How markets work : supply demand and the real world pt. 1. The theory of markets pt. 2. Market processes when information matters pt. 3. Labor markets pt. 4. Social ethical and political considerations An accessible and enjoyable look at the way the market REALLY works! How Markets Work presents a new and refreshing introduction to elementary economics. The venerable theory of supply and demand is reconstituted upon plausible and defensible assumptions concerning human nature the law and the facts of everyday life in short the Real World. The message is that markets differ in ways that matter. Starting with a brief survey of property and contract law the lectures develop several ideal types of markets such as credit assets and labor while illuminating the similarities and differences among them. Care has been taken to ensure that the reformulations presented are accessible to students and compatible with a variety of non mainstream traditions in economic thought