The overall treatment continues to be intuitive rather than mathematical and is strongly oriented towards policy. Peter Lindert was recently awarded the University of California-Davis' Prize for Undergraduate Teaching and Scholarly Achievement. In Chapter 5 on Growth and Trade, there is a new section on how openness to trade can enhance a country's economic growth. In the post-Cold War era, this subject, like all the ones below, will factor significantly into economic decisions faced both by business people and policy makers. These updates to the book are important because the number of countries that use these anti-dumping policies has been rising, and the U.S. is now a major user of these policies and a major target of them.
Emphasis is given here to the speed of transition cold turkey vs. more gradual approaches.
As today's students become tomorrow's international business people, they need to come to learn about these new economic players. The section on the politics of protectionism has been reorganized to focus on winners and losers in protectionism and the various types of political activities such as voting and lobbying, plus the different political institutions and processes. Each chapter has at least ten questions and problems. Every odd-numbered problem will have an answer provided at the back of the text. Students will now be able to check their understanding of the material more effectively.