Economics Explained by Robert L.Heilbroner
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Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.
Containing about 30 percent new material, this edition of ECONOMICS EXPLAINED offers readers not only an invaluable primer on economic theory, but a clear understanding of the causes and treatments of the problems confronting us today, as well as the possible risks and the potential rewards we face in the future. Previous Edition ISBN: 0671884220
Review
The Boston Globe An excellent course in the history of capitalism and socialism, of growth, progress, and decline.
Ms. At last, a patient but not condescending, detailed but not recondite, conversational but not glib discussion of the factors and terms that any reader of the daily newspaper needs to understand.
Robert B. Reich, former Secretary of Labor and author of Locked in the Cabinet In this delightfully written primer, Heilbroner and Thurow sweep away the debris of economic theory to expose the political and social choices lying just below it. –This text refers to an out of print or unavailable edition of this title.
About the Author
Robert Heilbroner, one of America’s foremost economists, is the author of THE WORDLY PHILOSOPHERS and other books. Lester Thurow is the author of many books including Head to Head. He teaches at MIT. –This text refers to an out of print or unavailable edition of this title.
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