What Every American Needs to Know About Economics

About the Book

The field of economics certainly is not as exact as the field of science, but there are principles of economics that, when violated, produce bad effects. The laws of supply and demand in a free market work so much better than any other system ever discovered when it comes to creating and allocating goods and services. However, there are always those who find fault with the process and want to substitute something else for the power and efficiency of the marketplace. This something else always seems to require the power of government. It is easy to travel down this path full of promises about how wonderful everything will be if we just insert government power into this or that situation. This book is designed to remind the reader of the magic of the market and the role it has played in producing the world’s most powerful economy.

About the Author

Dr. David F. Rankin is President Emeritus at Southern Arkansas University. He has been a professor at SAU for many years and has taught thousands of students in his field of economics and finance. He holds a B.S.B.A. in management from the University of Arkansas, an M.B.A. in finance from Louisiana Tech University, and a Ph.D. in finance from the University of Mississippi. Dr. Rankin also holds the Chartered Financial Analyst (CFA) designation. He has served as Economic Advisor to the Governor of Arkansas and chairman of the Governor’s Council of Economic Advisers for the past 22 years, having been appointed by then Governor Mike Huckabee in 1996. He has been recognized by the Freedom’s Foundation and the Americanism Educational League for excellence in free market education and is current chairman of the Golden Triangle Economic Development Council. He is married to Toni and they have three children: Curtice, Beth Anne, and John