The Little Book of Economics
How the Economy Works in the Real World
Published on 13. September 2010
256 pages
978-0-470-92940-7 (ISBN)
Description
One positive side-effect of the recent financial market meltdownthat toppled giant, century-old institutions and cost millionstheir jobs is that it created a strong desire among many Americansto better understand how the U.S. economy functions. InThe Little Book of Economics, Greg, Ip, one ofthe country's most recognized and respected economicsjournalists, walks readers through how the economy really works.
Written for the inquisitive layman who doesn't want toplow through academic jargon and Greek letters or pore over chartsand tables, The Little Book of Economics offersindispensible 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 oureconomy from inflation and unemployment to international trade andfinance
* Serves as an insider's guide to the people andinstitutions that control America's economy such as theFederal Reserve and the federal budget
* Explains the roots of America's currenteconomic crisis and the risks the country faces in its aftermath,such as stratospheric government debt, while offering advice onovercoming these threats
* Walks readers through the basic concepts andterminology they need to understand economic news
* Punctures myths and political spin from both the leftand the right with candid and often surprising insight
A must read for anyone who wants a better grasp of the economywithout taking a course in economics , The Little Book ofEconomics is a unique and engaging look at how the economyworks in all its wonderful and treacherous ways.
Reviews / Votes
"A guide to understanding 'the dismal science' and how economicconcepts and institutions affect our daily lives" (TheEconomist, December 2010) "...a must read in economic literacy." (USA Today,November 29, 2010) "Finally, an economics book that is neither dull nor inscrutableand that won't put you to sleep. Greg Ip gives us a lucid andentertaining understanding of 'the dismal science' and reveals howeconomic concepts and institutions affect our daily lives. Thislittle gem can turn all of us into sophisticated and educatedcitizens." --Burton G. Malkiel, Professor of Economics, PrincetonUniversity; author of A Random Walk Down Wall Street andThe Elements of Investing "Greg Ip is one of the world's best economic journalists. TheLittle Book of Economics will teach you much more than a littleabout the forces that shape all of our lives." --N. Gregory Mankiw, Professor of Economics, HarvardUniversity; author of Principles of Economics "Here's the perfect way to understand the economy withoutbreaking a sweat. Clearly written and easy to understand, TheLittle Book of Economics guides you through what you need toknow. Ip's bright light illuminates places previously darkened byinsider jargon and arcane formulae." --Robert B. Reich, Professor of Public Policy,University of California, Berkeley; former U.S. Secretary ofLabor "The book is an excellent introduction to basic economicconcepts and ideas explained in clear and thoughtful ways. A mustread in economic literacy." " --Nouriel Roubini, Professor of Economics, New YorkUniversity; Co-founder and Chairman of Roubini Global Economics "Greg Ip has the rare talent of making even the toughest topicseasy to understand. In The Little of Book of Economics, hetells you what you need to know with superb clarity and memorableexamples. I recommend this book to anyone who wants a clearexplanation of how the forces of economics shape the world." --Michael J. Mauboussin, Chief Investment Strategist,Legg Mason Capital Management; Author of Think TwiceMore details
Other editions
Additional editions
Book
09/2010
1st Edition
Wiley
€20.90
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Persons
Greg Ip is the U.S. Economics Editor for the Economist magazine, based in Washington, D.C. His career spans two decades of financial and economic journalism, including eleven years at the Wall Street Journal in New York and Washington. Before that, he wrote for the Financial Post and the Globe and Mail in Canada. He appears frequently on television and radio, including National Public Radio., PBS, CNN, CNBC, and MSNBC. He has won or shared in several prizes for reporting, and was part of the Wall Street Journal team that received the Pulitzer Prize in 2003 for breaking news reporting. Greg graduated from Carleton University in Ottawa, Canada, with a degree in economics and journalism. He lives in Bethesda, Maryland.
Content
Foreword.
Introduction.
Chapter One The Secrets of Success.
How People, Capital, and Ideas Make Countries Rich.
Chapter Two Economic Bungee Jumping.
Business Cycles, Recessions, and Depressions . . . Oh My!
Chapter Three In-Flight Monitor.
Tracking and Forecasting the Business Cycle from Takeoff toLanding.
Chapter Four Labor Pains.
Employment, Unemployment, and Wages.
Chapter Five Fire and Ice.
Warning: Inflation and Deflation Are Toxic to Your EconomicHealth.
Chapter Six Drop the Puck!
The Globalization Game Is Here Whether We're Ready or Not.
Chapter Seven All the World's an ATM.
Knitting Global Markets Together.
\Chapter Eight All the President's Men.
They Don't Control the Economy But They Sure Do Try.
Chapter Nine The Buck Starts Here.
The Federal Reserve's Amazing Power to Print and DestroyMoney.
Chapter Ten White Smoke over the Washington Mall.
The Making of Monetary Policy and the Fine Art of FedWatching.
Chapter Eleven When the World Needs a Fireman.
America's Lender of Last Resort and the World's CrisisManager.
Chapter Twelve The Elephant in the Economy.
What the Government Giveth and Taketh Away.
Chapter Thirteen Good Debt, Bad Debt.
How Government Borrowing Can Save or Destroy an Economy.
Chapter Fourteen Love-Hate Relationship.
The Bipolar Financial System--Essential for Economic GrowthBut Sometimes It Goes Nuts.
Chapter Fifteen A Species of Neuralgia.
The Multiple, Recurring Causes of Financial Crises.
Acknowledgments.
About the Author.
Index.
