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

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

List Price: $14.00
Your Price: $10.50
Product Info Reviews

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Rating: 3 stars
Summary: A readable introduction
Review: This is a book written for a layperson about the field of economics, the thinking of economists, and what is going on in some of the major current economic debates. There is no math (which may or may not be a good thing) and the few graphs are of the basic supply and demand curves which are simple to understand at this level, and which you can't really pass up when learning economics. Heilbroner and Thurow discuss the major economic concepts like GNP, inflation, the role of government, monopolies, etc. and they do a good job describing them and explaining how things work.

There is a liberal bias. The authors are not blind to this, and they do try to exhibit different viewpoints, and they try to point out when they are stating their own stance. If you want an unbiased view of economics, you will probably have a difficult time finding that one book that meets your standards-if anything, it will be the book that most closely agrees with your own biases. If you want an unbiased view, read many books, read textbooks, read news from several sources, and then come to your own conclusions. I don't think the biases in this book really disturb the education you can receive from this book. Just be aware that they exist.

If you didn't find this book exciting, like the 15 year old reviewer, it may be because you were not part of the intended audience. Heilbroner and Thurow wrote this book for those who "want to understand the nature of the economic forces that are upsetting their lives." In the modern world, people need to know some economics in order to be in full control of their lives. If you read nothing else but this, you will at least be able to read business and financial news with greater understanding and perhaps participate in economic discussions.

Rating: 3 stars
Summary: A readable introduction
Review: This is a book written for a layperson about the field of economics, the thinking of economists, and what is going on in some of the major current economic debates. There is no math (which may or may not be a good thing) and the few graphs are of the basic supply and demand curves which are simple to understand at this level, and which you can't really pass up when learning economics. Heilbroner and Thurow discuss the major economic concepts like GNP, inflation, the role of government, monopolies, etc. and they do a good job describing them and explaining how things work.

There is a liberal bias. The authors are not blind to this, and they do try to exhibit different viewpoints, and they try to point out when they are stating their own stance. If you want an unbiased view of economics, you will probably have a difficult time finding that one book that meets your standards-if anything, it will be the book that most closely agrees with your own biases. If you want an unbiased view, read many books, read textbooks, read news from several sources, and then come to your own conclusions. I don't think the biases in this book really disturb the education you can receive from this book. Just be aware that they exist.

If you didn't find this book exciting, like the 15 year old reviewer, it may be because you were not part of the intended audience. Heilbroner and Thurow wrote this book for those who "want to understand the nature of the economic forces that are upsetting their lives." In the modern world, people need to know some economics in order to be in full control of their lives. If you read nothing else but this, you will at least be able to read business and financial news with greater understanding and perhaps participate in economic discussions.

Rating: 5 stars
Summary: superb overview
Review: This is a terrific resource for basic literacy in economics. It targets a reader who keeps abreast of current affairs and who wants a fuller understanding of the economics terms, mechanisms, theories, and controversies underlying them. The book delivers on its promise to explain economics to such a reader, and does so succinctly and engagingly.

Much has been said of the book's biases. The book does not offer pollyannish praise of markets, nor does it demonize government. The reverse is also true. The authors identify controversies in economics, lay out both sides as fairly and clearly as possible, and expose their own biases. This is as balanced a book on economics as one is likely to find.

Rating: 1 stars
Summary: Interesting book for Socialists or studying Socialism
Review: While providing some information on economics, this book was primarily interesting to me because it gives information as to how current socialists view the economy.

The actual economics in the book are weak. The authors don't even pretend to understand 'money'. I assume that is because the authors would like to do away with money. But you can't hope to really understand the US economy if you don't understand money.

If you'd like a better understanding of the economy check out Thomas Sowell's "Basic Economics: A Citizen's Guide to the Economy"

Rating: 2 stars
Summary: Interesting book for the current socialist view
Review: While this book is easy to read and provides some information on economics, it was primarily interesting to me because it gives information as to how current socialists view the economy.

The actual economics in the book are weak. The authors don't even pretend to understand 'money'. I assume that is because the authors would like to do away with money. But you can't hope to really understand the US economy if you don't understand money.

If you'd like a better understanding of the economy check out Thomas Sowell's "Basic Economics: A Citizen's Guide to the Economy"

P.S. If you don't believe me that Heilbroner is a socialist, see his book "Marxism: For and Against".


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