Read Chapter 20 – Issue: Economic Stability

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Content:

Opening story: The three bricklayers – 1025

Introduction to the Issue – 1026

Exercise 20.1: Your Solution to Unemployment – 1035

Expanding the Models – 1042

Shared Tools: Business cycle – 1042

Conventional Theory Tools: Fixing recessionary gaps and expansionary gaps – 1043

Conventional Policies – 1051

Liberal Policy: Keynesian (bubble-up) economics – 1051

Conservative Policy: Supply-side (trickle-down) economics – 1053

Radical Theory Tools: Production for profit and production for use – 1057

Radical Policy – 1062

Radical Policy: Socialist (ripple-out) economics – 1062

Discussion story: Financial crisis of 2008 – 1067

Understanding the Issue – 1076

Exercise 20.2: Breaking News! – 1084

Voices on the Economic Stability – 1085

• Radical: Voice, Summary, Talking Points – 1086

• Liberal: Voice, Summary, Talking Points – 1093

• Conservative: Voice, Summary, Talking Points – 1100

The Shared Outcome – 1107

Three-in-One Activity: “Are You the Next Great Economic Thinker?” – 1108

Re-Vote – 1117

Test Yourself, Key Terms, Answer Key – 1118