Recent Books in Macroeconomics
America’s Competitive Edge: How to Get Our County Moving Again. Richard Bolling and John Bowles. New York: McGrawHill, 1982. 272 pp. $14.95. Here Bolling, a Democratic congressman, and Bowles, an investment banker, examine current U.S. economic problems and make policy recommendations for revitalizing the American economy. The authors first chart American economic growth and decline in recent years. Next, they analyze current weaknesses in trade, energy and productivity and present case studies in competitive success (agriculture), competititve failure (the steel industry) and the long term productive power of research and development (the semiconductor industry). Finally, the authors propose three concrete steps for regaining U.S. economic strength: achieve a positive tax policy, balance regulatory policy, and forge a new coalition that involves business, labor, government, and the people themselves. American Industry: Structure, Conduct, Performance. Richard Caves. Foundations of Modem Economics Series. Otto Eckstein, ed. 5th ed. Englewood Cliffs, NJ: Prentice-Hall, 1982. 127 pp. ($10.95 paperbound). A concise account of the core concepts of industrial organization and their applications to public policy. In particular, the book summarizes what economists have discovered by applying the basic concepts of price theory to American industries and teaches students to do likewise. The book treats such topics as the business sector and its organization, the elements of market structure, the large corporation, market conduct and performance, and the promotion of competition and the control of monopoly. It reviews government policies toward business in the United States and illustrates how they should be evaluated and what changes might be considered.