Thoroughly revised, expanded, and updated, this classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. The text puts the study of microeconomics, macroeconomics, and globalization into historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This enables students to see economics as a way of understanding the world--a lens for social analysis--rather than as immutable truth or ideal to which the world should be molded.

This edition incorporates new chapters on microeconomics and macroeconomics, as well as more graphs to enhance the theoretical presentations. Unlike the previous editions, it includes many pedagogical tools to encourage student participation and learning. Each of the 56 chapters opens with Learning Objectives, and key terms appear in boldface within the text and are listed at the end of each chapter. Other end-of-chapter material includes Summary of Major Points, Analytical Questions, and References. Online Instructor's Materials are available to professors who adopt the text.