Ansel M. Sharp,
University of the South Charles A. Register,
Florida Atlantic U - Boca Raton Paul W. Grimes,
Mississippi State University
ISBN: 007298435x Copyright year: 2006
What's New
Social Security Coverage Updated: Sharp/Register/Grimes have updated the Social Security coverage to reflect most recent official forecasts for trust fund balances. The authors have added new coverage to discuss the 2003 Medicare Modernization Act, which includes the new prescription drug benefit.
Analysis of Failure of Economic Reform in China: In the economics systems section, the authors dedicate significant time analyzing China during the 1946-1976 period of pure command and during the post‑1976 reform to markets transition. The book emphasizes the relatively poor performance during command and the remarkable growth China has experienced since reform.
Revised Education Section: The authors have added coverage of new research findings concerning the effects of vouchers and charter schools on student performance.
Government Spending and Taxes: the Seventeenth Edition adds coverage to explain the concept of price elasticity of demand, with two new graphs to illustrate this concept. The discussion of the American tax system has been updated to reflect the most recent changes in the tax code, including the newly created six brackets for the personal income tax. The comparison of US tax rates to those in other countries has been updated. A significant amount of discussion concerning the Reagan tax cuts of the 1980s has been eliminated in favor of a brief discussion of recent reform measures.
International Coverage Updated: The authors have added coverage on outsourcing service jobs as an argument for trade restrictions. They have also updated the EU discussion to account for the latest expansion to 25 nations.
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2006 McGraw-Hill Higher Education