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Economics Made Simple: How money, trade and markets really work (Harriman Economic Essentials)

Economics Made Simple: How money, trade and markets really work (Harriman Economic Essentials) [Kindle Edition]

Madsen Pirie
4.3 out of 5 stars  See all reviews (14 customer reviews)

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Product Description

Product Description

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 ( 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.

Product details

  • Format: Kindle Edition
  • File Size: 364 KB
  • Print Length: 194 pages
  • Publisher: Harriman House (16 Jan 2011)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B006JOBMY4
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (14 customer reviews)
  • Amazon Bestsellers Rank: #36,040 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

4.3 out of 5 stars
4.3 out of 5 stars
Most Helpful Customer Reviews
6 of 7 people found the following review helpful
5.0 out of 5 stars Essential enjoyable comprehensive simple guide 9 Feb 2012
Stanislaw Ulam once challenged Paul Samuelson to name one theory in all of the social sciences which is both true and nontrivial. Several years later, Samuelson responded with David Ricardo's theory of comparative advantage: "That it is logically true need not be argued before a mathematician; that is not trivial is attested by the thousands of important and intelligent men who have never been able to grasp the doctrine for themselves or to believe it after it was explained to them"

This book is an excellent primer on the whole field of economics that all those important men should have read.

Dr Madsen Pirie combines his story telling craft with his deep understanding of economic basics to produce a very readable and enjoyable short book on a subject most people would run screaming from. It's brevity and simplicity might annoy the expert, and the purveyors of economic insights who are paid by the word and maintain their mystique with obscurity, but that is its real value.
I wish for instance that Ricardo's theory of comparative advantage was dealt with a bit more deeply as everyday we see politicians ans campaigners clamouring for some protectionist measure without anyone pointing a finger at them and laughing at their ignorance.

He has released a series of videos [...] which are based on chapters of the book. Watch them and share them and then I recommend you buy the book.

Put aside any preconceived thoughts you have on the subject and enjoy the helicopter view of the whole subject. It may just surprise and educate you, it certainly will be enjoyable. And for anyone who is starting any course at any level on economics this is the key book they must have. It provides a backbone onto which deeper analysis can be hung, and if they don't fit onto it maybe they are better being discarded.
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10 of 12 people found the following review helpful
3.0 out of 5 stars the invisible hand writ large 6 Sep 2013
By zob
Format:Paperback|Verified Purchase
This book is written by a leading member of the Adam Smith Institute, so unsurprisingly you get the full blast of free market ideology. Pirie likes to use folksy similes to describe how free markets work, but I can't see what a Chinese cormorant fisherman and global capitalism have in common in the real world. Basically, everything would be hunky-dory if those pesky governments would stop interfering with the market. He might well have a point in a perfect world, but we all know, at least since 2008, that markets do not work because greedy people get in the way. So I can't see why the 99% shouldn't influence the markets, the same way as the greedy 1% do all the time. You need to read this book with a considerable degree of cynicism, bearing in mind that you are taking on board a potentially lethal ideology for some. Oh, apparently there is no poverty really, it's just some people haven't generated enough wealth!
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1 of 1 people found the following review helpful
5.0 out of 5 stars Very interesting! 26 April 2014
By Eleni S
Format:Paperback|Verified Purchase
As someone who has little to no interest in economics, this book did a fantastic job in grabbing my attention and actually teaching me some very important stuff about the world. Highly recommended for people like me!
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1 of 1 people found the following review helpful
4.0 out of 5 stars easy reading 11 Jun 2013
By Daniel
Format:Kindle Edition
Just finished this book. Very well written and it is a good start if you want to learn about this subject. I recomend this book to everyone especially to those who are about to study economics gcse or a levels. could have been in more detail. I have read this book in few hours this evening so its easy reading. Definitely need to read more books as this only scraches the surface.
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1 of 1 people found the following review helpful
5.0 out of 5 stars very very very good book 30 Mar 2013
Format:Kindle Edition|Verified Purchase
A very good beginners book.
Easy and simple explanations, would defiantly recommend this book.
I really really like the book..i
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4.0 out of 5 stars Very clear. 22 Mar 2014
Format:Kindle Edition|Verified Purchase
This is a great little book that introduces economics in a clear, concise and readable way. Anyone who wishes to learn the subject would do well to start here.

Other commentators have complained the the author is too in love with the market. I fear they miss the point. This is an introduction to basic principles, not a critique of implementation or an examination of weaknesses. All that will come later should the reader choose to study more.

And if you enjoy this book then you probably will want to study more.
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Format:Kindle Edition|Verified Purchase
A concise, readable introduction to economic concepts avoiding the dry 'textbook' approach of other similar books. Comprehensive yet not overly detailed.
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