"Palda offers a novel and interesting perspective on ideas familiar to economists but which are not widely shared.This perspective will surely broaden the understanding of the political economy in which we live."
James M. Buchanan, Nobel Prize economics 1986
Did you ever want to understand why some societies are prosperous and peaceful while others live in a torment of discord and poverty?
In this ground-breaking book Filip Palda, Ph.D. in economics from the University of Chicago, the school that has produced the most Nobel Prize winners in economics, explains in a clear and engaging manner for non-experts and economists alike why economics is the science of peace and prosperity and why these twin goals of every society are based on the Principle of Pareto efficiency.
This is the first guide for the layperson to understanding how politics and economics unite to give us the recipe for success and to provide the warning signs of disaster.
Every page provides rich insights into the economics of taxation, the economics of politics (so called Public Choice theory), game theory, and many other parts of economics and delves into important historical episodes to illustrate why Pareto-efficiency is the only feasible route to peace and prosperity. The book is intended for anyone with an interest in understanding economics.