Sociology takes a different approach, as it stresses that individual problems are often rooted in problems stemming from aspects of this key insight informed c. wright mills (1959) (mills, 1959) classic distinction between personal troubles and public issues. personal troubles refer to a problem affecting individuals that the affected individual, as well as other members of society, typically blame on the individual’s own personal and moral failings.

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.