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195 Academic Economics, 26 Addiction, 4–6, 123–24, 163N. 7; Gambling, 125–26, 127 Addicts, 28–29, 35, 78 Advertiser Index Academic economics, 26 Business Week (magazine), 65 Addiction, 4–6, 123–24, 163n. 7; gambling, 125–26, 127 Capitalism, 1, 7, 26, 143, 158; and sex- Addicts, 28–29, 35, 78 ual inhibition, 116 Advertiser, 106 Catholics, 100 Advertising, 56–57. See also Chase, 133–36 Marketing Choice, 21, 24–25, 120, 160, 174n. 15; Af›uent Society, The (Galbraith), 6 of action vs. preference, 120; Agriculturalism, 97–98 informed, 112; lifestyle, 146; and AIDS, 118 smoking example, 67–68. See also Albert, Michael, 57–62 Free choice; Rational choice; Sexual Alcoholics, 21–22, 33–34, 87, 153 choice Anarchists, 100 Choice set, 9, 22, 30, 79, 84, 152; dis- Anderson, Elizabeth, 67 satisfaction with, 115–16; and free Anonymity, 130–32 will, 15, 16, 19; and sour grapes phe- Antitrust efforts, 97, 99 nomenon, 88 Aristotle, 26, 70–72, 75, 138 Cigars, 49. See also Smoking example Arts, 157. See also Television Clark, John Maurice, 26–27 Assiter, Alison, 123 Clinton Democrats, 97 Autonomy, 75–79 Clotfelter, Charles T., 126, 135 Collins, Jim, 102 Bake sale example, 126–27 Commentary (periodical), 3 Bankruptcies, 145–46, 149. See also Commercial banks, 142 Debt Communists, 100 Bauman, Bill, 108 Community, 156, 157–58 Bell, Daniel, 92, 101, 102 Competition, 58, 60, 62–66, 96, 148; Bentham, Jeremy, 25 ef‹ciency of, 26; in television, 108 Better Business Bureau, 130 Complex element example, 80–85 Biological makeup, 41 Compulsive shopping, 98 Boland, Lawrence, 37 Con›ict, 73, 117–18, 132 Bowles, Samuel, 41 Con›icted agents, 31 Brennan, Timothy, 33, 87–88 Congress, U.S., 130 Brokering style, 105–6, 156 Conservatives, 13, 99, 117, 137; and Bronfenbrenner, Martin, 31–32 free markets, 159–60; political Budget constraint, 47–48 Right, 1–2 195 196 Index Consumer credit, 137–54; and debt, Deregulation, 97. See also Antitrust 145–47; and loans, 137–40; and efforts macroeconomic bias, 147–49; rise of, Desire, 18, 29, 33, 70 142–44; and time, 140–41; and work, Diner’s Club (credit card), 145 149–54 Discounting functions, 132–33 Consumer culture, 102, 169n. 12 Discretionary spending, 2 Consumers, 26, 62, 88, 106, 138; and Dissent ( journal), 3 gambling, 125–26; and market Divorce, no-fault, 121 forces, 8–9; of pornography, 123; Drugs, recreational, 127. See also and sexual choice, 115 Addicts Consumer society, 138 Dworkin, Gerald, 76–77 Consumption, 97–98, 110, 143 Consumption bundle, 84–85, 152 Eagleton, Terry, 101 Contract law, 176n. 16 Economic growth, 92–93, 138, 140, 147 Cook, Phillip J., 126, 135 Economic rationality, 33 Corruption, 127 Economic Report of the President, 97 Cost-bene‹t focus, 159 Economics (Samuelson), 9 Cost consciousness, 107 Economic theory, 26 Cost of living, 146 Economies of scale, 157–58 Credit. See Consumer credit Economists, 15, 18, 20, 23, 41; and sex- Credit cards, 145 ual behavior, 115 Crime, 108, 125 Edgeworth Box, 43–44 Critics, 6, 42, 105–9 Education example, 85–86 Cross, Gary, 150 Ef‹ciency gains, 155. See also Cultural elitism, 175n. 12 Inef‹ciency Cultural imperialism, 91 Ellis, Havelock, 116–17 Cultural studies, 3 Elster, Jon, 167n. 23 Culture, American, 106 Emancipation Proclamation, 119 Cummings, Tom, 136 Entertainment industry, 8. See also Cuneo, Michael, 100 Television Customer, 106. See also Consumers Equalization efforts, 2–3 Ethicist, 27 Dean, Carolyn, 123 Europe, 128 Debt, 145–47, 148. See also Bankrupt- Evaluative criterion, 91 cies Explanatory structure, 32 Default, 140 Exploitation, 43–46 De‹cit ‹nancing, 137 Exponential discount function, 34–35 Delayed costs, 141 Externalities, 49–50, 74 Demand curves, 135–36 Democratic Socialist, 122 Fabian, Ann, 177n. 3 Density, 177n. 5 Farsighted self, 39 Department of Agriculture, U.S., Federal Reserve Bank, 148 110–11 Federal Trade Commission, 130 Department stores, 143 Feminists, 118, 123 Dependence effect, 8 Financial institutions, 98, 145 Index 197 First Amendment, 65 Gross Domestic Product (GDP), 96, Food, 106, 111 160–61 Food provisioning, 95, 110 Frankfurt, Harry, 12, 28–29, 33, 70, Hahnel, Robin, 57–62 72, 78; and free will, 15–20, 46, 66; Hall, Robert E., 167n. 23 and homo economicus, 23–24; and Harless, Andrew, 146 intrinsic preferences, 172n. 23 Harrington, Michael, 7 Free choice, 3–4, 15–18, 37, 112; and Harsanyi, John, 165n. 5, 171n. 15 marriage, 122; and sex, 115, 117–20 Hausman, Daniel M., 36, 165n. 4 Freedom, 170n. 9; negative, 100 Hayek, Friedrich, 164n. 10 Free market, 1, 13, 146, 158, 159–60; Health, 9 and tastes, 41, 63 Health insurers, 148 Free-market economy, 15 Health sciences, 111 Free will, 12–13, 15–20, 46–47, 66, Hermeneutics, 103 165n. 1 Hewlett, Sylvia, 122 Freud, Sigmund, 174n. 15 Higher-order preference structure, 71 Friedman, Milton, 15, 27, 37 Hirschman, Albert, 7–8, 11, 31, 42, 117, 168n. 4 Galbraith, John Kenneth, 6–8, 41, 76, Hirschman distinction, 8 147 Hollis, Martin, 21 Galbraithian argument, 8 Homo economicus, 23–24 Gallagher, Maggie, 121 Homosexuality, 75–76. See also Gays Gambling, 4, 102, 125–36, 142, 177n. and lesbians 3; addiction to, 125–26, 127; and the Hot dog example, 63–64, 168n. 11 chase, 133–36; and economic invest- Household Finance Corporation, 145 ment, 127–28; legalized, 128–30; and Household production, 150 privatization, 130–32 Human agent, 23 Gays and lesbians, 69–70, 118, Human condition, 17 169n. 1 Hume, David, 97 Gender equality, 118–22 Hyperbolic discount function, 34–35 General Motors, 76 Gerbner, George, 106–7 Impulses, 71 Gergen, Kenneth, 102 Impulsive self, 39 Gitlin, Todd, 3 Incentive, 5 Goodman, Robert, 128, 131, 135 Income, 47, 138, 140, 147, 160. See Goods, 98, 127, 144; and services, 52 also Wage Goodwin, Neva R., 169n. 12 Income inequality, 2–3 Government, 13, 95–97, 156, 159; and Indifference curve(s), 47, 52–53, 58, 81 debt, 147–48; and gambling, 129–30; Inef‹ciency, 48, 49, 55, 65–66, 73–75; role of, 98–103 and market mechanisms, 109–10; Gray, John, 176n. 5 and monopolization, 58 Great Britain, 122, 123 In›ation, 146, 147 Great Depression, the, 99, 137 Installment buying, 141–44 Green, Tina R., 103 Interest, 137–40, 143–44 Gross, Karen, 149 Internal con›ict, 37, 69–70 198 Index Internet, 4 Lowest common denominator, 2 Investors, 128 Lukes, Steven, 161–62 Irrationality, 38. See also Rational choice Macroeconomy, 96 Mainstream economics, 5 Jeffrey, Richard, 171n. 21 Mainstream economists, 6, 27 Journal of Addictive Behavior, 4–5 Mandeville, Bernard, 24–25 Joyce, Kathleen, 126, 129 Marcum, Jess, 129 Juster, F. T., 150 Marginal analysis, 26–27 Market economies, 13, 17, 105, 113, Katona, George, 164n. 10 146 Keillor, Garrison, 174n. 4 Market failure, 41–66, 91–103; and Kelsey, D., 165n. 6 exploitation, 43–46; and preference Keynes, John Maynard, 137, 161 production, 42–43, 49–51 Kuran, Timur, 132, 167n. 21 Market forces, 1–2, 16, 50, 72, 102–3; and consumers, 8–9; and shaping of Labor, 2, 24, 26 tastes, 40, 41, 47 Laibson, David, 34, 36, 39, 145–46, Market functioning, 20 176n. 16 Marketing, 6–7, 54–57, 64–66, 74, Laissez-faire, 100 174n. 5; and tastes, 43–46, 55–57; Lambro, Donald, 173n. 12 and unpreferred preferences, 133 Lane, Robert, 42 Market pathology, 8 Language, 18, 115 Marriage, 115, 121–22 Lasch, Christopher, 100 Marx, Karl, 26 Las Vegas, 128–29. See also Gambling Massachusetts, 135 Leach, William, 92, 105, 143 Massachusetts Center for Compulsive Leete, L., 150–51 Gambling, 136 Lesbians and gays. See Gays and les- Mathematics, 18 bians Maximization model, 86 Lesieur, Henry, 133 Maximizing individual, 37–38 Lewis, Michael, 105 May, Rollo, 116, 117–18 Liberals, 2–3, 7, 160; traditional, McCain, Roger, 83 99–100, 118 McChesney, Robert W., 65, 105, 175n. Liberation, 118–19 10 Libertarians, 3, 100–101, 118, 173nn. McDonald’s (restaurant chain), 9–10; 12–13 and second-order preference, 11, 25 Life expectancy, 4 McPherson, Michael S., 36, 165n. 4 Liquidity, 36 Mead, Margaret, 123 Living standards, 130–31 Meat-eater example, 30, 86–87 Loans, 140–41, 143–44, 148. See also Media. See Television Consumer credit Medoff, James, 146 Locke, John, 24–25 Metaphysics, 37–38 Loss, 133–36 Mill, John Stuart, 12, 26, 83 Lotteries, 125, 126–27, 129–30, 135–36. Mishan, Ezra, 118, 123 See also Gambling Molinaeus, Carolus, 139 Index 199 Monetary exchange, 106 Pollution, 51 Monetary transfers, 96 Pollution, auto, 156 Monopolization, 58–62 Popular culture, 102–3 Moral responsibility, 38–39 Popular/public opinion, 105, 109 Multiple selves/multiple utility model, Population shift, 131 32–34, 36–40, 42, 79, 132–33 Populism, 113 Pornography, 118, 122–24 Nashville/Paris example, 22–23 Postmodernism, 101–3 Nelson, Robert, 166n. 18 Poverty, 7, 42 Neoclassical economists, 6 Powelson, John P., 173n. 9 Neoclassicism, 25, 28, 32, 68 Precommitment, 129, 131, 133 New Jersey, 157 Preference change, 6, 32, 39–40, 41, 57, New Right, 102 75; and market imperfection, 52–55; New York Times, 65 and primitive economy example, Nicomachean Ethics (Aristotle), 70–71 44–45; and television, 107; and time, Nonpro‹t enterprises, 1 132–33; and weight management, Normative analysis, 39, 74, 78 112–13 Preference improvement, 46–48, 53 Obesity study, 110–11 Preference manipulation, 7, 8, 93 Objects of valuation, 18 Preference ordering, 11, 17, 18, 167n. Oligopoly, 66, 107 19; con›ict in, 67. See also Prefer- Orthodox choice theory, 10 ence(s), ‹rst-order; Preference(s), Other America, The (Harrington), 7 second-order; Preference(s), third- Overborrowing, 140. See also Con- order sumer credit Preference production, 6, 42, 52 Overtime, 151–52 Preference rankings, 28, 30, 32–33, 38, Overwork, 152, 178n.
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