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Naked Economics Undressing the Dismal Science Paperback – 7 May 2010
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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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Top customer reviews
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.
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.
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.
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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How you see the world will never be the same.
What you see is what you know.
This book will change you. That I assure you.