Question

In 300 words or less please talk about In the book CPE( cocktail party economics) , the authors talk about the difficulty facing governments of solving equity problems without negatively affecting efficiency. Specifically they look at inheritance taxes. Find another example that illustrates this point. Point out the efficiency and the equity implications.

Answer 1

Cocktail Party Economics highlights the concepts of economics, bringing them to light in a simple way without taking away from the importance of each theory and thought. This is a book written to engage its readers and interest them in the idea of the economic thought process. Addressed to “students everywhere especially those who like economics .Cocktail Party Economics is a skillful portrayal of the process of economic thought, which entertains young readers due to the author’s sometimes silly and sarcastic moments. Economics may sometimes appear to be a difficult subject filled with elaborate terms.There are many Gossip Columns within the book each one displaying the lives of an economist and their contributions to today’s economic society. These are especially important to this work of literature because they highlight the key concepts developed by deceased economists and how these concepts are used in today’s day and age. The reader is consumed by the column and what it has to offer a chance to understand the idea of economics on a greater scale. Visualization is an essential factor of Cocktail Party Economics, as it is aimed at a student audience. Visuals in which a student sees within the text help the individual to expand their learning and retain more information.The use of charts offers the reader a chance to refer to them in the case of confusion or misunderstanding. These visual aids help each reader on their journey of understanding the theories of economics. Either in the form of a chart or picture, Cocktail Party Economics challenges readers to apply their knowledge to understand the text better through the visual aids. Overall, Cocktail Party Economics is a great tool to use when trying to grasp the idea of economics and the impacts of the theories on modern society. The book contains a great deal of aids in the form of quotes, Gossip Columns, charts, and pictures, helping the reader to better their understanding. The authors make the text easy to read, using a somewhat story-telling setting.

Cocktail Party Economics is a well written text, composed in a conversational style text, which turns big ideas into small talk. Eveline J. Admoait and Richard G. Maranta provide an interesting take on their view of the economic world. The text takes complex economic ideas and enables readers with no previous background of economics to comprehend the ideas being exemplified. Admoait and Maranta also make the book easily relatable because they use real life examples that can be applicable in day to day life. The style and witty humor throughout the text not only make it easy to read but also extremely enjoyable.

Admoait and Maranta mentioned in the text that they originally had the intention of writing Cocktail Party Economics with no graphs. This being said, once they started the writing process they realized this is next to impossible when discussing economics. I feel as if this realization was very beneficial to the readers. For a first time reader of any economic material the content could have been much more confusing without any visuals. The graphs throughout the text were simple and did not provide much detail. The straightforward style helped make the theories more manageable for the reader to better understand the connection between various different key elements of economic activity. The simple style of the graphs is another great tool used in Cocktail Party Economics, which contribute to what makes the text so enjoyable to read.

In an enjoyable and witty text Admoait and Maranta present the basic foundation to understanding the economic world by simplifying intellectual economic theories and concepts but never dumbing it down. Cocktail Party Economics is a great book for people of all ages who have no previous education in economics because it presents the theories in a basic and understanding manner. It can also be a great read for people who do have a background in economics as it gives the concepts a different and more pleasurable and beneficial spin.