Monday, December 13, 2010

The Little Book of Economics

I just finished "The Little Book of Economics" by Grep Ip. Here's the description from Amazon:

Written for the inquisitive layman who doesn’t want to plow through academic jargon and Greek letters or pore over charts and tables, The Little Book of Economics offers indispensible insight into how the American economy works – or, doesn’t. With engaging and accessible prose, the book:
  • Provides a comprehensive understanding of each aspect of our economy from inflation and unemployment to international trade and finance
  • Serves as an insider’s guide to the people and institutions that control America’s economy such as the Federal Reserve and the federal budget
  • Explains the roots of America’s current economic crisis and the risks the country faces in its aftermath, such as stratospheric government debt, while offering advice on overcoming these threats
  • Walks readers through the basic concepts and terminology they need to understand economic news
  • Punctures myths and political spin from both the left and the right with candid and often surprising insight

While the book is interesting and easy to understand, it glosses over (ignores) a lot of details. The book focuses a lot on the economics management instruments and entities in the US. It might be informative for the average person, I don't recommend this book for anybody who knows a lot about economics.

The author's web site includes blog entries about the economy and current events. Economic dilettantes may find that interesting.

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