- Paperback: 388 pages
- Publisher: W. W. Norton & Co.; Reprint edition (7 Oct 2003)
- Language English
- ISBN-10: 0393324869
- ISBN-13: 978-0393324860
- Product Dimensions: 20.8 x 14 x 2.3 cm
- Average Customer Review: 4.5 out of 5 stars See all reviews (19 customer reviews)
- Amazon Bestsellers Rank: 229,322 in Books (See Top 100 in Books)
Naked Economics: Undressing the Dismal Science
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Wheelan has an anti-Midas touch. If he touched gold he would turn it to life. Burton G. Malkiel, from the foreword --Burton G. Malkiel
Chicago Tribune
Clear, concise, informative, [and] witty.
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First Sentence
In 1989, as the Berlin Wall was toppling, Douglas Ivester, head of Coca-Cola Europe (and later CEO), made a snap decision. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
In 1989, as the Berlin Wall was toppling, Douglas Ivester, head of Coca-Cola Europe (and later CEO), made a snap decision. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
Most Helpful Customer Reviews
111 of 111 people found the following review helpful
Format:Paperback
Having studied economics at degree level and found much of the literature dry and inaccessible (but rewarding when you get into it), I have made it a bit of a hobby reading these sort of "economics is fun" style introductory books. (Note to self: perhaps you should get out more?)
Many of them (e.g. by David Friedman or Steven Landsburg) are a both well informed and a great read. However, they tend to come from just one perspective - a libertarian one which is unable to conceive that governments can do anything but harm nor private enterprise anything but good (this is an exaggeration, but not a huge one).
The strength of Naked Economics is that it takes a more balanced approach without abandoning the "rules" of the economic game. It is also well written, with clear and interesting real-world examples and robust but not overly complex reasoning.
For anyone wanting to read one book on economics which is enjoyable, explains the unique perspective economists have on the world, and is balanced about the range of political views they hold - this is the one.
15 of 16 people found the following review helpful
Format:Paperback
This is a very good for everyone! It explains basic tenetes of economics with examples. After reading this book you should be able to understand following topics at least:
Why a good government is necessary for good economy
Why poor countries remain poor
How Federal Bank/Bank of England etc. decides interest rate
What are inflation and deflation and how they affect our lives
Why government usually cajoles minority groups
How you pay stealth taxes
Why free trade actually helps everyone in long term
How corruption affects economy and well being of citizens
Why environmental groups don't always care for environments
Why sweatshops are good for all of us
Why a good economy should make everyone better off without making anyone worse off
There are no charts or equations. The language is lucid and the book is quite nice to read.
Why a good government is necessary for good economy
Why poor countries remain poor
How Federal Bank/Bank of England etc. decides interest rate
What are inflation and deflation and how they affect our lives
Why government usually cajoles minority groups
How you pay stealth taxes
Why free trade actually helps everyone in long term
How corruption affects economy and well being of citizens
Why environmental groups don't always care for environments
Why sweatshops are good for all of us
Why a good economy should make everyone better off without making anyone worse off
There are no charts or equations. The language is lucid and the book is quite nice to read.
4 of 4 people found the following review helpful
Format:Paperback
At the bottom of the book's cover, it reads: "Explains our world in a way that is (gasp!) actually entertaining." (Book)
"Naked Economics" certainly does not explain the world. It does however provide an overview of the basic economics of our capitalistic world. This in fact narrows down further, as the book is very US-centric. On the good side, it is witty and full of everyday and historical examples that makes it easy and enjoyable to read, even for those lacking basic economics knowledge. Some examples are very similar to subjects that you can find at (subsequent best-seller) "Freakonomics", e.g. the estate agent conflict of interests. On the other hand, you could find yourself expecting deeper analysis, especially when it comes to the Macroeconomics chapters.
In previous reviews (here and at amazon.com) there is a dispute as to whether the author is pro- or anti- government. He in fact explains why governments are essential for economies to function. On the other hand, here and there in the book it becomes apparent that he would like as less government as possible, which is normal given the infamous tradition of the Univ. of Chicago in economics, where he teaches.
Chapter 11 is essentially a dithyramb to globalization; but then again you would expect that when bying such a book. While the chapter provides interesting information, as you read it becomes evident that the author's choice of the arguments of the opposite side in which he responds is biased. The anti-globalization movement is presented more or less as a bunch of naive or mindless youths. As for the environmental problem, he explains why policies should be decided locally, giving no counter-argument whatsoever.
One aspect that I found annoying about this book is that in several cases the author seems to be making PR through it. The most explicit example comes from page 116: "I caddied for more than a decade (most famously for George W. Bush, long before he was the mature world leader that he is today)". Irrespectively of how inept this remark about the world's most unpopular US president is, I bought this book to gain some insight in economics, not public relations.
"Naked Economics" certainly does not explain the world. It does however provide an overview of the basic economics of our capitalistic world. This in fact narrows down further, as the book is very US-centric. On the good side, it is witty and full of everyday and historical examples that makes it easy and enjoyable to read, even for those lacking basic economics knowledge. Some examples are very similar to subjects that you can find at (subsequent best-seller) "Freakonomics", e.g. the estate agent conflict of interests. On the other hand, you could find yourself expecting deeper analysis, especially when it comes to the Macroeconomics chapters.
In previous reviews (here and at amazon.com) there is a dispute as to whether the author is pro- or anti- government. He in fact explains why governments are essential for economies to function. On the other hand, here and there in the book it becomes apparent that he would like as less government as possible, which is normal given the infamous tradition of the Univ. of Chicago in economics, where he teaches.
Chapter 11 is essentially a dithyramb to globalization; but then again you would expect that when bying such a book. While the chapter provides interesting information, as you read it becomes evident that the author's choice of the arguments of the opposite side in which he responds is biased. The anti-globalization movement is presented more or less as a bunch of naive or mindless youths. As for the environmental problem, he explains why policies should be decided locally, giving no counter-argument whatsoever.
One aspect that I found annoying about this book is that in several cases the author seems to be making PR through it. The most explicit example comes from page 116: "I caddied for more than a decade (most famously for George W. Bush, long before he was the mature world leader that he is today)". Irrespectively of how inept this remark about the world's most unpopular US president is, I bought this book to gain some insight in economics, not public relations.
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Most Recent Customer Reviews
best ive read sine hazlitt - and that says a lot
i read lots of popular economics books
my favourite is the 1946 classic ECONOMICS IN ONE LESSON
i have read many books since then. Read more
my favourite is the 1946 classic ECONOMICS IN ONE LESSON
i have read many books since then. Read more
Published 10 months ago by asp
Excellent, gentle introduction to economics
This is a great introduction to market economics. It read very easily and had me interested from the first few pages ("Who feeds paris?", etc). Read more
Published 22 months ago by MaxKolbe
Fun and interesting
Having had little existing knowledge on economics but rather small, piecemeal pockets of information this book tied things together nicely whilst offering new perspectives on... Read more
Published on 22 Mar 2010 by D. Dacey
Briliant
I loved it, it was great book very similar to freakonomics but discuses wider, and cover more topics. It was great reading it definatly would recomend it
Published on 17 Dec 2009 by L. Brooks
Should be titled "In Praise of Capitalism"
This isn't a lousy book but I really didn't enjoy reading it or get very much out of it.
Without resorting to any science or numbers its a reasonable explanation of how... Read more
Without resorting to any science or numbers its a reasonable explanation of how... Read more
Published on 7 Nov 2009 by Pas de plume
A wonderful book
This book is a real treasure! I enjoyed reading it, from the first to the last page. With plain english explains all these economic concepts that I was always wondering what they... Read more
Published on 18 Oct 2009 by gnirut_nala
Clearly explained but read between the lines
For people like me who previously had little knowledge of how economics work, it is a very useful book as many real life examples are given to illustrate topics that might... Read more
Published on 11 Jan 2009 by Elliot Lord
Excellent Book
A very well written economics book, which is neither to technical, nor to anecdotal, just right.
Published on 10 Oct 2008 by jake the cake
Economics for the curious
Wonderful little starter book to get you thinking about economic issues and a right wing way of thinking about them. Read more
Published on 26 Aug 2008 by Mr. Matthew M. Hull
You have got to read this!
I loved this book! As a complete beginner, I was looking for an introduction to economics that cut through - or at least explained clearly - the jargon that had previously put me... Read more
Published on 14 July 2008 by Oxford Blue
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