James d. Gwartney

Part 2 Final Thoughts
Part 3: Ten Key Elements of Economic Thinking About Government
Element 3.1: Protect Rights and Produce Limited Goods and Services
Element 3.2: Regulate Monopolies

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Element 3.3: Mitigate Market Failures
Element 3.4: Understand Political Pressures
Element 3.5: Adopt Rules to Limit the Influence of Special Interests
Element 3.6: Avoid Excessive Spending and Deficits
Element 3.7: Avoid Subsidies Not Based on Economic Logic
Element 3.8: Watch out for Inefficiencies Even From Useful Subsidies
Element 3.9: Central Planning Has Never Worked
Element 3.10: Competition and External Anchors Are Key
Part 3 Final Thoughts
Part 4: Twelve Key Elements of Practical Personal Finance
Element 4.1: Discover Your Comparative Advantage
Element 4.2: Increase Your Value to Others
Element 4.3: Budget Your Spending and Saving
Element 4.4: Finance Wisely
Element 4.5: Two Ways to Get More out of Your Money
Element 4.6: Plan for the Unexpected
Element 4.7: The Power of Compound Interest
Element 4.8: Diversify Your Assets
Element 4.9: Realize No One Can Consistently “Beat the Market”
Element 4.10: Match the Length of Your Investments to the Timing of Your Needs
Element 4.11: Reduce Your Risks
Element 4.12: Use Insurance to Protect Yourself
Part 4 Final Thoughts
Concluding Thoughts and Acknowledgments
Footnotes
Readings Featured in the Elements
The Power of Incentives
The Road Not Taken

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5
Opportunities and Costs
Markets and Marginalism
Specialization and Wealth
Sacrificing Lives for Profits
I, Pencil, My Family Tree
Creating Jobs vs. Creating Wealth
What Is Seen and What is Not Seen
Gross Domestic Product—What is it and how is it measured?
Private Property and Opportunity Costs
Running Out of Agricultural Land
Censoring Pleas for Help
Markets and Freedom
Unfair Competition with the Sun
Not Yours to Give
Politics and Foreign Trade
Energy Production versus Conservation
Social Cooperation and the Marketplace
A Case for Constitutional Reform in Ukraine