Essentials of Economics

Krugman, Paul; Wells, Robin

4th ed.

New York: Worth Publishers, Macmillan Learning, 2017

p. 300

In technologically advanced countries such as the United States, Japan, the United Kingdom, Germany, France, and Israel, there is an ongoing exchange of people and ideas among private industries, major universities, and research institutes located in close proximity. The dynamic interplay that occurs in these research clusters spurs innovation and competition, theoretical advances, and practical applications.

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p. 546

The first credit card that allowed customers to carry a balance from month to month (called a revolving balance) was issued in 1959.

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p. 481

This argument, first made by nineteenth-century economist David Ricardo, is known as Ricardian equivalence. II is an argument often taken to imply that expansionary fiscal policy will have no effect on the economy because far-sighted consumers will undo any attempts at expansion by the government. (And will also undo any contractionary fiscal policy, for that manen)

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