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"We present a model of the creation of social networks, such as political parties, trade unions, religious coalitions, or political action committees, through discussion and mutual persuasion among their members. The key idea is that people are influenced by those inside their network, but not by those outside. Once created, networks can be rented out' to politicians who seek votes and support for their initiatives and ideas, which may have little to do with network members' core beliefs. In this framework, political competition does not lead to convergence of party platforms to the views of the median voter. Rather, parties separate their messages and try to isolate their members to prevent personal influence from those in the opposition"--National Bureau of Economic Research web site

This paper looks at the work of Gary S. Becker, American economist, professor of sociology, friend, and colleague of Kevin M. Murphy. Murphy discusses the traditional approach of Becker's teaching and ideas as they were expressed through his wealth of content and style in course design; his discussions on the role of preferences, technology, and constraints as they influence household production; and his emphasis on the importance of markets and desire for more. Murphy recognizes Becker's teaching style as groundbreaking, unapologetic, and pure economics.

In 1998, health expenditures in the United States accounted for 12.9% of national income-the highest share of income devoted to health in the developed world. The United States also spends more on medical research than any other country-in 2000, the federal government dedicated 18.4 billion to it, compared with only 3.7 billion for the entire European Union. In this book, leading health economists ask whether we are getting our money's worth.From an economic perspective, they find, the answer is a resounding "yes": in fact, considering the extraordinary value of improvements to health, we may

Intro -- Contents -- Acknowledgments -- I. The Effect of Social Capital on Market Behavior -- 1. The Importance of Social Interactions -- 2. Social Forces, Preferences, and Complementarity -- 3. Are Choices "Rational" When Social Capital Is Important? -- II. The Formation of Social Capital -- 4. Sorting by Marriage -- 5. Segregation and Integration in Neighborhoods -- 6. The Social Market for the Great Masters and Other Collectibles -- 7. Social Markets and the Escalation of Quality: The World of Veblen Revisited -- 8. Status and Inequality -- III. Fads, Fashions, and Norms -- 9. Fads and Fashion -- 10. The Formation of Norms and Values -- References -- Author Index -- Subject Index.