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The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits) [Hardcover]

Mohamed El-Erian , Greg Ip
5.0 out of 5 stars  See all reviews (6 customer reviews)

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Book Description

21 Sep 2010 Little Books. Big Profits (Book 28)
One positive side–effect of the recent financial market meltdown that toppled giant, century–old institutions and cost millions their jobs is that it created a strong desire among many Americans to better understand how the U.S. economy functions. In The   Little Book of Economics , Greg, Ip, one of the country’s most recognized and respected economics journalists, walks readers through how the economy really works. Written for the inquisitive layman who doesn’t want to plow through academic jargon and Greek letters or pore over charts and tables, The Little Book of Economics  offers indispensible insight into how the American economy works – or, doesn’t. With engaging and accessible prose, the book Provides a comprehensive understanding of each aspect of our economy from inflation and unemployment to international trade and finance Serves as an insider’s guide to the people and institutions that control America’s economy such as the Federal Reserve and the federal budget Explains the roots of America’s current economic crisis and the risks the country faces in its aftermath, such as stratospheric government debt, while offering advice on overcoming these threats Walks readers through the basic concepts and terminology they need to understand economic news Punctures myths and political spin from both the left and the right with candid and often surprising insight A must read for anyone who wants a better grasp of the economy without taking a course in economics , The Little Book of Economics  is a unique and engaging look at how the economy works in all its wonderful and treacherous ways.

Product details

  • Hardcover: 272 pages
  • Publisher: John Wiley & Sons; 1 edition (21 Sep 2010)
  • Language: English
  • ISBN-10: 0470621664
  • ISBN-13: 978-0470621660
  • Product Dimensions: 13.7 x 2.5 x 18.8 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Bestsellers Rank: 384,657 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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"A guide to understanding ′the dismal science′ and how economic concepts and institutions affect our daily lives" ( The Economist , December 2010) "...a must read in economic literacy." ( USA Today , November 29, 2010) "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 "The book is an excellent introduction to basic economic concepts and ideas explained in clear and thoughtful ways. A must read in economic literacy." " — Nouriel Roubini , Professor of Economics, New York University; Co–founder and Chairman of Roubini Global Economics "Greg Ip has the rare talent of making even the toughest topics easy to understand. In The Little of Book of Economics , he tells you what you need to know with superb clarity and memorable examples. I recommend this book to anyone who wants a clear explanation of how the forces of economics shape the world." — Michael J. Mauboussin , Chief Investment Strategist, Legg Mason Capital Management; Author of Think Twice

From the Inside Flap

After the global financial panic and recession of 2007–2009, you don′t have to be president or a hedge fund manager to know that "It′s the economy, stupid." Yet while the economy dominates the headlines, how it works and who influences it remain a mystery to most people. In The Little Book of Economics , Greg Ip, an award–winning journalist renowned for making complex economics easy to understand, walks you through how the economy really works. You′ll learn: How psychology and the Federal Reserve drive business cycles How a financial crisis can transform a recession into a depression The surprising effects of fertility rates, lawyers, and ideas on economic growth Whether the United States faces a lost decade like Japan did in the 1990s The causes of inflation, how it destabilizes society, and why deflation is even worse How government debt can sometimes help end a recession but, other times, bring on disaster—and how to tell the difference The symptoms of financial crises and why they often occur in election years What goes on inside the Federal Reserve, what it does when interest rates are zero, and why its power to print money has made it the world′s financial fireman You can′t understand the American economy without recognizing the growing influence of the rest of the world. So The Little Book of Economics digs into globalization, how it made America′s mortgage crisis possible, how it′s exploited by China to spur growth, and how it makes the United States richer even as it widens the gap between winners and losers. One side effect of the deepest economic downturn since the Great Depression is that it has ignited a fresh desire among citizens and investors to better understand the economy. The Little Book of Economics is an accessible, engaging, and entertaining guide to all of the wonderful and wicked ways in which the economy functions and what it all means to you.

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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

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3 of 4 people found the following review helpful
5.0 out of 5 stars A Great Book 21 Dec 2010
By Gids
Format:Hardcover|Verified Purchase
OK so it'll never teach you enough to be an economist but it does give you enough knowledge to make sense of the news and start to enable you to draw your own conclusions - economics is an art rather than a science.
If you enjoyed Freakonomics and it whetted your appetite for economics this book is a must.
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5.0 out of 5 stars A good source of knowledge. 29 Nov 2013
This book explains in clear simple English why stuff happens, what makes it happen and what happens when things go wrong. It does tend to be US centric and most of the examples are related to occurances in America although they are well known enough to be relevant to a UK reader.
All in all, a very good read.
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5.0 out of 5 stars When a book makes sense . 19 April 2013
Format:Hardcover|Verified Purchase
I found this Little Book of Economics great value and the book is exactly what it purports to be. A quick, clean efficient way of informing the reader about the basic fundamentals of Economics. There is much wheat here and little chaffe and that is what the "Little Book" series aims to do and has succeeded admirably here.
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