How do banks work? What does the City do? Why do prices rise or fall? Is competition wasteful? How can we create more wealth? What causes globalization and how does it affect people?
This book answers these and other questions, not in the way that economics textbooks do - with graphs, abstract models, jargon-ridden theory, and mathematical equations - but through narrative and lucid explanation rooted in everyday experience and common-sense intuitions.
This is a personal school of economics for anyone who has ever wanted to know how money, trade and markets really work. The study of economics has never been so enjoyable - or eye-opening.
About the Author
Dr Madsen Pirie is President of the Adam Smith Institute (www.adamsmith.org) and Senior Visiting Fellow in Land Economy at the University of Cambridge. He has frequently appeared on television and radio, including (in 2011) Reuters TV, CNBC, Sky News, Radio 4, and the BBC World Service. Madsen regularly writes for newspapers and appears on radio and TV programmes. He has recently published articles in the Times, Telegraph, Guardian, Spectator, Mail on Sunday, Sunday Times, and Sunday Post, among others. In 2011 his birthday (late August) was highlighted in the Times as their 'featured birthday' and he was awarded the National Free Enterprise Award in 2010, presented by Andrew Neil.