The highly engaging introduction to thinking like an economist, updated for a new generation of readers.

When economists wrestle with any social issue—be it unemployment, inflation, healthcare, or crime and punishment—they do so impersonally. The big question for them is: what are the costs and benefits, or trade-offs, of the solutions to such matters? These trade-offs constitute the core of how economists see the world—and make the policies that govern it.

Trade-Offs is an introduction to the economic approach of analyzing controversial policy issues. A useful introduction to the various factors that inform public opinion and policymaking, Trade-Offs is composed of case studies on topics drawn from across contemporary law and society.

Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone following current social policy debates.

"The first edition of [Trade‐​Offs] appeared in 2005, and it became a popular introduction to economic reasoning. Now [Winter] is out with a third, 'significantly updated' edition, and I’m raring to introduce readers to his latest insights. The new volume covers issues that appeared in earlier editions, such as the value of a human life, markets for human organs, and copyright law. Issues new to the third edition include eminent domain, criminal law, and healthcare economics. This introduction will startle many newcomers and perhaps even some seasoned economists." - Regulation