Comments on: Economics Textbook – John Sloman http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/ Economics Blog - current events and economics essays Thu, 18 Mar 2010 19:46:30 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Anonymous http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/comment-page-1/#comment-5512 Anonymous Sat, 13 Feb 2010 13:00:25 +0000 http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/#comment-5512 Is the 7th Edition better than the 6th? I acquired it recently and I'm having my A-Level exams this year. Is it worthwhile to buy the latest edition? Is the 7th Edition better than the 6th? I acquired it recently and I’m having my A-Level exams this year. Is it worthwhile to buy the latest edition?

]]> By: Recommended Economics Textbook | Economics Blog http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/comment-page-1/#comment-3245 Recommended Economics Textbook | Economics Blog Mon, 20 Apr 2009 09:31:04 +0000 http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/#comment-3245 [...] Sloman Economics is very good. It is aimed at A Level students and first year at university. It goes into quite a lot of theory, yet, you can leave some of this theory out to understand the main principles. [...] [...] Sloman Economics is very good. It is aimed at A Level students and first year at university. It goes into quite a lot of theory, yet, you can leave some of this theory out to understand the main principles. [...]

]]> By: Ken Burdett http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/comment-page-1/#comment-2464 Ken Burdett Thu, 29 Jan 2009 12:01:13 +0000 http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/#comment-2464 Perhaps this is a problem that all are aware of. I have not used the book before, so it is all new to me. The Book seems to confuse changes in the price level and inflation. An example will illustrate my point although there are many other places in the book where it occurs. In chapter 16.3. Figure 16.14, the analysis clearly implies an increase in aggregate demand (in the Keynesian cross part of the diagram), leads to an increase in price in the Agg Demand/Agg supply part of the diagram. A "once and for all" increase in aggregate demand does not (without another mechanism) lead to inflation. I think it is important to distinguish between changes in aggrgate demand that lead to a price increase and changes that lead to inflation (such as an increase in the growth of money supply). Its just a suggestion to help. Ken Burdett Perhaps this is a problem that all are aware of. I have not used the book before, so it is all new to me.
The Book seems to confuse changes in the price level and inflation. An example will illustrate my point although there are many other places in the book where it occurs.
In chapter 16.3. Figure 16.14, the analysis clearly implies an increase in aggregate demand (in the Keynesian cross part of the diagram), leads to an increase in price in the Agg Demand/Agg supply part of the diagram. A “once and for all” increase in aggregate demand does not (without another mechanism) lead to inflation.
I think it is important to distinguish between changes in aggrgate demand that lead to a price increase and changes that lead to inflation (such as an increase in the growth of money supply).

Its just a suggestion to help.

Ken Burdett

]]> By: Chris Petts http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/comment-page-1/#comment-1708 Chris Petts Wed, 22 Oct 2008 12:13:21 +0000 http://www.economicshelp.org/blog/economics/economics-textbook-john-sloman/#comment-1708 Not sure where to pose this question, so maybe slightly random. In an article on the BBC website http://news.bbc.co.uk/1/hi/magazine/7682887.stm John Sloman quoted this: 'The long run is a misleading guide to current affairs - in the long run we are all dead ' JM Keynes I thought this was very interesting as it puts forward the idea that we shouldn't bother to think beyond our own lifetime, our own generation. Which I think is a terrible mistake. To keep demanding increases in personal and government spending simply to keep things looking like we have a vital economy is very dangerous. As we all know by now, natural resources are being stripped from this planet in the quest for never-ending economic growth. I understand that 'sustainability' is an over-used word, yet does anyone believe that we can continue to consume at the rate that we are, seeking ever-increasing levels of luxury at the expense of future generations' ability to survive? Not sure where to pose this question, so maybe slightly random.
In an article on the BBC website http://news.bbc.co.uk/1/hi/magazine/7682887.stm
John Sloman quoted this:

‘The long run is a misleading guide to current affairs – in the long run we are all dead ‘ JM Keynes

I thought this was very interesting as it puts forward the idea that we shouldn’t bother to think beyond our own lifetime, our own generation. Which I think is a terrible mistake.
To keep demanding increases in personal and government spending simply to keep things looking like we have a vital economy is very dangerous. As we all know by now, natural resources are being stripped from this planet in the quest for never-ending economic growth. I understand that ’sustainability’ is an over-used word, yet does anyone believe that we can continue to consume at the rate that we are, seeking ever-increasing levels of luxury at the expense of future generations’ ability to survive?

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