Introduction : Vienna and Chicago, a tale of two schools -- Old and new Vienna : the rise, fall, and rebirth of the Austrian school -- The imperialistic Chicago school -- Methodenstreit : should a theory be empirically tested? -- Gold vs. fiat money : what is the ideal monetary standard? --...

Economics is full of puzzles and paradoxes that often frustrate and challenge everyone, including economists. This engaging book includes fifty puzzles and focuses on three types of paradox. First, everyday observations that appear to belie common sense (such as, why do some supermarket items...