Economics Explained

Economics Explained

Everything You Need to Know About How the Economy Works and Where It's Going

Book - 1998
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In its fourth edition, Economics Explained continues its announced purpose--to explain that mysterious thing called economics--with a new urgency.

It is announced in the first sentence of the introduction: "Just in case the reader-to-be hasn't noticed, disturbing things are going on in the American economy these days."

This new edition is about these disturbing things: a trend toward inequality of incomes, the appearance of a new "globalized" capitalism, the "specter" of inflation. As before, Robert Heilbroner and Lester Thurow treat these problems in language that seeks to make clear their causes and treatments. In this straightforward, highly accessible reference, Heilbroner and Thurow -- two of America's most respected and articulate economists -- offer all the economics essential for becoming an effective investor, a savvy business decision maker, or simply an informed member of society.
Publisher: New York, NY : Simon & Schuster, c1998
Edition: Newly rev. and updated
ISBN: 9780684846415
Characteristics: 240 p. ; 22 cm
Additional Contributors: Thurow, Lester C


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Feb 08, 2012

If what you know about economics is that “it’s about money”, and if you know what GDP stands for but not what it involves (and doesn’t involve), and you know that we live in a capitalist society but couldn’t really say what that means, this book will fill in the gaps.

In a very straightforward, easy to understand, no previous knowledge and no math kind of way, the authors follow the money that is in your hand on its entire life cycle: from what printing money means for an economy, to how businesses get started with capital, to how workers get paid, to the different effects their money has when they spend it vs saving it. There are some huge puzzle pieces here – involving governments, businesses, households, and other countries – and they make a very satisfying click when they come together.

We’re all affected by money, but we’re not all very effective with our money. This book won’t necessarily make you a good investor, but if you’re tired of economics being an uncontrolled force in your life instead of an understood occurrence, you don’t need to read anything else but this to become a more informed member of society.


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