Richard B. McKenzie - Böcker

This book explains how firms can improve the performance of the people on whom they depend -- workers, customers, suppliers, stockholders, etc. --- by managing the incentives system better. Incentives are not just a matter of money, but a whole range of factors that provide a set of rewards that encourage people to work toward a common goal of organizational success.

This book unravels an array of pricing puzzles from the one captured in the book's title as to why so many prices end with "9". UCI economist Richard McKenzie gets across why prices matter. His book is enthralling, entertaining, and yet at a high scientific level.

With welfare reform at the top of the U.S. Congress agenda, the orphanage debate has resurfaced. The current child welfare system is flawed, operating to the detriment of tens of thousands of children. Foster care, intended to act as a temporary solution, has become inadequate permanent care. While adoption is a solution for some children, many children are difficult to place or legally unavailable for permanent placement. Editor Richard B. McKenzie contends that the resurgence of private orphanages or children's homes will become an option for those children. Rethinking Orphanages for the 21st Century reviews the policy reforms necessary for these homes to become reliable solutions for many of the nation's disadvantaged and abused children. This edited volume includes entirely new works and maintains continuity and cohesiveness as it explores a variety of topics ranging from judicial issues, child maltreatment, history of orphanages, regulation and funding, and solutions for reform. McKenzie, who grew up in an orphanage in the 1950s, includes the first and only large-scale survey of orphanage alumni, involving 1,600 respondents. He found that as a group, they outpaced their counterparts in the general population by significant margins on nearly all levels, including education, income, and attitude toward life.

Child welfare professionals, policymakers, sociologists, social workers, and family studies scholars will find this timely volume of great interest.

With welfare reform at the top of the U.S. Congress agenda, the orphanage debate has resurfaced. The current child welfare system is flawed, operating to the detriment of tens of thousands of children. Foster care, intended to act as a temporary solution, has become inadequate permanent care. While adoption is a solution for some children, many children are difficult to place or legally unavailable for permanent placement. Editor Richard B. McKenzie contends that the resurgence of private orphanages or children's homes will become an option for those children. Rethinking Orphanages for the 21st Century reviews the policy reforms necessary for these homes to become reliable solutions for many of the nation's disadvantaged and abused children. This edited volume includes entirely new works and maintains continuity and cohesiveness as it explores a variety of topics ranging from judicial issues, child maltreatment, history of orphanages, regulation and funding, and solutions for reform. McKenzie, who grew up in an orphanage in the 1950s, includes the first and only large-scale survey of orphanage alumni, involving 1,600 respondents. He found that as a group, they outpaced their counterparts in the general population by significant margins on nearly all levels, including education, income, and attitude toward life.

Child welfare professionals, policymakers, sociologists, social workers, and family studies scholars will find this timely volume of great interest.

This fully updated fourth edition explores microeconomic concepts, with a distinctive emphasis on 'the economic way of thinking' and its applicability to sharp managerial thinking, productivity, and good decision-making. It stands apart due to its strong focus on practical and applied knowledge from the business context and its unique structure (Part I of each chapter develops key economic principles; Part II draws on those principles to discuss organizational and incentive issues in management, focusing on solving the 'principal-agent' problem to maximize the profitability of the firm). There are plentiful real-life scenarios and provocative examples in each chapter. Accessible to MBA students, other graduate students and undergraduates, it is ideal as a core text for courses in Managerial Economics. Requiring an understanding of only basic algebra, this new edition is more concise with a wealth of online resources, including additional online chapters and an online appendix with more advanced mathematical applications.

This fully updated fourth edition explores microeconomic concepts, with a distinctive emphasis on 'the economic way of thinking' and its applicability to sharp managerial thinking, productivity, and good decision-making. It stands apart due to its strong focus on practical and applied knowledge from the business context and its unique structure (Part I of each chapter develops key economic principles; Part II draws on those principles to discuss organizational and incentive issues in management, focusing on solving the 'principal-agent' problem to maximize the profitability of the firm). There are plentiful real-life scenarios and provocative examples in each chapter. Accessible to MBA students, other graduate students and undergraduates, it is ideal as a core text for courses in Managerial Economics. Requiring an understanding of only basic algebra, this new edition is more concise with a wealth of online resources, including additional online chapters and an online appendix with more advanced mathematical applications.

• How Prices Matter rices are ubiquitous, so much so that their importance to the smooth operation of a market economy (even one constrained by extensive polit- P ical controls as is the case in China) can go unnoticed and unheralded. Prices are what all trades, whether at the local mall or across the globe, are built around. Tey facilitate trades among buyers and sellers who don’t know each other, meaning they make less costly, or more socially benefcial, the allocation and redistribution of the planet’s scarce resources. Indeed, as the late Friedrich Hayek is renowned for having observed, prices summarize a vast amount of - formation on the relative scarcity and, hence, the relative cost of resources (with much of the information subjective in nature) that can be known only by ind-i viduals scattered across markets and cannot be collected in centralized loc- tions, except through market-determined prices. 1 Because they summarize, and largely hide from view of buyers, so much i- formation spread among people throughout the world, prices can be puzzling. Why prices are what they are, and change for reasons that are obscured by a multitude of economic events that can extend backward in time and forward into the future, can be mysterious. Explaining many puzzling prices can be - tective work that the modern-day Sherlock Holmes would surely fnd challenging.

For most people, the word "orphanage" conjures up images of poor little Oliver Twist pleading for more gruel. Many are convinced that the history of orphanages is a social welfare record of total devastation to the lives of the children who grew up in them. Indeed, many of the scholars who contributed to Home Away From Home began their research with the conventional negative view of orphanages. But they arrived at far more balanced assessments of the historical record: while the orphanages studied were not perfect, they were often good solutions to dire conditions for children. The future of America's most vulnerable citizens is on the line, says Richard B. McKenzie, the editor of this volume. Today's government-run child welfare system is detrimental to tens of thousands of children. Foster care, intended as a temporary solution, has turned into permanent but inadequate care for many. While adoption is a solution for some children, others are difficult to place or legally unavailable for permanent placement.In re-examining the surprising success of orphanages in the past, Home Away From Home highlights the great value of providing a truly stable environment for youngsters, and it explains how orphanages might again be a powerfully beneficial social institution.

This book argues that Lionel Robbins’s construction of the economics field’s organizing cornerstone, scarcity—and all that has been derived from it from economists in Robbins’s time to today—no longer can generate general consent among economists.

This book argues that Lionel Robbins’s construction of the economics field’s organizing cornerstone, scarcity—and all that has been derived from it from economists in Robbins’s time to today—no longer can generate general consent among economists.

Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.

This book reveals surprising reasons for America's weight gain, and explores such consequences as higher fuel consumption and greenhouses gases, growing health insurance costs, reductions in the wages of heavy people, and reenforcement of rescue equipment.