Learning More About Micro Economics Could Serve You Well - Book Review

By Lance Winslow
Well, it appears that many small towns and communities across America are now taking the bull by the horns, and working locally with economic development associations, city planners, and chambers of commerce. They want to get their economies cooking again, and they are tired of bitching and moaning, and complaining about the global economic fallout, the real estate prices, and all "For Lease signs" in the shopping centers of businesses which are no longer in business.

The city governments know they need the tax revenue, the small business people want regulations reduced, and people quite frankly want jobs. But before you go and join one of these organizations or start putting in your two cents, I believe you need to know a little bit about microeconomics. Now, you can probably go online, or go to the bookstore and pick up a book on the topic. However, if you really want to learn the fundamental principles of microeconomics, I recommend that you read some older textbooks so you have a good working base knowledge.

I realize of course that many people have not read an economics book since college or high school, but it's time that you pull out one of your old textbooks, or get online and go buy a microeconomics book to help you refresh your memory. Let me recommend a couple of such books that I have in my personal library which has helped me very much, not only with my own personal working knowledge, and my writing, but also my ability to explain microeconomics to others when I'm sitting in symposiums, conferences, or talking with other business leaders;

1. "Microeconomics," by Edwin G. Dolan and David D. Lindsay, 1986
2. "Micro Economic Theory," by Dominick Salvatore, 1974

Indeed, I recommend these two books, or books like them. Many of the new economics books are far too politically correct, and somewhat jaded in their viewpoint of capitalism. Capitalism and free market systems are quite simple and on the micro economic level you can watch things happen in real-time, as long as you understand what is going on, you can help increase sales, increase tax revenue, and get your city moving again. Please consider all this.