Economics

The Second Edition of Economics Actually (2023) substantially improves our previous introduction to Lonergan’s discovery of two-flow economics. We believe the following changes to structure, style and content will further enhance reader engagement and understanding. Structurally, we have added to, as well as modified, the subsections to make the book easier to navigate. Stylistically, strategic…

Part II focuses on how actual businesses operate in the productive process. It asks: What is happening in concrete situations? Its results shed further light, with additional detail, on how the New Standard Model will overcome the cluster of errors in current mainstream practice, domestically and internationally.

Part I uncovers the mechanical structure of economic process essential to understanding any economic event, aggregate of economic events and, for that matter, any economy. It establishes the fact that in any economy there are two main types of production and provision and five monetary functions.