Rating: 
Summary: Perfect intro to economics!
Review: This book will complement any collegiate economics course in
basic economics or economic theory. The authors discuss important
economists of the past. For instance, Adam Smith's theories are
given quite a bit of space in this book. Smith taught that
the division of tasks into component parts will increase output
due to the shear specialization and learning curve effects.
He explained that free trade benefited England because goods
could be bought cheaper than they could be produced in the mother
country. As a result, English labor could specialize in areas
of comparative advantage. Malthus warned that the population
boom would result in greater poverty down the line. Economists
can argue this even today. Malthus argued for delayed marriage
to enhance the standard of living for married couples.
Ricardo argued that consumers could consume a greater variety
of goods with free trade regardless of the stage in the
advancement of trading partners. Marshall and Jevons
argued that marginal utility diminished with each portion.
That is, more of a good thing would lead to less pleasure
incrementally. If people consumed all of their income,
Says Law found that "Full Employment" could remain. This is
overly optimistic because consumers don't always have the same
level of demand for goods and services-particularly during
weak economic cycles. This book is a good supplement to
the existing library of Economics volumes.
Rating: 
Summary: The economists are not all dead, and the ideas are not new
Review: This is a very good book, but I was somewhat disappointed with it. The problem is the title, which is misleading. It should have been called "A Modern Interpretations of Some Great Economists". There are no new ideas, nor really any new interpretations of old ideas. Another possibility, to apply these ideas to contemporary situations, is done very superficially and with none of the wit and imagination the author uses in their exposition. As a professional economist, I did not find the book very useful. What the book is, is a very good introduction to the history of economic thought. If some day I give an economics course, in particular to non-economists, this book will provide its basis. The witty and light way in which some of the greatest ideas in economics are presented is very appealing. With a book such as this, the countless students who hate the subject of economics will see that it is a living and human endeavor. My congratulations to the author although I suggest he change the title.
Rating:
Summary: Enlightening, entertaining...oh my gosh, I actually LEARNED!
Review: Those of us who were cranked through government-run schools probably all had similar high school economics classes. I seem to remember spending more time studying the machinations of the Fed and doing words and terms than taking economics seriously as a branch of philosophy.This book was a welcome surprise. Desperate for some much-needed education on economics, I took a recommendation and read this book. What a treasure! Buchholz entertains with wonderful biographical sketches of the more prominent economists; it is interesting to see how their lives influenced their thinking (John Stuart Mill's remarkable life-change is something I found striking). The analogies used to demonstrate certain principles, including such modern icons as the cast of Gilligan's Island, clarified the author's point while providing a chuckle. Buchholz seems to favor "laissez-faire" government and clearly prefers certain theories over others, but he gives fair treatment to all mentioned: Adam Smith gets significantly more ink than Thorstein Veblen, but Keynes and Marx, although the author is neither Keynesian nor Marxist, are written about in great detail and each have their own chapter. Obviously, this book is not geared towards folks who already know about economics. But, unlike other introductory texts, this one is not only thorough but effective. After reading it, I felt very confident in my ability to comprehend today's financial headlines; I cannot recommend it enough.
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