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![The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits 28) by [Greg Ip, Mohamed El-Erian]](https://m.media-amazon.com/images/W/IMAGERENDERING_521856-T1/images/I/41TuXnEtNFL._SY346_.jpg)
The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits 28) Kindle Edition
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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
A must read for anyone who wants a better grasp of the economy without taking a course in economics , The Little Book of Economics is a unique and engaging look at how the economy works in all its wonderful and treacherous ways.
- LanguageEnglish
- PublisherWiley
- Publication dateJuly 16 2010
- File size405 KB
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Product description
From the Back Cover
"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
Review
"...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
About the Author
After 20 years, he is now one of the country's leading economics journalists, writing about the economy, the budget, the Federal Reserve, and politics from Washington. He has earned the respect of top economic policy makers and gained a reputation for making complex issues understandable to the ordinary reader. He regularly discusses economic issues on television and radio, from CNN and MSNBC to the Newshour with Jim Lehrer, and on National Public Radio. Ip is the recipient of numerous awards including Business Journalist of the Year award from the World Leadership Forum, William Brewster Styles Award in business and economics writing, and was a part of the 2002 WSJ team to receive the Pulitzer Prize for breaking news reporting. --This text refers to the paperback edition.
From the Inside Flap
- How psychology and the Federal Reserve drive business cycles
- How a financial crisis can transform a recession into a depression
- The surprising effects of fertility rates, lawyers, and ideas on economic growth
- Whether the United States faces a lost decade like Japan did in the 1990s
- The causes of inflation, how it destabilizes society, and why deflation is even worse
- How government debt can sometimes help end a recession but, other times, bring on disaster—and how to tell the difference
- The symptoms of financial crises and why they often occur in election years
- What goes on inside the Federal Reserve, what it does when interest rates are zero, and why its power to print money has made it the world's financial fireman
You can't understand the American economy without recognizing the growing influence of the rest of the world. So The Little Book of Economics digs into globalization, how it made America's mortgage crisis possible, how it's exploited by China to spur growth, and how it makes the United States richer even as it widens the gap between winners and losers.
One side effect of the deepest economic downturn since the Great Depression is that it has ignited a fresh desire among citizens and investors to better understand the economy. The Little Book of Economics is an accessible, engaging, and entertaining guide to all of the wonderful and wicked ways in which the economy functions and what it all means to you.
--This text refers to the paperback edition.Product details
- ASIN : B003VWCQAQ
- Publisher : Wiley; 1st edition (July 16 2010)
- Language : English
- File size : 405 KB
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Not Enabled
- Word Wise : Enabled
- Sticky notes : On Kindle Scribe
- Print length : 182 pages
- Best Sellers Rank: #1,404,386 in Kindle Store (See Top 100 in Kindle Store)
- #833 in Economic Theory (Kindle Store)
- #834 in Economic Theory in Accounting & Finance
- #2,387 in Popular Economics (Kindle Store)
- Customer Reviews:
About the author

I am the U.S. Economics Editor for The Economist magazine, based in Washington, DC. I've spent two decades in financial and economic journalism, including 11 years at the Wall Street Journal in both New York and Washington and before that stints at The Financial Post and The Globe and Mail in Canada. I've appeared on television and radio, including National Public Radio,PBS, CNN, CNBC, and MSNBC. I've won or shared in several prizes for reporting. I graduated from Carleton University in Ottawa, Canada, with a degree in economics and journalism, and now I live in Bethesda, Maryland.
I was introduced to economics as a child. My mother, a practicing economist, now retired, delighted in trying to apply what she knew about the dismal science to her four children’s upbringing. We must have been the only kids in town whose weekly allowance was indexed to inflation. I took economics in college, though not intending to write about it; I just wanted a fallback in case journalism didn’t work out. Right out of college, I joined a metropolitan daily newspaper that put me on the night shift covering local politics, crime, and the like, a lot of which never made it into the paper. The business section, however, had lots of space in it and regular hours, so I got a transfer. Soon, I was writing about the economy and the markets, and loving it.
In the process, I discovered a chasm between the economics taught in college and the real world. Textbooks go on about the money supply but it turns out central banks ignore it. Simple questions like “how big is the national debt?” have complicated answers. I learned about fiscal policy but not about debt crises. So I wrote The Little Book of Economics with those lessons in mind.
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The author, Greg Ip has and uncanny ability to write in an engaging prose, that keeps the reader going. His writing also has a way that helps the reader retain what he has read, so that he can use the new knowledge to better understand the news, and differentiate between fact, fiction, and propaganda.
There are references to official organs of data along with explanations as to how they are used and sometimes abused.
This Little Book of Economics is an essential book for anyone's library.
Top reviews from other countries





If you enjoyed Freakonomics and it whetted your appetite for economics this book is a must.