From Here to Economy: A Shortcut to Economic Literacy

by Todd G. Buchholz

Overview

What is the GDP, and what does it mean? Why does the stock market go down when interest rates go up? What causes a dreaded recession?

Economics impacts everyone's life, but most people take on faith what they read in the newspaper. Now, for anyone who doesn't know much about economics, noted economist Todd Buchholz explains it all simply and clearly. With refreshing wit and irreverence, Buchholz takes readers by the hand and reveals the basic rules behind everything from food prices to trade deficits. Instead of complicated graphs and charts he uses examples from contemporary life and popular culture to demonstrate the principles at work. By cutting through the arcane musings of academicians, the jargon of analysts and advisors, and the rhetoric of politicians, he gives us a precise and accessible understanding of economic ideas, actions, and consequences as they actually exist in the here and now.

Here are some of the heretofore unintelligible ideas he helps us to understand: what causes or combats inflation, and why it is so feared; what moves stocks and bonds up and down—and how to invest wisely and safely; whether it is good or bad to "protect" America from foreign goods—and what happens when we do and when we don't; what exactly Social Security is, and whether government spending is good or bad—and how dangerous the national debt is or isn't.

In today's confusing economic climate, it has never been more important for everyone from homemakers to small-business owners to individual investors and middle managers to understand the forces at work.

Product Details

ISBN-13:	9780452274822
Publisher:	Penguin Publishing Group
Publication date:	05/01/1996
Pages:	288
Product dimensions:	5.31(w) x 7.99(h) x 0.79(d)
Age Range:	18 Years

About the Author

Todd G. Buchholz is an internationally acclaimed economist who advises ABC News, as well as some of the world's leading investment funds. He has served as a director of economic policy at the White House and is a contributing editor for Worth magazine. Buchholz holds advanced degrees from Cambridge University and Harvard Law School and was awarded the Allyn Young Teaching Prize by Harvard University's Department of Economics.

Table of Contents

Acknowledgments
Introduction

Part One. How's the Economy Doing? Macroeconomics
1. The Big Picture
2. Uncle Sam the Debtor: Deficits and Fiscal and Monetary Policy

Part Two. The Economist's Toolbox: Microeconomics
3. The Very Model of a Modern Major Market: Microeconomics
4. Applying Microeconomics to Major Markets: Advertising, Education, the Environment, Health Care

Part Three. The International Scene
5. Border Crossings: International Trade
6. Money Makes the World Go Round: Currencies and Finance

Part Four. Making a Buck: Business Finance and Personal Investing
7. Going for Broke: How Businesses Finance Themselves
8. Taking Stock of Personal Investments

Part Five. A Tourist's Guide to the History of Economic Thought
9. They Shoot Economists, Don't They? Great Economists and Schools of Thought

Conclusion

Appendix: Greatest Hits of Economics
Notes
Suggested Readings
Index

Editorial Reviews

A painless, even entertaining, way to learn the basics. Buchholz knows his stuff.”—Peter Passell, Editor, The Milken Institute Review
 
“[A] humorous version of Econ 101.”—Publishers Weekly
 
“An interesting overview of the economics world…  manages to combine sound economics with an entertaining writing style.”—Foundation for Economic Education (FEE)

Praise for New Ideas from Dead Economists

"If you read only one economics book this year, read this one.”—Larry Summers
 
“Outstanding… fun to read.”—The Wall Street Journal
 
“This wide-ranging survey of economic thought combines a witty and clear exposition with a high degree of accuracy.”—Milton Friedman
 
“Precious few books… on any academic subject succeed at being witty and amusing. This is one of them. Bravo!”—William F. Buckley, Jr. 

From the Publisher

``You would probably do just as well choosing a stock by throwing a stockbroker at a dartboard as listening to his advice-and you would save money,'' opines Buchholz (New Ideas from Dead Economists) in this humorous version of Econ 101. Here he demystifies such terms as inflation, monetary policy, exchange rates and corporate financing and provides a concise history of economic thought from Adam Smith to contemporary supply-side economics. Formerly associate director of economic policy on President Bush's Economic Policy Council and now president of an international consulting firm, Buchholz argues against adopting a Canadian-style national health plan or forcing employers to provide medical coverage. Instead, he says, individuals should be required to obtain their own, to discourage frivolous expenditures. Fortune Book Club selection. (May)

Publishers Weekly - Publisher's Weekly

The news contains major stories about various aspects of the economy, from the stock market to inflation to GATT. For the nonspecialist, the economic concepts involved may be daunting. According to Buchholz, "most people have found economics to be like a bad steak: dry, tough, and tasteless." Buchholz, who has served as associate director of economic policy and deputy executive secretary of the White House Economic Policy Council, here aims to demystify economics. Using contemporary examples to explain key economic principles, he presents an uncomplicated and clear analysis. The book is divided into five parts: macroeconomics, microeconomics, international economics, business and individual investment, and history of economic thought. The appendix lists "Greatest Hits of Economics," including the five top economists; a helpful list of suggested readings is included. Recommended for public libraries as a complement to the author's previous New Ideas from Dead Economists: An Introduction to Modern Economic Thought (NAL, 1989).-Lucy Heckman, St. John's Univ. Lib., Jamaica, N. Y.

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