Customer Reviews for

Naked Economics: Undressing the Dismal Science

Average Rating 4.5
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Sort by: Showing all of 16 review with 4 star rating   See All Ratings
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  • Posted January 21, 2011

    Great Read!!

    For anyone looking for a way to gain some basic knowledge of economics without the grsphs this is your book. I read it years ago in paperback and am excited to read it again.

    1 out of 1 people found this review helpful.

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  • Posted March 25, 2013

    Dismal science? Not anymore!

    NAKED ECONOMICS came out long before the banking/housing crisis, but the pages on the S&L crisis were a blueprint for the latest finacial debacle. If only the U.S. government had learned its lesson the first time, we would be in a different place today. This book, as it came out long before, does not address that 2007 crash, but the logical progression of comparable behaviors, shown here, leads the reader to an intuitive grasp--not one filled with incomprehensible numbers and mathematical processes--of the issues. Intuition is the key, but there is nothing mystical about it. Wheelan helps the lay person to see economics and understand the behind-the-scenes working of it. An economist who shuns the so-called virtues of "share the wealth," Wheelan reinforces the idea that capitalism ultimately generates wealth and choice, and it tends to provide a better life for almost all, as a result. A free market means that cost cutting will cost jobs, but, over time, progress, not stagnation, is the result. He is not afraid to say, though, that such ideas are always more acceptable in the abstract than when they happen to us. That is a serious issus, seriously addressed. My animosity toward by boards of corporations when they give CEOs huge stock options was transformed by his explanation of the rationale behind such decisions, and their benefit for me, the shareholder in a corporation over which I have no control. I am no less antagonistic toward CEOs for getting so much for doing so little, and for creating a wealth gap that is unconscionable, but at least I now understand the motivation behind the decision. This "dismal" science never really was that, but it seemed a far cry from transformational. Not any longer, because Wheelan knows how to write in a way that challenges the ideas and energizes the mind of the reader.

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  • Posted December 17, 2011

    Great info for the non-economist

    I breezed though this book and re-read it to make sure that I had understood some of the finer points that had been made. Until now, economics had to do with how much money I had in my checking account (never enough <G>) but now I've got at least enough to discuss the subject more intelligently. The only problem I had with the book was that I sometimes got pretty chilly sitting around reading the book sans clothes. I recommend this book for anyone who would like to have more than just a basic idea of what economics are and how they function in our daily lives.

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  • Anonymous

    Posted December 5, 2011

    Great read!

    Just a terrific explanation of the science of economics in plain simple language that makes it easy to understand. Updated version is timely given our present world economic challenges. The explanation of the role that public policy plays in managing the economy is very well written without being political. Highly recomend!

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  • Posted November 17, 2011

    I used this in class

    This book helped me get an A- in a subject I barely understood!

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  • Anonymous

    Posted December 23, 2002

    American-style capitalism!

    As the Krokus review states, there is a lot of material covered in this book. It reviews much about macroeconomics that a standard undergraduate text would cover, and then some more, but with better examples. Indeed the examples are very current and make the book very timely. However, I fear in a few years those examples may not mean much and presently a few of the comparisons may be puzzling to non-americans who lack the common cultural reference points. Still, it IS an easy book to read. The chapters are short, interesting, and build a little on each other. I particularly learned from the federal reserve chapter (10). Chapters 11 and 12 recap the book very nicely -and expand on it- with great examples. I did not like the simple references to the "rock-throwing thugs in Seattle and Genoa" (page 200), and throughtout, but it's part of the coverage on trade & globalization. I look forward the reading more on some topics by researching the intersting material in the book's footnotes. I do wish he had given more footnotes with his examples, as I would have liked to see the research behind many items presented - very intersting book. The book clearly shows "how to think like an economist" and that is its goal, I believe - and no charts or graphs, just good examples. This book should be very interesting for foreign readers who wish to understand american-style capitalist thought. I hope it gets translated into Spanish, Chinese, and other languages. Makes me want to read more about deflation - are we headed there?

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