitution, clarifies constitutional interpretation and due process, and suggests ways of safeguarding economic liberties. About the original edition, Doug Bandow of Reason noted, "Siegan has written a vitally important book that is sure to ignite an impassioned legal and philosophical debate. The reason—the necessity—for protecting economic liberty is no less than that guaranteeing political and civil liberty." Joseph Sobran of the National Review wrote, "Siegan...makes a powerful general case for economic liberty, on both historical and more strictly empirical grounds.... Siegan has done a brilliant piece of work, not only where it was badly needed, but where the need had hardly been recognized until he addressed it." And Edwin Meese remarked that, "This timely and important book shows how far we have drifted from protecting basic liberties that the Framers of the Constitution sought to secure. I recommend it highly." This new, completely revised edition of Economic Liberties and the Constitution will be essential reading for students of economics, history, public policy, law, and political science.