Books by Tyler Cowen

Modern Principles means modern content and modern delivery and Tyler Cowen and Alex Tabarrok deliver with a knack for revealing the 'invisible hand' of economics at work and a unique combination of vivid writing, up-to-date relevant examples and unparalleled online resources, perfect for your principles of economics course. Modern Principles of Microeconomics places an emphasis on the power of incentives which underscores how economics helps us understand why we do what we do (in other words, the decisions we make in the face of incentives in the real world). These are brought to life via examples including a discussion of housing prices and the elasticity of supply, the declining labor force participation rate of young men, the platform economics of free goods like Facebook and Twitter, monetary policy in a pandemic and the politics and economics of trade in the Trump era. Modern Principles of Microeconomics is supported by Achieve, our integrated, online learning system which allows you to engage every student with powerful multimedia resources, an integrated e-Book, robust homework, and a wealth of interactives, creating an extraordinary new learning resource for students. Key features include:170+ Marginal Revolution University videos have been deeply integrated into the text and pedagogy, providing valuable tools for both instructors and studentsAnimated pre-lecture tutorials reinforce in-class learningAccess to an eBook for easy reading and searchingLearningCurve adaptive quizzing offers practice questions and feedbackStep-by-Step graphs and Discovering data activities help students develop their economic thinking

Renowned economist and author of Big Business Tyler Cowen brings a groundbreaking analysis of capitalism, the job market, and the growing gap between the one percent and minimum wage workers in this follow-up to the New York Times bestseller The Great Stagnation. The United States continues to mint more millionaires and billionaires than any country ever. Yet, since the great recession, three quarters of the jobs created here pay only marginally more than minimum wage. Why is there growth only at the top and the bottom? Economist and bestselling author Tyler Cowen explains that high earners are taking ever more advantage of machine intelligence and achieving ever-better results. Meanwhile, nearly every business sector relies less and less on manual labor, and that means a steady, secure life somewhere in the middle-average-is over. In Average is Over, Cowen lays out how the new economy works and identifies what workers and entrepreneurs young and old must do to thrive in this radically new economic landscape.

The separation of fame and merit is a central dilemma Cowen considers in this exploration of the economics of fame. He shows how fame is produced, outlines the principles that govern who becomes famous and why, and discusses whether fame-seeking behavior harmonizes individual and social interests or corrupts social discourse and degrades culture.

Assertions of market failure are usually based on Paul Samuelson's theory of public goods and externalities

In this book the author argues the case for the revival of an important role for monetary causes in business cycle theory, which challenges the current trend towards favouring purely real theories.

A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "e;My Way"e; as the theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality friends or foes? On the whole, argues Cowen in clear and vigorous prose, they are friends. Cultural "e;destruction"e; breeds not artistic demise but diversity. Through an array of colorful examples from the areas where globalization's critics have been most vocal, Cowen asks what happens when cultures collide through trade, whether technology destroys native arts, why (and whether) Hollywood movies rule the world, whether "e;globalized"e; culture is dumbing down societies everywhere, and if national cultures matter at all. Scrutinizing such manifestations of "e;indigenous"e; culture as the steel band ensembles of Trinidad, Indian handweaving, and music from Zaire, Cowen finds that they are more vibrant than ever--thanks largely to cross-cultural trade. For all the pressures that market forces exert on individual cultures, diversity typically increases within society, even when cultures become more like each other. Trade enhances the range of individual choice, yielding forms of expression within cultures that flower as never before. While some see cultural decline as a half-empty glass, Cowen sees it as a glass half-full with the stirrings of cultural brilliance. Not all readers will agree, but all will want a say in the debate this exceptional book will stir.

Cowen argues that the capitalist market economy is a vital but underappreciated institutional framework for supporting a variety of artistic visions. His philosophy stands in opposition to the cultural pessimism of conservatives, neo-conservatives, the Frankfurt School, and some versions of the political correctness and multiculturalist movements.