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The Little Book of Economics: How the Economy Works in the Real World / Edition 2

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Overview

An accessible, thoroughly engaging look at how the economy really works and its role in your everyday life

Not surprisingly, regular people suddenly are paying a lot closer attention to the economy than ever before. But economics, with its weird technical jargon and knotty concepts and formulas can be a very difficult subject to get to grips with on your own. Enter Greg Ip and his Little Book of Economics. Like a patient, good-natured tutor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures and major players, this revised and updated edition of Greg's bestselling guide clues you in on what's really going on, what it means to you and what we should be demanding our policymakers do about the economy going forward.

  • From inflation to the Federal Reserve, taxes to the budget deficit, you get indispensible insights into everything that really matters about economics and its impact on everyday life
  • Special sections featuring additional resources of every subject discussed and where to find additional information to help you learn more about an issue and keep track of ongoing developments
  • Offers priceless insights into the roots of America's economic crisis and its aftermath, especially the role played by excessive greed and risk-taking, and what can be done to avoid another economic cataclysm
  • Digs into globalization, the roots of the Euro crisis, the sources of China's spectacular growth, and why the gap between the economy's winners and losers keeps widening
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Editorial Reviews

From the Publisher
"A guide to understanding 'the dismal science' and how economic concepts and institutions affect our daily lives" (The Economist, December 2010)

"...a must read in economic literacy." (USA Today, November 29, 2010)

"Finally, an economics book that is neither dull nor inscrutable and that won't put you to sleep. Greg Ip gives us a lucid and entertaining understanding of 'the dismal science' and reveals how economic concepts and institutions affect our daily lives. This little gem can turn all of us into sophisticated and educated citizens."
Burton G. Malkiel, Professor of Economics, Princeton University; author of A Random Walk Down Wall Street and The Elements of Investing

"Greg Ip is one of the world's best economic journalists. The Little Book of Economics will teach you much more than a little about the forces that shape all of our lives."
N. Gregory Mankiw, Professor of Economics, Harvard University; author of Principles of Economics

"Here's the perfect way to understand the economy without breaking a sweat. Clearly written and easy to understand, The Little Book of Economics guides you through what you need to know. Ip's bright light illuminates places previously darkened by insider jargon and arcane formulae."
Robert B. Reich, Professor of Public Policy, University of California, Berkeley; former U.S. Secretary of Labor

"The book is an excellent introduction to basic economic concepts and ideas explained in clear and thoughtful ways. A must read in economic literacy." "
Nouriel Roubini, Professor of Economics, New York University; Co-founder and Chairman of Roubini Global Economics

"Greg Ip has the rare talent of making even the toughest topics easy to understand. In The Little of Book of Economics, he tells you what you need to know with superb clarity and memorable examples. I recommend this book to anyone who wants a clear explanation of how the forces of economics shape the world."
Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management; Author of Think Twice

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Product Details

  • ISBN-13: 9781118391570
  • Publisher: Wiley
  • Publication date: 1/14/2013
  • Series: Little Books. Big Profits Series , #55
  • Edition description: Revised
  • Edition number: 2
  • Pages: 288
  • Sales rank: 236,605
  • Product dimensions: 5.30 (w) x 7.10 (h) x 1.10 (d)

Meet the Author

GREG IP is an award-winning journalist and the U.S. Economics Editor for The Economist magazine, based in Washington, DC. He's spent two decades in financial and economic journalism, including eleven years at the Wall Street Journal in both New York and Washington, DC, and before that, stints at the Financial Post and the Globe and Mail in Canada. He appears frequently on television and radio, including National Public Radio, PBS, and MSNBC and is a regular on-air contributor to CNBC. Greg attended Carleton University in Ottawa, Canada, where he earned a degree in economics and journalism. He lives in Bethesda, Maryland.

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Table of Contents

Foreword xiii

Introduction xix

Chapter One The Secrets of Success 1

Chapter Two Economic Bungee Jumping 25

Chapter Three In-Flight Monitor 37

Chapter Four Labor Pains 53

Chapter Five Fire and Ice 71

Chapter Six Drop the Puck! 93

Chapter Seven All the World’s an ATM 111

Chapter Eight The Price of Economic Freedom 123

Chapter Nine All the President’s Men 141

Chapter Ten The Buck Starts Here 155

Chapter Eleven White Smoke over the Washington Mall 167

Chapter Twelve When the World Needs a Fireman 187

Chapter Thirteen The Elephant in the Economy 201

Chapter Fourteen Good Debt, Bad Debt 219

Chapter Fifteen Love-Hate Relationship 237

Acknowledgments 257

About the Author 259

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Customer Reviews

Average Rating 3.5
( 16 )
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  • Posted October 8, 2010

    Greg's new book should be on a must read for all Undergrad or even high school students as a general education course!

    One factor which cannot be ruled out as to why the US is in financial decay is simply that our education system fails to teach the principles of finance, or our economy, and the dynamics of the interplay between world economies. That said, Greg's new book truly brings together the many facets of the financial system under one book and explains many of these principles in such elegant, yet so simple english for us readers to digest. And, there are such understated humorous moments as well! One walks away after finishing the book wondering why one didn't major in Economics in college! Maybe if undergraduate students are required to read this book as not just for Econo majors but as a general ed requirement, there would be more financially literate, and productive people in our world.
    Greg's Chapter 11 on the briefing overview on the months of how our Fed handled the financial chaos was insightful and really helped me as a reader to better grasp the situation.

    Cheers to you for writing this book Greg!
    Jeanny

    3 out of 3 people found this review helpful.

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  • Anonymous

    Posted October 24, 2011

    Good review of current situation

    There is no lack of "simple little books" designed to explain some complex situation but this book delivers on the promise. A timely update, it puts the economic tumult since 2008 in a readable format. IF our "leaders" could commuicate on this level it would go along way toward explaining what's happening and what may happen next. An easy read, I would recommend it for high school / undergraduate college students for a broad overview of the complexities of Economics. After reading this work I looked up additional works by its author, Greg Ip, and I enjoyed what I found. A contributor to the "Economist" magazine, he has the ability to examine the Economy without getting bogged down in superflous rhetoric and mind-numbing partisan politics.

    1 out of 1 people found this review helpful.

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  • Anonymous

    Posted September 23, 2013

    Sux

    Sux

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  • Anonymous

    Posted January 12, 2013

    This book purports to be nonfiction on a technical subject but i

    This book purports to be nonfiction on a technical subject but it doesn't even have an index - that's an insult to any serious reader.

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