Tempered with Reality

Economic Theory and the Real World (First Edition)
By A. P. O'Malley
©2013, 120 pages

Paperback list price: $ 48.95

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Tempered with Reality

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$38.95

Summary
    Tempered with Reality: Economics in Theory and Practice analyzes several economic theories and measures each against reality to determine whether or not these theories actually work in the real world.

    The book explains what economics is truly all about: how it works, how it is flawed, and what the future may hold for economies around the world. It examines how the theories that work in perfect equilibrium in the classroom may no longer apply to an increasingly complex business and economic environment.

    The seven chapters of the book address familiar topics such as free markets, unemployment, inflation, fiscal and monetary policy, and the International Monetary Fund. However, the text explores these topics from a very modern perspective and includes pressing, real-world issues such as:

    • Mega-banks and Their Impact on Main Street
    • The Way Derivatives Swarmed Banking Balance Sheets
    • How Governments throughout the “Free World” guaranteed private profits for banks, but socialized losses
    • Outsourcing
    • Massive Sovereign Debt

    Tempered with Reality can be used in Economics and International Economics courses. The accessible style of the writing makes the book appropriate not only for students and academics, but for any reader interested in learning about the important consequences of economic theory run amok.

    The Second Edition will be published Fall 2019. ISBN: 978-1-5165-4307-6

    Anthony O'Malley earned his degree in Business at University College, Dublin (UCD) and his M.A. at Baruch College, CUNY. O’Malley’s current work at UCD’s School of Agriculture and Food Economics revolves around researching innovations within the agri-food industry in Ireland, from farmer to food processor and onwards along the chain. His areas of research include: facilitators and barriers to innovation within the Irish dairy, beef and lamb sectors; building an Innovation Index across the Irish agri-food industry; and how innovation acts as a key component of competitive advantage for the Irish agri-food industry. Professor O'Malley also teaches finance and business management at Dublin’s Portobello Institute.
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    978-1-5165-5173-6
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    Review by Cahir O'DohertyIrish Voice (February 2013)