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Naked Economics: Undressing the Dismal Science Paperback – 7 May 2010

4.5 out of 5 stars 32 customer reviews

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Product details

  • Paperback: 384 pages
  • Publisher: W. W. Norton & Company; Fully Revised and Updated Ed. edition (7 May 2010)
  • Language: English
  • ISBN-10: 0393337642
  • ISBN-13: 978-0393337648
  • Product Dimensions: 14 x 2.5 x 21.1 cm
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (32 customer reviews)
  • Amazon Bestsellers Rank: 29,975 in Books (See Top 100 in Books)

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Product Description

Review

I recommend this book to anyone who wants to gain an understanding of basic economics with little pain and much pleasure.--Gary Becker, 1992 Nobel Prize winner in Economics

Bravo, Charles Wheelan, for doing the impossible: making the study of economics fascinating, comprehensible, and laugh-out-loud funny.--Deborah Copaken Kogan, author of Shutterbabe: Adventures in Love and War

Translates the arcane and often inscrutable jargon of the professional economist into language accessible to the inquiring but frustrated layman. . . . Clear, concise, informative, [and] witty.

About the Author

Charles Wheelan is the author of the best-selling Naked Statistics and Naked Economics and is a former correspondent for The Economist. He teaches public policy and economics at Dartmouth College and lives in Hanover, New Hampshire, with his family. Burton G. Malkiel is the Chemical Bank Chairman's Professor of Economics Emeritus at Princeton University. He is a former member of the Council of Economic Advisers, dean of the Yale School of Management, and has served on the boards of several major corporations, including Vanguard and Prudential Financial. He is the chief investment officer of Wealthfront.


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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.
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Format: Hardcover
A well-reasoned and insightful introduction to economics. Lined with analogies and real-world examples, Naked Economics is accessible to anyone considering picking up the book--not just econ majors. Wheelan displays a casual tone tempered by intimate knowledge of recent examples of economics at work in society. As the back cover pronounces, the book is without graphs, curves or equations, which can be a plus or minus depending on what you are after. But for those interested in learning more about economics in a straightforward and enjoyable read, Naked Economics fits the bill perfectly.
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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.
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Format: Paperback Verified Purchase
i read lots of popular economics books
my favourite is the 1946 classic ECONOMICS IN ONE LESSON

i have read many books since then. but it has never been outdone, or even parried. until now.
i didn't know wheelan. and i certainly didn't agree with his centrist-leaning views.
but this really is a gem of a book. plain language, VERY entertaining prose, great examples, great research, good analogies.
in short, highly recommended.
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Format: Paperback
Though this doesn't really ever touch the realm of university level economics it provides an incredible introduction to the subject and brings in plenty of historical and current case studies to help illustrate the point brilliantly without getting lost in the unnecessary maths and graphs that have become ingrained into the formal economics programmes of today. The fundamentals of economics are illustrated brilliantly, unfortunately the later chapters which are perhaps the more interesting ones are dealt with a little superficially, the chapter on development economics is particularly disappointing with few real life examples brought in and the free market exalted to unrealistic levels. Whilst there's plenty to celebrate about the free market there are also many pitfalls, perhaps they deserve a book of their own rather than the superficial glossing they get here. For all that, there are few books that provide as good an introduction to economics as this one.
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Format: Hardcover
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 otherwise be difficult to understand. It is very comprehensive but towards the end of the book, you have to be skeptical.
Wheelan is obviously very defensive of the capitalist system, even though he often points out taking care of the environment, etc. In the chapter about the Asian sweatshops he carefully justifies some issues in a way that is covering up the whole problems put forward by anti-globalizationists. There are ways that this situation could be improved for the good of the world but he carefully goes around the issues to defend the capitalist pigs, so make sure you analyze what is on the page, there is more to it than he tries to get you to believe.
Otherwise, a recommended book for any economics-novice.
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Format: Paperback Verified Purchase
This is a good book. I'll give it 3 stars because it basically had one premise and that is it: markets are best left alone without interference. It didn't really tell me anything I didn't know or offer any particularly brilliant insights. He reasoned a lot of his argument on the notion of achieving "utility" - we do things to achieve our own selfish ends.

He explains the way the world works, but if you are of the opinion that the world aint working too great then you'll be disappointed because Mr Wheelan does not offer any solutions. All he wants is less government regulation and greater globalisation. He would say that though - it will make him richer.

He reasons that when each country or group of people is free to specialise then they become more productive. Which is true, but there are other issues to contend with. I think the main problem I had is that he talked as if economic wealth and achieving maximum productivity is all that matters. But to me, happiness is most important. Even he concedes in the book that the rich are no happier than the less well off.

He doesn't address the fact that big business has too much power either. Or the fact that despite greater real wages than previous generations, most of the wealth is concentrated at the top. Yes we probably work less, but we still work longer and harder hours than we should, I'd contend. Again he doesn't address this.
This book introduces the general reader to how governments govern their economy in an easy to understand way and it does provide a good overview. But, if you were looking for a book to tell you what is wrong with the world then this ain't it because according to Mr Wheelan, things are going fine.
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