What Is Economics?

Rating:
Summary: An excellent introductory guide to the field of Economics
Review: With Economics gaining a greater spotlight in our world, a basic understanding of it is necessary to be an active and informed participant in society. As a high school student with a special interest in economics because of recent waves of discontent washing over the world in the form of protests against free trade and international bodies, I found this text a good general introduction to economics that would allow me to better understand some of the complaints of said protestors. Although the book is certainly dated, it holds up remarkably well - it discusses many current issues from the American perspective that are as relevant today (OPEC, NAFTA, etc.) as they were when the book was written. The special focus on sustainable development and policy that is alternative to the mainstream growth-oriented view is also appreciated. The book is able to have an alternative view while still maintaining the pretense of objectivity. I felt that the book did not focus enough on some of the recent complaints directed towards trade policy such as arguments related to the so-called 'race to the bottom'. Additionally, it could have used the term 'deflation' more and specifically addressed issues relating to deflation as an aside to discussions of recession. Finally, I would have liked to have seen an expanded discussion of competition policy. That said, my wishes for an expanded text are not jeers, but instead cheers. As a high school student, this work has done an excellent job of engendering an interest in the subject. Because I am interested (I read this book in preparation for an Economics course that I will take in an upcoming year) I am demanding a greater and more expansive book. This book, as a fast-paced and broad-based introduction to the discipline is highly recommended for its readability and ability to simplify complex concepts. It has successfully avoided that trap of being dry, dull and overly detail-oriented that so many other introductions fall into, and has given me an interest in furthering this pursuit and learning more.