Famous Fables of Economics

Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg Graduate School of Management, Northwestern University, where he has taught since 1990. Spulber is also Professor of Law at the Northwestern University Law School.

"This book is important for understanding how economic principles can be applied to real-world problems. Professor Spulber discusses nine important myths that are often cited in the economics profession. These myths have important lessons for a number of current policy issues such as the Microsoft case, the supposed superiority of Betamax over VHS and the supposed current stock market bubble." Jack Carr, University of Toronto. "Famous Fables of Economics is a welcome addition. Students will learn that fables and myths should not be accepted at face value. More importantly, they will see how economics can be used to challenge these myths. The book will prove useful in an array of courses, especially those that deal with policy issues." Roger D Blair, University of Florida.

• Acknowledgements. Introduction: Economic Fables and Public Policy: Daniel F. Spulber.1. The Lighthouse in Economics: Ronald H. Coase.2. The Voluntary Provision of Public Goods? The Turnpike Companies of Early America: Daniel B. Klein.3. The Fable of the Bees: An Economic Investigation: Steven N. S. Cheung.4. The Fable of the Keys: Stan J. Liebowitz, and Stephen E. Margolis.5. Beta, Macintosh, and Other Fabulous Tales: Stan J. Liebowitz and Stephen E. Margolis.6. Delivering Coal by Road and Rail in Britain: The Efficiency of the "Silly Little Bobtailed Wagons": Va Nee L. Van Vleck.7. The Acquisition of Fisher Body by General Motors: Ronald H. Coase.8. The Fable of Fisher Body: Ramon Casadesus-Masanell and Daniel F. Spulber.9. Sharecropping: Steven N. S. Cheung.10. Predatory Price Cutting: The Standard Oil (N.J.) Case: John S. McGee.11. Another Look at Alcoa: Raising Rivals' Costs Does Not Improve the View: John E. Lopatka and Paul E. Godek.12. How Much Did the Liberty Shipbuilders Learn? New Evidence for an Old Case Study: Peter Thompson.13. Financial Legends: The Economist.Index.