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The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits), by Greg Ip
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An accessible, thoroughly engaging look at how the economy really works and its role in your everyday life
Not surprisingly, regular people suddenly are paying a lot closer attention to the economy than ever before. But economics, with its weird technical jargon and knotty concepts and formulas can be a very difficult subject to get to grips with on your own. Enter Greg Ip and his Little Book of Economics. Like a patient, good-natured tutor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures and major players, this revised and updated edition of Greg's bestselling guide clues you in on what's really going on, what it means to you and what we should be demanding our policymakers do about the economy going forward.
- From inflation to the Federal Reserve, taxes to the budget deficit, you get indispensible insights into everything that really matters about economics and its impact on everyday life
- Special sections featuring additional resources of every subject discussed and where to find additional information to help you learn more about an issue and keep track of ongoing developments
- Offers priceless insights into the roots of America's economic crisis and its aftermath, especially the role played by excessive greed and risk-taking, and what can be done to avoid another economic cataclysm
- Digs into globalization, the roots of the Euro crisis, the sources of China's spectacular growth, and why the gap between the economy's winners and losers keeps widening
- Sales Rank: #256449 in eBooks
- Published on: 2012-12-17
- Released on: 2012-12-17
- Format: Kindle eBook
Review
a handy primer for those not well versed in the subject (Irish Times, March 2013)
From the Inside Flap
Not surprisingly, regular folks suddenly are paying much closer attention to the economy than ever. But economics, with its weird technical jargon and knotty concepts and formulas, can be a tough subject to come to grips with on your own.
Enter Greg Ip and his Little Book of Economics.
Like a patient, good-natured mentor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures, and major players, this revised and updated edition of Greg's bestselling guide clues you in on what the "dismal science" is really all about and why you should care.
A fun, educational journey through the strange, sometimes counterintuitive world of economics, The Little Book of Economics delivers:
- Indispensable insights into everything that really matters about economics and its impact on everyday life
- Crystal clear explanations of crucial topics such as inflation, unemployment, the Federal Reserve, taxes, the budget deficit, and a lot more
- Priceless insights into the real roots of the global financial crisis and its aftermath, and of the United States' slugglish recovery and high unemployment
- Discussions of the dangers posed by risk-taking on Wall Street and soaring government debt
- Thought-provoking suggestions about what policymakers should do about growth, jobs, taxes, the deficit, and regulation going forward
- Expert analyses of globalization, the euro crisis, the sources of China's runaway growth, and why the gap between the rich and everyone else keeps getting bigger
- Special sections in each chapter that demystify the jargon and key concepts to help you understand each subject in detail and keep track of ongoing developments
An accessible, thoroughly engaging look at how the economy really works and how it affects your everyday life, The Little Book of Economics is more than just a great source of information, it's a tool of survival in today's turbulent economic times.
From the Back Cover
Praise for THE LITTLE BOOK OF ECONOMICS
"The Little Book of Economics is a quick, fun, and easy read that you'll want to keep around as a reference, since it's jammed with so much substance that just about any economic issue you're going to encounter is made clear here."
—Adam Davidson, co-founder and co-host of Planet Money, a co-production of NPR and This American Life
"Finally, an economics book that is neither dull nor inscrutable and that won't put you to sleep. Greg Ip gives us a lucid and entertaining understanding of the 'dismal science' and reveals how economic concepts and institutions affect our daily lives. This little gem can turn all of us into sophisticated and educated citizens."
—Burton G. Malkiel, Professor of Economics, Princeton University; author of A Random Walk Down Wall Street and The Elements of Investing
"Greg Ip is one of the world's best economic journalists. The Little Book of Economics will teach you much more than a little about the forces that shape all of our lives."
—N. Gregory Mankiw, Professor of Economics, Harvard University; author of Principles of Economics
"Here's the perfect way to understand the economy without breaking a sweat. Clearly written and easy to understand, The Little Book of Economics guides you through what you need to know. Ip's bright light illuminates places previously darkened by insider jargon and arcane formulae."
—Robert B. Reich, Professor of Public Policy, University of California, Berkeley; former U.S. Secretary of Labor
Most helpful customer reviews
16 of 17 people found the following review helpful.
In just hours, understand the U.S. economy better than most do
By Anders Johnson
If you have any interest in the economy at all, and you should, then there is no reason not to read this book.
Politicians and journalists of all stripes tend to butcher economic concepts. If you're looking for a simple handbook which explains plainly how the economy actually works, and why there are aspects of it that not even experts truly understand, then look no further.
I would venture to say that I got a better understanding of macroeconomics in the 4 hours that it took me to read this book than I got from over a month of macro in my introductory undergraduate econ class. I've read every word of The Economist magazine since 2009, and about 10% of the information here was still new to me.
Obviously, a text of this size is going to leave a lot of things out. There is almost nothing about microeconomics except what is mentioned in passing. Anyone who follows economics is bound to believe that certain topics which are omitted from such a book are more important than certain other topics which are included, but on balance Ip's selection of material is commendable.
As even-handed as the Little Book of Economics is, economic freedom in general doesn't quite get the same well-deserved robust defense which the book makes of international trade in particular. For example, free markets are "unequaled at channeling capital and labor to their most productive purposes,"[p. 147] but with skepticism of markets at a record high, it bears adding that eliminating them completely would spell tyranny and poverty for the masses.
In a world otherwise oozing with economic misinformation, this is a little book you should own. Read it, and also advise your children to read it before they leave high school, because they will inherit the economic challenges which we leave behind.
8 of 9 people found the following review helpful.
Good context for economic news
By Creigh Gordon
This book provides a basic overview of economic activities at the national and international level, in an easy-to-understand everyday language form. I bought the book because I had recently read other economic commentary with a distinct point of view (some might say bias) and wanted to test it against mainstream ideas. For that purpose, as well as a basic introduction, the book worked well.
5 of 6 people found the following review helpful.
How economics works in the real world
By Sunriver Sam
I have undergraduate and graduate degrees in economics but they are based on textbook theories that are not working in the real world. This books describes how the economy is affected by consumers, banks, businesses and government to change outcomes and produce different results. It does a great job of tying micro and macro-economics together as well as providing a global perspective.
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