Product Description
Never before have we read such jarring headlines, distressing news analyses, or dire predictions concerning the world's financial future. The American housing market -- or, more sentimentally, the American dream -- began to collapse in 2006, taking with it large chunks of the global financial system. Millions of jobs worldwide have vanished forever. Did Bible prophecy predict this catastrophe? Are there biblical clues to how soon, if ever, a viable, long-term recovery can be sustained? Is the financial collapse just one of several signs that we are living in the final days of Earth's history In THE COMING ECONOMIC ARMAGEDDON, David Jeremiah says we can know the meaning behind what we see in the daily news -- and understand and prepare for living in the New Global Economy. ... Read more

Customer Reviews (19)

RIGHT ON!!!!!!
I have been listening to David for awhile, having also read 'Escape the Coming Night'. This new book is, as the other books, exactly right on the mark.Be ye a believer or not - it is easy to see the world as it is and where it is going! Fasten your seat belts and hang on!

Vaughn and family

He's done it again
Dr. David Jeramiah's book THE COMING ECONOMIC ARMAGEDDON prepares us to face what is happening now and what we face in the future.Once again he has done all the research and work ao he could present us with a book that any of us can understand and benefit from.His knowledge of the Bible is outstanding.His books continue to help me grow in my Christian Faith.In this latest book he made me aware of so many things I had read numerous times without fully comprehending their full significance.Thank God he has ministers like Dr. Jeramiah to help people like me better understand his word.I hope many people will read this book so they can be better prepared for what is ahead.

A FASCINATING BOOK
What a fascinating book and the information presented is up to date. I have never read any of the author's books but after reading this book, I will definitely read some of his other books. The book was easy to read and helped to explain the economic problems that we are all facing in our lives biblically. I really enjoyed the section of the book (Page 244) when he talks about comfort zones and how devastating it can be when we fall out of those zones.This is a must read to help you prepare for the future economically.(Reviewed by Eileen Melissa's mom.)

economic prophecy
Very good and comprehensive explaination of world view of United States and world economy and its relationship to biblical prophecy.

Spot On!!!
I've been a long-time listener of Dr. Jeremiah and can safely say that this man is the real deal. Biblical scripture as it coincides with current, and soon to be current events, are explained beautifully. Global consolidation brought about by micro and macro events within financial, religious,and political events throughout history, culminating in a fast-approaching end of days. Great Read!!!! ... Read more

Product Description
One positive side-effect of the recent financial market meltdown that toppled giant, century-old institutions and cost millions their jobs is that it created a strong desire among many Americans to better understand how the U.S. economy functions. In The Little Book of Economics, Greg, Ip, one of the country’s most recognized and respected economics journalists, walks readers through how the economy really works.

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. ... Read more

Customer Reviews (5)

First-rate introduction for an adult who wants to know
The Little Book series on economics, money and investment is well served by this foundation book which is written so as to be easily accessible and clear about a subject often presented as very complex.It covers the issues that matter to us in our economic lives, shedding light where sometimes we are exposed to nothing but heat.It is a primer that escapes the fury of the Krugman/DeLong or Laffer/Kudlow battle over what theory must prevail in order to correct our employment woes.

This is an ideal book for my grandchildren who are teachers and engineers but with no exposure to economics.It and Jack Bogle's Little Book on funds make a great pair of helpful reads.Both are small enough to be non-threatening to those who live by the computer.It's a way to tell them about the game the real world plays with money and how to participate.

Connects the dots between economic theory and current economic issues
Greg Ip's Little Book of Economics frames current economic issues in an
easy to read and understandable fashion. It combines economic theory
with real world conditions. Ip provides context to the credit market
crisis, the Great Recession, and to the painfully high unemployment of
recent years. The book also explains in a non-technical fashion the role
of the Federal Reserve, the factors that are considered in the
formulation of policy, and the many unconventional policies of the
Federal Reserve employed during the crisis. I have assigned this book to
my Money & Banking class at Rutgers as a complement to the regular text.
Feedback from the students has been uniformly favorable. I strongly
recommend The Little book of Economics for those with an interest in
connecting the dots between theory and practice, for students who
are looking for purpose in economic theory, and for the more general
reader looking for the forest beyond the financial news trees.

Qucik, Comprehensive, and an Excellent Read
Simply put... this is a superb read.If you are looking for that one book that tells you how the world really works, and want it done quickly, and without having to do any math with letters and funny symbols this is your book.

Great, quick primer on the subjects
As someone with a degree in Economics who hasn't worked in the field as directly as Greg Ip, I found this book to be a great review of topics I had long forgotten about. Please don't confuse this with a textbook or a deep dive into any topic. It is to Economics what a cross-country flight is to geography. A lot of overview. A lot of great scenery. You will likely find a topic or two you want to delve in to deeper. Oh, and it takes about as long to read.

Thanks Greg.

Excellent text for public policy classes
The Little Book of Economics is engaging and interesting and written at a level that is perfect for students without much economics background.It gives them a basic understanding of the drivers of the economy and the effects of government policies.As an economist, I'd love to use the IS-LM and aggregate supply and demand framework, but I know from experience that economic models confuse and frighten some Masters in Public Administration [MPA] students.My students can get what they need without the math from Greg's book. ... Read more

Product Description
A simple, straightforward analysis of economic fallacies that are so prevalent they have almost become a new orthodoxy. ... Read more

Customer Reviews (233)

A Must Read
A must read for all of those that believe in Kensian economics!This book debunks the myth that our current Administration so strongly believes in; namely, spending to get ourselves out of debt.Every politician should read this book and learn the basics of economics.

Vastly overrated work of fiction
I was sorely disappointed in this vapid and smarmy demogoguery.Sure, back then there was no Google searching nor number crunching laptops.But plenty of economic data was available which the author managed to circumvent.Probably the book's greatest failing was to compare the field of economics to other sciences.Even with today's analytical resources, economists are still all over the map on their predictions & conclusions.On the other hand, meteorologists seem to do quite well.
Naturally the radical libertarians, tea-baggers & Republicans love this slim volume which is even slimmer on evidence.I would read it only if you want to know why the lunatic fringe is so nutty & irrational.

Objective Means Right, Not Tolerant of Error
Over 40 years ago, Mr. Hazlitt wrote:

"Government guaranteed home mortgages, especially when a negligible down-payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize bad risks and to defray the losses. They encourage people to 'buy' houses they cannot really afford. They tend eventually to bring about an oversupply of houses as compared with other things. They temporarily overstimulate building, raise the cost of building for everybody (including the buyers of the homes with the guaranteed mortgages), and may mislead the building industry into an eventually costly overexpansion. In brief, in the long run they do not increase overall national production but encourage malinvestment."

If this was the only sentence in this book our current so-called economists had read, understood and applied when Fannie and Freddie came waddling down the pike, we wouldn't be in the mess we're in today. You'll find more of the same 'unobjective', observation-based thinking throughout this little gem of a book - so please read it if you're at all interested in saving yourself and this country from the approaching disaster. I especially recommend the chapter "The Mirage of Inflation", because brother, it's coming soon to devastate an economy near you, and we need the help of honest intellectuals like Mr. Hazlitt to help us understand and oppose "the hidden tax" - before it's too late.

More politics, less economincs
I wish I had read more of the reviews to learn that this book is less about economics and more about pushing a particular political point of view.The point of view is hard right and the current recession disproves most of the economic patter.After skimming a few pages I threw it away; I didn't even want it in the house.

IN ONE LESSON?...Believe it!~
I read this book expecting to be bored.The author surprised me by putting everything in easy to understand language and common sense examples.Considering this book was written in 1946 and updated the last time in 1976 it reads like it was written for today.I thoroughly enjoyed it and learned a lot.The Austrian School of economics is the only form of economics that makes sense.This book will help you make sense of it. ... Read more

Product Description
With new material from the author

"Economic hit men," John Perkins writes," are highly paid professionals who cheat countries around the globe out of trillions of dollars. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as Empire but one that has taken on terrifying dimensions during this time of globalization." John Perkins should know-he was an economic hit man for an international consulting firm that worked to convince developing countries to accept enormous loans and to funnel that money to U.S. corporations. Once these countries were saddled with huge debts, the American government and international aid agencies were able to request their "pound of flesh" in favors, including access to natural resources, military cooperation, and political support. Confessions of an Economic Hit Man is the story of one man's experiences inside the intrigue, greed, corruption and little-known government and corporate activities that America has been involved in since World War II, and which have dire consequences for the future of democracy and the world.Amazon.com Review
John Perkins started and stopped writing Confessions of an Economic Hit Man four times over 20 years. He says he was threatened and bribed in an effort to kill the project, but after 9/11 he finally decided to go through with this expose of his former professional life. Perkins, a former chief economist at Boston strategic-consulting firm Chas. T. Main, says he was an "economic hit man" for 10 years, helping U.S. intelligence agencies and multinationals cajole and blackmail foreign leaders into serving U.S. foreign policy and awarding lucrative contracts to American business. "Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars," Perkins writes. Confessions of an Economic Hit Man is an extraordinary and gripping tale of intrigue and dark machinations. Think John Le Carré, except it's a true story.

Perkins writes that his economic projections cooked the books Enron-style to convince foreign governments to accept billions of dollars of loans from the World Bank and other institutions to build dams, airports, electric grids, and other infrastructure he knew they couldn't afford. The loans were given on condition that construction and engineering contracts went to U.S. companies. Often, the money would simply be transferred from one bank account in Washington, D.C., to another one in New York or San Francisco. The deals were smoothed over with bribes for foreign officials, but it was the taxpayers in the foreign countries who had to pay back the loans. When their governments couldn't do so, as was often the case, the U.S. or its henchmen at the World Bank or International Monetary Fund would step in and essentially place the country in trusteeship, dictating everything from its spending budget to security agreements and even its United Nations votes. It was, Perkins writes, a clever way for the U.S. to expand its "empire" at the expense of Third World citizens. While at times he seems a little overly focused on conspiracies, perhaps that's not surprising considering the life he's led. --Alex Roslin ... Read more

Customer Reviews (753)

Who owns America?
There was a money lender -- back in the 1700s who said: "I don't care what sort of clown the King is, as long as I control the money, I control the country" Of course it is paraphrased.

The question here is, Who owns America and its money flow? He who is behind the curtain is the one causing all this current mess. Money has no real owner as it changes hands in a split second. It is he behind the curtain who decides where it should go, and how much of it needs to be printed. The real Helm's man.

It is not any of the ones listed in Forbes Magazine every year. These are school boys when compared to this real character(s)whose fingerprints can only be seen by the few.

Perkins take us on this amazing trip of adventures, but he needs to dig deeper until he reaches the core.

I just bought the book, and have not put it down since this morning. I guess I will go well into the night devouring every page of it. I encourage John to write a sequel to this book, which of course has no final chapter...Besides he'll need to quench the thirst for knowledge of so many people...

Excellent
This book is truly an eye-opening experience. I highly recommend you read it for all it's worth, because this book offers a wealth of knowledge. Not only is John Perkins an incredibly intelligent man, but also a superb writer. I won't give away the plot or summary of the book itself, but I'll offer an excerpt to demonstrate how well written and crafted this book is.

He begins with the basic hard truth, that the "corporatocracy", a massive collusion of massive businesses, banks, and governments, are attempting to centralize the power of the United States in the world through exploitation and corruption. He then goes into a chronological explanation of the events of his life that lead up to his inclusion in this world-enveloping plan. Again won't I won't give away details, but reveal a very clever analogy on his part. As a young adult John found himself being interviewed for a position at the NSA, and while he did not end up there, it was not all for naught. The interview was largely focused on his past, the frustration with his parents, and the struggle he had with coping with his anger from his younger years. When he being trained to become a self described "Economic Hit Man", the NSA interview profile was used against him, all the information he had given about his past was used against him. His instructor used his very strengths and weaknesses against him, to shape him into what his employers wanted him to become. And his profession was outlined by this same strategy, take a nation's past and their strengths and weaknesses, and cater an argument or plan against them using this information. In this way, the global empire of the United States is expanded to encompass new satellite nations, not for their benefit, but for the benefit of Madison Avenue.

In conclusion, this book is fantastically written, and is a MUST read. This book is also an atonement on the part of John for the things he has helped to bring about around the world, and which I believe is a very sufficient, sincere, and heartfelt apology. By exposing this massive and subverting plot, he, and all liked minded individuals, hope to reverse the horrible consequences that have been brought upon these nations and their populations. This oppression was brought on by a disgusting and indifferent profit oriented system, the same that deprives even American citizens of basic needs, like affordable health care. (That's an argument for another day, its just simply an analogy) So please, read this, it will change your perspective, guaranteed. It's not about you, or me, or John, it's about all 6 billion of us on this planet that we are ruining for ourselves.

John Perkins:Fraud
To All:
Do not buy this book.John Perkins is a complete fraud.The book is rubbish.The USG and the big banks do enough dirty work.We don't need Walter Mitty's inventing such nonsense.Worked for the National Security Agency, did you?Sure.I suppose the CIA was too old hat for you.For the information of everybody out there, the NSA is the electronic intellgience and code-breaking arm of the U.S. intelligence community.Geeks with earphones and computer nerds.Important work, but the NSA has nothing at all to do with the kinds of things Perkins describes.Want to know what Perkins is?He is a typical gringo goofball who drifted down to Latin America (in this case, Ecuador) and picked up some half-baked nonsense from some leftist books.You find these lost souls all over the place in South America, Central America, and Mexico.He then got the bright idea of inventing his life of darring-do and selling it.Whew!Let this hairball ride on out of town.

Most of this Book is BS, But if true, SO WHAT?
Seriously, the New York Slimes said this book is BS, the New York Commie times who jump on anything anti-American, and the Washington Compost too, los of holes, lots of BS, but my main thing is, what if it's not?Do I care?Answer, NO!

So we upped the debt of countries where political influence was needed, GREAT.Glad to see the gov't is doing something to keep the world safe, because guess what?If Iran continued to do business with the USSR and they got their oil instead of us, we would have been screwed in the Cold War, we got the job done, this is chess it's not checkers.

Most people who read this book already have it in their heads that the US is an evil empire out to control the world and this feeds that, this tells them what they want to hear, throw in some figures, some percentages, and BOOM instant "facts" and people use them to convince others of foolishness.

Corpocracy Creates Empire
I was interested in learning the facts. Even now after the election I find them very interesting. Anyone see the Bill Moyers article, about how 1/3 of the American voting public do not care about the enviornment; worse than don't care - cutting down all the trees is going to make Jesus and the Rapture happen sooner?!?! If you are interested in exactly how the corpocracy has created an empire based on greed; read: Confessions of an Economic Hit Man by John Perkins!
Call 1-800-929-2929 to order! ... Read more

Product Description
The Economic Report of the President for 2010 is written by the Chair of the Council of Economic Advisers. An important vehicle for presenting the Administration's domestic and international economic policies, it provides an overview of the nation's economic progress with text and extensive data appendices.For more than sixty years, the Economic Report has provided a nearly contemporaneous record of how Administrations have interpreted economic developments, the motivation for policy actions, and the results of those interventions.This year's volume has attempted to stay true to this proud legacy.It provides a detailed economic history of the first year of the Obama Administration.It examines the economic challenges that we face as a Nation, the many policy actions that have already been taken to address these challenges, and the President's proposals for further action.The economic challenges facing the Nation when President Obama took office were among the greatest in our history.Last January, the American economy was truly in freefall.Real GDP was falling at an annual rate of more than 6 percent and the U.S. economy was losing jobs at the devastating rate of almost 800,000 per month. Our financial markets, having narrowly avoided collapse in the financial panic of the early fall of 2008, were paralyzed with fear, and borrowers of all sorts, from households to small businesses to large corporations, were having trouble accessing the credit necessary for normal economic activity.The threat of a second Great Depression was both genuine and terrifying. ... Read more

Customer Reviews (6)

Everyone should read.
Contains a lot the typical B/S you would expect in politics.Lots of contradictive wants and needs, (such as, the 3 year freeze on spending while increasing citizen benefit spending.) Gives a better insight to the president's plans, better than any news source will (ie MSNBC or Fox News.)A must read for any American who actually cares about what is going on with our nation.Just be prepared, as with any politics, to use your brain shovel because the b/s is waste deep.

Well written, BUT...
It's a very long read and extremely well documented, BUT as I was reading the 10 chapters I kept thinking of a college course I took in 1977 entitled "How to Lie with Statistics".The authors of this document could have written this college course as well.Just because it reads as believable doesn't make it so.The majority of the proposals will accelerate the budget deficits, not control them.The cap and trade proposals with their foundation in the need to control CO2 emissions is particularly troubling as are the health care proposals.The other chapters are full of more Big Government controlling more and more of our lives.No Thanks.

a sweeping economic agenda
With the release of the annual Economic Report of the President, the Obama administration laid out a sweeping economic agenda that includes overhauling health care, restructuring financial regulation and dealing with long-term budget deficits. But the backdrop for all those initiatives is an economy that, if the administration's forecast is correct, will be functioning well below its potential for years to come.

President Obama's first official economic report to Congress predicts lackluster employment growth this year and next, even after including the impact of a jobs bill whose prospects appeared uncertain in the Senate.

The report predicts the U.S. unemployment rate would average 10% for this year, would drop to 8.2% by 2012, and remain at levels higher than 6% until 2015.
The report also say the U.S. gross domestic product would increase by 3% in 2010, then rise to 4.3% in both 2011 and 2012 before slipping slightly to 4.2% in 2013 and dropping down to 3.4% by 2015.

The Economic Report of the President should be a must read read for every educated U.S. citizen, every year. The report provides a wealth of information about our nation's economic activity.

This is great
What a great service. I love having access to a document like this that I likely would never have sought on my own.

An informed citizenry is vital to a successful democracy
Thank you Amazon for making the Economic Report and the U.S. Budget available free to Kindle users.
These two documents are essential resources for any citizen who wants the facts, not opinions or spins, about our economy and our Federal government. ... Read more

Product Description
“Explains our global economy in a way that is (gasp!) actually entertaining.”—Book MagazineFinally! A book about economics that won’t put you to sleep. In fact, you won’t be able to put this bestseller down. In our challenging economic climate, this perennial favorite of students and general readers is more than a good read, it’s a necessary investment—with a blessedly sure rate of return. Demystifying buzzwords, laying bare the truths behind oft-quoted numbers, and answering the questions you were always too embarrassed to ask, the breezy Naked Economics gives readers the tools they need to engage with pleasure and confidence in the deeply relevant, not so dismal science.

This revised and updated edition adds commentary on hot topics, including the current economic crisis, globalization, the economics of information, the intersection of economics and politics, and the history—and future—of the Federal Reserve. ... Read more

Customer Reviews (181)

Enjoyable look at basic economics
This is a terrific introduction to basic economic principles. It could have been titled Economics for Dummies. Whelan covers most of the principles that are in introductory economics classes,but Naked Economics never feels like a textbook. What I especially liked about Naked Economics is Whelan's fairness, He never shows the ideological bias of say, Paul Krugman or Arthur Laffer. He just explains the principles of economics in an entertaining way. Naked Economics is a must read for economic novices.

Practical economics explained very well for noobs
I am a network engineer who usually reads technical books on TCP/IP and other network protocols.However, I have a great interest in the US and world economy but I never really understood how it all works.This book was a breath of fresh air.It explained many aspects of economics in a way that I could understand.It made me want to learn more about it while laying the groundwork for that knowledge.Highly suggested to everyone!

Great for Beginners!
I purchased this book as a gift for a friend.His feedback has been revealing, as the author touches on subjects with flair and simplicity, ideal forbeginners!

Excellent overview of economics as it is taught in college
I can't fault the book for not teaching the subject material well.The fact is, the author makes it very easy to follow Neoclassical economics (minus the charts, graphs, and equations) as it is currently taught in most universities.

The quibbles I have are twofold:

1. Being released in 2002, some of the information is dated, and makes the author look incompetent when it comes to using academic economic theory to explain depressions and recessions.He is shown to be utterly wrong.Perhaps if he were somewhat versed in Austrian trade cycle theory, whether in an appendix or a separate chapter, he could have redeemed himself somewhat.Neoclassical economics has few credible explanations for business cycles.

2. He seems to have an incessant need to keep stating (and restating, ad nauseum)the "need" for government (and a central bank) in a successful economy.He does it in such a way that I couldn't help but wonder if he happened to be suffering from some cognitive dissonance.He just wasn't very believable.
_________________________________________

In the end, I could only muster three stars for this book.He really did an excellent job at delivering flawed material.

Straightforward introduction to market economy
This is a great book.It is written in plain language so a layman like me can understand without pondering upon any perplexing and confusing jargons.The way the market works is explained in a very direct and clear way.It stresses, among aother things, the importance of lateral thinking, and consideration of ramifications in policies, in economics.Lots of humor.5 stars. ... Read more

Product Description

Customer Reviews (22)

Unreadable edition
This "General Books" edition was apparently made by using optical character recognition to typeset from an existing copy of the original book. The result is unreadable because the technique produced gibberish where there were smudges, underlining, etc. in the original copy. I have re-ordered (but not yet received) a more expensive copy of the book which appears to have been digitized and reset--and free of errors. Google also has a downloadable (pdf) version made by digitizing a copy of the book from a university library. Despite the errors, I've slogged through about three chapters and am blown away by the sense of being in the presence of genius--that's why I re-ordered the book in a more expensive edition. Because this is an important work, I think Amazon should delete the shoddy "General Books" edition from its offerings.

Poor quality book
While the subject is interesting and provides a world of insights, it is outragious that this particular edition is sold.The errors are in virtually every paragraph and become a distraction.Read a different book.

Not this edition!
Maynard Keynes' Economic Consequences of the Peace has long been recognized as a classic, and it takes on new significance in light of the recent meltdown on Wall Street.But if you want to buy a copy, you should forget this edition.It appears to have been scanned from an earlier copy, but no effort was made to clean up the text after scanning it.As a result, there are whole sections of gibberish, a mix of characters and symbols that makes no sense whatsoever.Much of the book is literally unreadable.

Kindel Edition lack formatting
I note that this Kindle edition has all the text, but none of the formatting. It does not have an active table of contents.

A much nicer version is available from Gutenberg - download the .mobi version. You can easily supply your own TOC by highlighting the chapter headings.

DO NOT BUY the "General Books" LLC edition
Do not buy the cheaper "General Books" LLC edition (featured above). It has so many typos and spacing problems that it is impossible to read.
... Read more

Product Description
If you think economics is a complicated discipline that’s reserved for theorists and the intellectual elite and has nothing to do with you, think again. Economics impacts every aspect of our lives, from what we eat, to how we dress, to where we live. Economics might be complicated, but it has everything to do with you.

Economics For Dummies helps you see how your personal financial picture is influenced by the larger economic picture. When you understand how what happens on Wall Street affects Main Street and how policies emanating from the White House impact the finances in your house, you’ll be able to:

• Learn how government economic decisions affect you and your family
• Make better spending decisions and improve your personal finances
• Maximize your business profits
• Make wiser investments

Written by Sean M. Flynn, PhD, Assistant Professor of Economics at Vassar College, Economics For Dummies covers all the basics of micro- and macroeconomic theory. The next time you need to understand an economic theory or calculation, whether it’s on the nightly news or on a spreadsheet at work, you’ll no longer be in the dark. Economics For Dummies covers all the history, principles, major theories, and terminology, including:

• How economics affect governments, international relations, business, and even environmental issues like global warming and endangered species
• How the government fights recessions and unemployment using monetary and fiscal policy
• How and why international trade is good for you even if you don’t appreciate French champagne, Irish crystal, or Swiss watches
• How the law of supply and demand can explain the prices of everything from comic books to open heart surgeries
• How the Federal Reserve controls the money supply, interest rates, and inflation
• Basic theories such as Keynesian economics, the Laffer Curve, and Adam Smith’s Invisible Hand

Presenting complex theories in simple terms and helping you decode the jargon, understand the equations, and debunk the common misconceptions, Economics For Dummies could be a big boon to your personal economy! ... Read more

Customer Reviews (32)

Perfect book!
I am currently taking an Economics class in college and I don't know what I would do without this book. It helped me get through some of the things I just did not understand from the actual textbook for the course. If your not familiar with Economics, or if this is your first time taking Economics, I highly recommend this book!

Economics for Dummies
Book was delivered without any damages. It didn't take much time even though I'm from Sri Lanka. The edges are not crumpled. Thanks to Amazon for their neat service.

Excellent
This book helped to break down the terms associated with economics.It provided real-life examples to help one put the terms and concepts into perspective.

High School Student tool
I purchased this book to help my High School senior in his Advanced Placement Economics class.He has been reading it and it has helped him to understand material presented in class.His teacher was also pleased that he is supplementing what is being taught in the classroom.His grade has come up and that's the plan.I highly recommend this book to parents for their students, whether in High School or College.

Excellent
Thank you very much for heplping me to find something to help my daugther with her troubles in her College subject, Economy. ... Read more

Product Description

“This is the real deal. Baumohl miraculously breathes life into economic indicators and statistics.”

–The Wall Street Journal

“This is the most up-to-date guide to economic indicators and their importance to financial markets in print. The coverage of less-reported indicators, especially those from nongovernment sources, is hard to find elsewhere. The inclusion of the actual published tables helps the newer student of the markets find the data in the public release. For anyone trying to follow the economic data, this should be next to your computer so that you can understand and find the data on the Internet.”

–David Wyss, Chief Economist, Standard and Poor’s

“I find Baumohl’s writing fascinating. In addition to the famous indicators, he includes many that I hadn’t heard of. I really appreciate that he tells you exactly where to find each indicator on the Web. Just about anyone who’s serious about understanding which way the economy is headed will want to read this book. It could be a classic.”

–Harry Domash, Columnist for MSN Money and Publisher, Winning Investing Newsletter

“Bernie Baumohl has accomplished something of real value in The Secrets of Economic Indicators. He has successfully demystified the world of financial and economic news that bombards us in our daily lives. Both professional investors and casual observers of the world of finance and economics will be grateful for what he has done. The constant stream of heretofore bewildering news from the world of business and finance can now be easily understood. Every businessperson or investor should keep a copy of Baumohl’s book close at hand as he or she catches up on the business, stock market, and economic events of the day. It is great, at long last, to have someone who has eliminated what may have been so perplexing to so many and to have done so with such remarkable clarity.”

–Hugh Johnson, Chairman and Chief Investment Officer of Johnson Illington Advisors

“Bernie Baumohl has written a must-read educational and reference book that every individual investor will find indispensable for watching, monitoring, and interpreting the markets. The daily flow of high frequency economic indicators is the stuff that makes financial markets move and that can signal the big trends that make or break investor portfolios. Most important, Bernie’s long experience in reporting economics for Time Magazine helps make the ‘dismal science’ lively and interesting.”

–Allen Sinai, President and Chief Global Economist, Decision Economics, Inc.

“Baumohl has a gift for taking a complicated subject and allowing it to read like a fast-moving novel. My confidence in reading and understanding economic indicators as portrayed in this book made me realize the possibilities this information holds for improving my personal net worth as well as navigating my business toward higher profits. I recommend this book if you care about your future finances.”

–Morris E. Lasky, CEO, Lodging Unlimited, Inc.; Manager and consultant for $6 billion in hotel assets; Chairman, Lodging Conference; Chairman, International Hotel Conference

“I think this is an excellent book. It’s well written, accessible to a variety of readers, deals with an interesting and important subject, and covers the topic well. It deserves to get a lot of notice and use.”

–D. Quinn Mills, Alfred J. Weatherhead, Jr., Professor of Business Administration, Harvard Business School

“Economic statistics, employment data, Federal Reserve surveys. Think they are boring? Think again! They can drive markets into a frenzy, causing billions of dollars to be made or lost in an instant. Bernie Baumohl brilliantly, clearly, and, yes, entertainingly describes what every investor and business manager should know about economic indicators: which ones move markets, how to interpret them, and how to use them to spot and capitalize on future economic trends. The Secrets of Economic Indicators is an extraordinary and insightful work–an enormously important contribution to the body of financial literature. Read it and then keep it on your desk. Consult it the next time you are deluged with a flurry of economic statistics. Your understanding certainly will be enhanced, and your portfolio will likely be as well.”

–Robert Hormats, Vice Chairman, Goldman Sachs (International)

“If you want to make money investing, this is an essential trend-tracking tool that will help get you to the bank. This book is the real deal. Bernard Baumohl miraculously breathes life into deadly economic indicators and boring statistics . . . he knows what he’s talking about, and his expertise proves it.”

–Gerald Celente, Director, The Trends Research Institute

COMPLETELY UPDATED! THE PLAIN-ENGLISH, UP-TO-THE-MINUTE GUIDE

TO ECONOMIC INDICATORS: WHAT THEY MEAN, AND HOW TO USE THEM!

Every day, investments bounce wildly in response to new economic indicators: statistics that provide crucial clues about the future of the economy and the markets. Now, you can use these indicators to make smarter investment decisions, just like the professionals. You don’t need an economics degree, or a CPA–just The Secrets of Economic Indicators, Second Edition!

Using up-to-the-minute examples and real-world stories, former TIME Magazine senior economics reporter Bernard Baumohl illuminates every U.S. and foreign indicator that matters right now. You’ll learn where to find them, what their track records are, how to interpret them, and how to use that information to make better decisions.

Baumohl has thoroughly updated this best-seller with new data, new examples, new indicators, and revised analyses–including a new assessment of the value of yield curves in predicting business cycles. Thousands of investors and business planners swore by the First Edition: these updates make it even more valuable.

• New! Today’s 10 most crucial leading indicators

Better ways to predict economic turning points in time to profit

• Get ahead of the curve with the latest U.S. indicators

New insights into U.S. employment, monetary policy, inflation, capital flows, and more

• Emerging foreign indicators you need to track

From China to India, Europe to Brazil...and beyond

• Making sense of indicators in conflict

What to do when the numbers disagree

• Finding the data

Free Web resources for the latest economic data

• Which economic indicators really matter right now?

• What do they mean for stocks, bonds, interest rates, currencies...your portfolio?

• How can you use them to make faster, smarter investment decisions?

• Simple, clear, non-technical, friendly, usable...the only book of its kind!

• By Bernard Baumohl, renowned economic analyst and former award-winning TIME Magazine financial journalist

New edition, with extensive new coverage:

• Many new U.S. and global indicators, from new employment reports to box office receipts

• New examples and up-to-the-minute data

• Updated analyses of yield curves and other key metrics

• More international coverage

• New rankings of leading economic indicators, and much more

About the Author xiii

What’s New in the Second Edition? xv

Preface xvii

Acknowledgments xxiii

Chapter 1        The Lock-Up 1

Chapter 2        A Beginner’s Guide: Understanding the Lingo 17

Chapter 3        The Most Influential U.S. Economic Indicators 25

Chapter 4        International Economic Indicators: Why Are They So Important? 325

Chapter 5        Best Web Sites for U.S. Economic Indicators 373

Chapter 6        Best Web Sit... ... Read more

Customer Reviews (53)

Great book
As some of the other reviews have already mentioned, this is an entertaining book that helps all audiences understand some macro-economic principles.One noteworthy mention is that it does not cover micro-economic priciples so do not purchase this book if that is the desired intent.

Do not mark the pages, because every page contains useful info!
I purchased this some time ago when I was a banker and have since lent it to several people.I have lent too many books to count, but this is the only book that has had the exact same reaction...Amazing!Some found it so useful they returned it quickly and picked one up themselves.

The key to this book is its simplicity and organization.It makes for both an explanatory book of dozens of indicators AND as a quick reference.I eventually used it as a financial advisor, filling in my calendar with each release of info.I used this book a few mornings each week to anticipate what would happen in the market after the release date for each indicator.Eventually I began compiling two email lists (weekly and every day an indicator was released) to send out emails to prospective clients and clients that watched the market.I would summarize the indicators being released and then what to expect from the results that morning or past week.It was the most successful marketing method I have ever come up with.

This book will not only make you seem like an expert, but allow you to understand and anticipate short-term market fluctuations.Don't take my word for it, look at all these reviews!

Great for non-economists
A book about economics that's written in plain English? Yup. If you want to depend less on the "experts," this book is for you. Of course, if you want to trust Wall Streeters to tell you where to put your money, well, that's up to you.

The book is all about how to get more information from readily-available reports about the economy, such as unemployment, without the usual lack of understanding and over-dramatization that we get from the talking-head newscasters who are usually hired for their appearance, not their level of knowledge.

Best Book on Economic Indicators
This is a great book and I strongly recommend to anyone in the financial industry or a business/economics/finance student.

Reading between the lines of economic indicators
Well, Bernard Baumohl has done us all a great service by organizing the blizzard of economic reports that government and other organizations crank out every week.At the beginning of each indicator, he posts the market sensitivity and the time, frequency, and source of each report.It also gives us some insight into the methodology of the reports, such as stating that the University of Michigan Consumer Sentiment Survey involves only 500 respondents.

There is certainly an overload of information, but this handy reference book allows you to be an informed consumer.

Dry, but well laid out, so you can read it in small pieces.Get it if you're a serious investor.

Stephen Morefield ... Read more

Product Description
The phrase "home ec" recalls fusty visions of baking and sewing classes, but this illustrated guide showcases the movement's true foundations: applying scientific methods to domestic work. Compiled from a wide range of vintage sources, Home Economics is chock-full of thrifty tips, time-tested advice, informative charts, and tasty recipes that gently teach the art and science of housekeeping. Inside is a wealth of information on health and hygiene, shopping and cookery, furnishings and decor, cleaning and safety, and so much more.

Old-fashioned, yes. But outdated? Never! This is real home economics that everyone will be proud to know. ... Read more

Customer Reviews (3)

practial advice
Purchased upon recommendation of oldest daughter who purchased as a wedding present for her little brother and his new bride.Book offers excellent time tested advice as well as amusing antecdotes for how to live and succeed in this world. I bought a copy for myself and as gifts for other family members.

Old fashioned book to be enjoyed by you and your friends.
Bought this book for a friend and made the mistake of reading it.Bought one for myself.

Adorable and practical
I saw this book reviewed in Coutnry Living magazine and had to have it. It's cute and useful too. I like the retro look with the old-timey illustrations. I thought it would be just a fun read but I've found it to be really good information, especially the sections on laundry and cleaning. I'm going to pick up a few more to give as gifts for friends too. ... Read more

Product Description

Customer Reviews (2)

Clear and incisive dissection of dangerous economic delusions which are still wreaking havoc
Whether you agree with the author's conclusions or not, Quiggin presents all the economic ideas discussed in a clear and comprehensive manner. I find his analysis convincing and imagine most other readers will also.

Think the zombies beat the author to his brain?
Cute title.Unfortunately, this author is a pathetic example of those willing to read into a crises their own predetermined version of events.Don't waste your time - there are far better economists worth your while who can justify a similar view of economics without resort to this author's childish exposition and incompetent rendering. ... Read more

Product Description
This completely revised and updated third edition of Thomas Sowell's instrumental work includes a new chapter on government finance. Basic Economics is a citizen's guide to economics--for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind anykind of economy--capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economyfunctions. ... Read more

Customer Reviews (99)

A must read for every world citizen!!!
Thomas Sowell is not only an astute American intellectual thinker, he writes in a style that anyone can clearly comprehend. This book should be mandatory reading for every American high school student before graduation. I would urge everyone who cares about the future of the planet to read and understand how true commerce works. The book is truly inspiring and a must for every thinking person's library. "A book to be passed down from generation to generation." Wayne Thiltgen, Tulsa, OK

Interesting to read but untrustworthy
I read this book fairly quickly because I found the subject matter interesting and I appreciated Mr. Sowell's writing style. In Basic Economics he always provided some contrast in views which is always an effective way to make a topic memorable and more intriguing. On the downside though, he was entirely too narrowminded in his approach to issues that are far from settled and call for multiple viewpoints. He could have easily concluded each paragraph with the phrase "And those fools think that [insert fallacy according to Sowell]," and the tone throughou would have remained intact.

I found it humourous but ultimately disappointing that the book rested on the straw man arguments of the Soviet economic model. I just couldn't trust his underlying premise that if something didn't work in the Soviet Union then the opposite approach, without any further nuance or qualification, must be correct. The failure of an utterly constrained and oppressed economic model as the Soviet model is insufficient evidence for allowing free reign of the market (it's conclusive evidence that Stalin was a nut).

I was ready to give up reading the book outright when I saw an interview with Sowell where he compared Obama to Stalin, Chamberlain and Hitler. How can someone with such absurd views be fit to tell me directions to the restroom nevermind educate me on the economy? (Which brings me to another issue: when we fixate on ridiculous issues like comparing a duly elected leader to genocidal maniacs, politicians across the board get a free pass on the real issues that assail our country. Remember when Senator McCain launched his campaign by claiming Obama was a paedophile? Talk about contempt for the real issues.) But the book, as I said, is interesting to read and it did teach me a great deal about the economy. Now I have to find another, more balanced, book to verify what I've learned is accurate.

Looking for the truth?
Am I the only one who found an answer to a fundamental question of Life in this amazing book?

Raised in a liberal Marin County California household was a frustrating youth.Parents, teachers, media, seemingly "society" itself, framed the ways of the world, what I should expect, how I should act, how the world worked.I should defer to the collective needs and desires of others and them to mine and all would be happy.I grew up with an increasing sense distrust of others, of a hypocritical world around me.What "they" said didn't work, it did not make sense.All were very willing to accept my contribution to their needs, but mine were never met. I struggled to find the truth, trying one philosophy after another.I tried to build my own model with little success.

Thomas Sowell's book, Basic Economics, blows away the obscuring, misleading, cobwebs of untruth and offers an irresistible invitation to recognize the unchangeable bulwark of "Truth", and like physics, the inviolable laws of economics.It is a foundation for the discovery of "I Am", of self and beyond self.It is the perspective from which to live the adventure of life.The world makes sense now.

Basic Conservative Dogma
I have the audio version of this book and if you are interested in learning about economics do not buy anything from Thomas Sowell. He is a conservative political agent and this book is masquerading as economics. You would be far better off buying principles of macroeconomics and principles of microeconomics textbooks. Some of the instructors at my college are using these ones:
http://www.amazon.com/Economics-Campbell-McConnell/dp/0073126632/ref=sr_1_3?s=books&ie=UTF8&qid=1280546191&sr=1-3
http://www.amazon.com/Economics-U-Seventh-Nariman-Behravash/dp/0393926052/ref=sr_1_3?s=books&ie=UTF8&qid=1280546603&sr=1-3
They cover both macroeconomics and microeconomics. You will also need some Algebra under your belt if you are going to work any of the models.

Thomas Sowell repeats a lot of failed agenda driven arguments from the Austrian school of economics. This is just a distilled update of the ideas of Ludwig Von Mises and Eugen Von Bohm-Bawerk. The latter was quoted as argued "Labor cannot increase it's share at the expense of Capital" and the former assaulting all forms of government intervention and regulation. Many of the arguments made in this book were thoroughly discredited in the debates between the Austrians and the Keynesians in the 30's and then again in the 70's when the Monatists of Milton Friedman went head to head with the Keynesians.

One of these false arguments is that unemployment is caused by the price of labor being held higher than it's natural rate due to minimum wage laws. This is the argument that labor follows the rule that "something at a lower price will be consumed more, than at a higher price", so if labor is cheaper more people will be hired. The rule applies to goods and services, and Thomas Sowell extends it to capital, such as labor. Labor isn't consumed based on it's price. It is consumed based on its relation to the price of the goods and services it produces. It doesn't matter how little you are willing to work for, if your boss cannot sell what you would produce then you will not have a job. People are not going to hire the unemployed to dig holes and fill them back in if only the government would let them work for a dollar an hour. Thomas Sowell should know this. If minimum wage laws were to be abolished all it would do is allow bosses more leeway to decrease labor as a capital expense so that they can realize higher net profits. In other words, 'See that guy in the unemployment line over there? He's really hungry and he will work for $4 an hour and if you want to keep your job you better do it too.' This isn't economics. This is politics.

Another is that all of his arguments against bureaucracy, central planning and subsidies are used against government to justify a 'free market', also apply to private firms and he ignores this throughout his entire book. Corporations have just as much bureaucracy as government. They just don't call it that. They call it administration. The people on the ground closest to the problem are not the decision makers and have to file just as much paperwork, through swarms of middle management types, to try and get anything done just as much as any government entity.

All major corporations are centrally planned. Every store manager files business reports that are sent to district headquarters where district managers make decision based on them and file their own reports, that go to regional headquarters for regional managers to make decisions and so on and so forth. He criticizes an example of Soviet central planning in his book where a wheelbarrow factory manager runs out of the right kind of paint and so has to stop production instead of using the wrong color of paint they have on hand. This situation isn't unique to Soviet production and an American corporate manager would be forced to do the exact same thing if he did not have the authority to change the production order, as the Soviet factory manager didn't.

Private firms will also transfer money from a successful store to an unsuccessful store to keep it afloat. This is subsidizing just the same as when the government bails out a store. In the private arena this is even a tactic. A large successful corporation will build a store in an area with high competition from several smaller businesses or L.L.C.s and run it in the red with low prices. They subsidize the losses with their other branches until their competition can't take the losses anymore and go out of business. After achieving market dominance they bring the prices back up to make the store profitable again.

There are many other fallacies in this book but to include all of them would turn this review into a book all on its own. So why the bias? Why argue that governments as legal entities shouldn't do any of these things but major corporations as legal entities can? Why try to convince people to vote away labor laws that protect their livelihood? I think it has to do more with the desired concentration of power rather than allocating resources for the benefit of all. This book isn't about economics. It is about politics. One big fat lonely star for trying to manipulate me with this propaganda pamphlet of conservative dogma.

Basic Economics
Except for gummy stickers in several places on these books, they were in excellent condition (5 stars without the tags).For a good quality hard bound book, the price was very good. ... Read more

Product Description
With its clear and engaging writing style, PRINCIPLES OF ECONOMICS, 5E, continues to be one of the most popular books on economics available today. Mankiw emphasizes material that you're likely to find interesting about the economy (particularly if you're studying economics for the first time), including real-life scenarios, useful facts, and the many ways economic concepts play a role in the decisions you make every day. ... Read more

Customer Reviews (85)

Excellent
Exactly the same book needed for a high school Econ class; school bookstore had a price tag of over $275!Saved over $100; however, it did not include the CD or the internet access code, which the class is not using!

Happy with this purchase!
This was a good buy. The book is very expensive from my school's bookstore, even the used copies. So this was a reasonably good price, and the book was in perfect condition. Overall, a very good thing.

Great text book
From my son...The material is well organized and interesting.Best of all, he aced his first exam!

Needed affordable school book.
Company sent this book at a fraction of the cost of a book store.Great to have this resource when saving money. Received in excellent condition.

Satisfied Customer
My order was quick and prompt so when my class started I was ready, and the book was in great condition. ... Read more

Product Description
In today's global recession, strong management of firms and organizations are of the utmost importance. Best-selling Economics of Strategy focuses on the key economic concepts students must master in order to develop a sound business strategy. Bringing economic theory and strategic analysis to life in an engaging and uniquely modern way, Besanko et al. have collaborated for over 15 years to build an introductory business course that combines basic concepts from economic theory of the firm and industrial organization with ideas from modern strategy literature.

The newly revised 5^th edition offers more real-world applications to make materials studied in undergraduate Managerial Economics, Business Strategy, and Industrial Organization courses relevant. Armed with general principles, today's students—tomorrow's future managers—will be prepared to adjust their firms' business strategies to the demands of the ever-changing environment. ... Read more

Customer Reviews (28)

Nice seller
nice seller, prompt responses and prompt refund when we finally figured out the loss of the book during shipping.

Economics in Strategy
Book is helpful for an economics angle on strategic choices, but fails to capture some of the qualitative elements that are generally part of a strategy course education.

gerat business strategy book
Specially for people who want to go higher in the organization and contribute in fetching some real profits or do the same for their own business.

Very good text book
I had class with professors Besanko and Dranove at Kellogg and I can say that the book is the product of very talented and bright professors. It is very well written and has insights on real situations that are extremely useful. I like it very much...

a really good textbook
I usually hate reading textbooks.This, like any other, has its quirks and can get long-winded at times.However, if you actually read it, there's a lot of interesting material that I was able to pick up on the first read.Explanations are clear, the implications of the material are discussed, and there are good real-world case examples (mostly short, thankfully) illustrating the concepts in action.One of the best textbooks I've owned. ... Read more

Product Description
The Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader. The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider's perspective needed to present the current state of money and banking and explain the latest debates and issues for today’s readers. For professors who teach with less emphasis on monetary theory and prefer to focus more time on financial institutions, the Business School Edition is the ideal alternative.

Introduction: Why Study Money, Banking, and Financial Markets?; An Overview of the Financial System; What Is Money? Financial Markets: Understanding Interest Rates; The Behavior of Interest Rates; The Risk and Term Structure of Interest Rates; The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis. Financial Institutions: An Economic Analysis of Financial Structure; Financial Crises and the Subprime Debacle; Banking and the Management of Financial Institutions; Economic Analysis of Financial Regulation; Banking Industry: Structure and Competition; Nonbank Finance; Financial Derivatives; Conflicts of Interest in the Financial Industry. Central Banking and the Conduct of Monetary Policy: Structure of Central Banks and the Federal Reserve System; The Money Supply Process; Tools of Monetary Policy; What Should Central Banks Do? Monetary Policy Goals, Strategy, and Tactics. International Finance and Monetary Policy: The Foreign Exchange Market; The International Financial System. Monetary Policy: The Demand for Money; Aggregate Demand and Supply Analysis; Transmission Mechanisms of Monetary Policy: The Evidence; Money and Inflation.

For all readers interested in money, banking, and financial markets. ... Read more

Customer Reviews (31)

His treatment of money is the book's saving grace
The book, on the whole, is an average introductory textbook that follows the standardized view of mainstream economics (the accuracy of that standard is left for a different review). Mishkin begins by telling us that financial markets and institutions are fascinating, and then spends the next 400 pages treating the subject in a tired and linear fashion.

His tone rarely strays from that of the typical bored professor, with his treatment of money being the exception. When he explores money, Mishkin's tone is suddenly vibrant with vivid examples and colorful wording.

If you must buy the book, do it for the money.

good
Although our instructor request 9th edition, i got the 8th one, it really does not make that much difference, and i buy the access code online separately even though it does not come with the used book, it still save money.

Appreciation
The product was all what I expected it to be. The delivery time was perfect and I would buy again from the seller

fast and reliable service
I am new to ordering books from Amazon, but after multiple orders I have found the majority of the sellers are quick about shipping out the books, once your order is placed. The Money and Banking texted arrive in time for my class.

A
Got here in great time, but the book didn't have the content I needed to help me in my class. ... Read more

Product Description
From one of America's most distinguished economists, a short, brilliant and revelatory book: the fundamental ideas people most commonly get wrong about economics, and how to think about the subject better.

Economic Facts and Fallacies exposes some of the most popular fallacies about economic issues--and does so in a lively manner and without requiring any prior knowledge of economics by the readers. These fallacies include many beliefs widely disseminated in the media and by politicians, such as fallacies about urban problems, income differences, male-female economic differences, as well as economics fallacies about academia, about race, and about Third World countries.

One of the themes of Economic Facts and Fallacies is that fallacies are not simply crazy ideas but in fact have a certain plausibility that gives them their staying power--and makes careful examination of their flaws both necessary and important, as well as sometimes humorous.

Written in the easy to follow style of the author's Basic Economics, this latest book is able to go into greater depth, with real world examples, on specific issues. ... Read more

Customer Reviews (89)

The best economics book I've ever read
My first Sowell book.He is the standard for research, logic, and persuasive technical writing.

Eye-opening to the point of being a complete revelation
Thomas Sowell is a leading American economist and social philosopher, who has taught economics at such leading institutions as Cornell and UCLA. In this fascinating book, Dr. Sowell examines a number of subjects where discussion of the subject was dominated by fallacious thinking, including urban laws, male-female economic differences and so much more. He takes a look at the subjects, and examines the underlying economic facts and the fallacies that are represented by simply-minded, knee-jerk solutions to the problems that often do no more than exacerbate the problems, rather than fix them.

Overall, I must say that I found this to be an absolutely fascinating book. Dr. Sowell brings a clear-minded examination into the underlying statistics of the problems he discusses, showing how the fallacious solutions that are often tried are spurred by incorrect, often purposely so, understandings of the problems involved. Indeed, as he shows how certain facts are left out of the examination of the problems, you begin to realize just how unscrupulous certain parties have been in pushing through solutions that they know will not truly address the problems.

This is a very fascinating book, one that is eye-opening to the point of being a complete revelation. I am very glad that I read this book, and I highly recommend it to everyone. It will challenge you to look again at many received "truths" and compare them with the reality of the situation.

Sowell breaks down problems from an economist's perspective
Sowell breaks down topics such as College tuition and funding, urban sprawl, and women's pay inequality from his perspective as an accomplished economist.The book is well written and brought to my attention more factors involved in the economics of everyday life.

Great Book
Like Basic Economics, it's written in layman's terms.I wish more of the general public would read this and his other books so that they better understood the nature of economics and how poor political choices are often based on a lack of understanding about economic realities. Definitely recommended.

A seriously flawed book
There are a lot of serious flaws with this book.A lot of oversimplified conclusions based on incorrect assumptions.

Rather than focusing on the chapters on racial and gender issues, which press on emotional buttons too easily, I'm going to focus on the problems with the chapter "Income Facts and Fallacies" since these are flaws that can be more calmly discussed using measurable standards.

EXECUTIVE COMPENSATION:Sowell's position is that CEO pay may seem outrageous to outsiders but is simply the corporation paying the market price for talent.A corporation will act in its own self interest and pay what it deems is the best price for talent.A wonderfully simple explanation based on the flawed assumption that the people deciding CEO pay are the same people who own the company.What Sowell fails to mention is that unlike in small companies that are managed by their owners, the owners of large corporations (shareholders) do not make the decisions about management's pay.Those decisions are made by the board of directors, who are often times chaired by the very same CEO whose pay they are deciding, or filled with board members nominated by that CEO.Often times the salary of the CEO reflects the influence that CEO holds over the members of the board rather than some market determined price for talent.

REAL INCOMES:Sowell claims that when you factor in non-wage compensation like health benefits and retirement benefits today's workers are earning just as much as those of a generation ago, maybe even more.But compensation is only half of the picture when it comes to real incomes, the other half of the picture is purchasing power that those wages command.Getting a 10% raise sounds nice but if your expenses increase 20% due to inflation then your real income has actually decreased.Sowell addresses this by pointing out how inflation in consumer goods is merely the reflection of improvements in the quality of those goods over time ("if Chevrolets today contain many features once confined to Cadillacs [then that explains why Chevys cost more now than before]").However, Sowell fails to mention that the largest expenses faced by households today (housing costs, healthcare, tuition, insurance) have all increased beyond the rate of inflation in consumer goods.Who cares if the price of a laptop computer has decreased by 10% if the cost of rent or college tuition or health insurance premiums have tripled during the same time.By focusing only on the nominal wages and benefits of workers while ignoring the purchasing power of those wages Sowell paints a misleading picture of the real incomes of workers today.

If this book was written by some undergraduate political science major then I could dismiss these issues as the sloppy mistakes of an amateur but when a man with Sowell's training makes these mistakes I take a more cynical view.I believe that Sowell is deliberately misrepresenting his facts in order to mislead the reader.He leaves out too many important details that don't fit his narrative.At the end of the day this is not a book about economic "facts and fallacies", instead it is a collection of the author's opinions that he declares to be "facts" based more on ideology than on actual data.


... Read more

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Customer Reviews (31)

Excellent introduction to economic reasoning
Thomas Sowell is an excellent writer and thinker.I bought this book for a friend with an interest in the economics of public policies, but with no formal economic training.The book is outstanding for this purpose.It is also an enjoyable read!

My first Sowell book and I'm hooked
Thomas Sowell's writing style is amazing.He has the ability to take complicated ideas and write about them in a way that is both understandable and fun to read.I really couldn't put this book down.He clearly lays out several specific cases where economic freedom is the key to a better quality of life; and several examples of the poverty that can result when that freedom is taken away.It will definitely make you think twice before believing the next politician who promises they can deliver on The Free Lunch.

Very enlightening!
I had previously read "Basic Economics" by the same author, and this book not only adds more insight but shows how it applies to situations that are very important today. Great read - I'm recommending it to my family and friends.

Great chapter on the economics of medical care!
I haven't read anything in this book except the chapter on the economics of medical care, however that was fantastic and may be worth buying just for that.

Insightful and rich account of the differences between political and economic decisionmaking
Sowell's main thesis is that political decision-makers, which include both politicians, administrative agencies, and large government bureaucracies, often are rewarded for what he calls "stage one" thinking. In other words, because a politician's main objective is to get re-elected, policies which are popular and appear to, or do, have short-term benefits are often pursued without regard to the policy's long-term consequences. Ultimately, the politician will not be rewarded for the benefits that accrue in 10 or 20 years from the superior policy, but may be voted out of office for his unpopular stance.

The basic claim of Applied Economics is that political policies must be analyzed, not based on their avowed goals, but rather on their foreseeable short AND long-term consequences. By considering the incentive policies such as rent control create, it is easy to see how policies that sound good, and are therefore popular, may have disastrous results, often for precisely those persons whom the policy is designed to protect. To establish this point, Sowell amasses significant historical and empirical evidence to back up his claims in a variety of topics. His analysis of the economics of housing, immigration, and insurance are particularly excellent.

Free and Unfree Labor:
The first topical discussion begins with a history lesson, providing an eye-opening account of the many forms of unfree labor. Americans tend to think of labor as either being free (wage labor) or unfree (slavery), but in fact, there were many forms of labor that fell somewhere in between these poles. Sowell's economic analysis explains why white Irish immigrants rather than black slaves performed some of the most dangerous manual labor, why slave plantations overseen by owners resulted in less brutal behavior than those overseen by third parties, and why the south developed a self-sustaining population of slaves while other colonies and nations did not. Ultimately, Sowell provides strong evidence for the fact that slavery not only exacted a massive human toll, but also led to the wasteful allocation of human capital, and thus resulted in the South's inferior economic stature.

Economics of Housing:
I found this section to be the most interesting. Sowell convincingly shows how land use restrictions such as zoning have led to massive increases in land prices in CA and elsewhere, resulting in astronomical housing prices, and horrid traffic as a result of the need for middle-class workers to live farther and farther from their place of work. Rather than focusing on anecdotes, Sowell cites to empirical research which has established that zoning restrictions, rather than responding to escalating land and home prices, have rather caused such increases. He also shows how "rent control" has resulted in a reduction, rather than an increase in housing for the poor.

Discrimination:

Unlike many authors, Sowell begins by careful defining his terms - prejudice, bias, and discrimination. He explains the difference between reliance on general group attributes (elsewhere referred to as statistical discrimination) and prejudice (prejudgment). He explains how such discrimination may in fact be highly rational.

Sowell differentiates between "taste discrimination" - a preference for one group over others, versus discrimination based on a group's perceived inferiority.

Most importantly, Sowell discusses what is so often ignored - that discrimination imposes costs not only on those who are discriminated against - but also on those who discriminate. He uses economic analysis to explain why an individual or organization's racist preferences don't always result in more discrimination. Because racists, like anyone else, respond to incentives, economic realities often discouraged organizations from acting on their racist beliefs. Sowell asserts that blacks were allowed in the entertainment business in the 1920s, despite rampant racism, because the cost of exclusion in the highly competitive business was high. In contrast, where costs were low - for example in government (the army, public universities etc.) and in government-created monopolies such as AT&T - NO blacks were allowed until several decades later.

In addition, Sowell describes how anti-discrimination laws may in fact result in greater discrimination. For example, empirical evidence suggests that the ADA (Americans with Disabilities Act) resulted in REDUCED hiring of disabled persons because the "reasonable accomodations" required by the statute were so costly that employers chose to stop hiring disabled persons rather than comply. Because of the small number of disabled persons in the labor market, it is very difficult if not impossible, to establish statistical evidence of discrimination. Presented with a remote chance of liability for discrimination and very high costs of compliance, many companies have simply not hired disabled persons. Thus, the ADA has largely harmed rather than helped the group that it sought to protect.

Despite these excellent sections, I found Sowell's analysis of the health care system to be deeply flawed. While he raises many valid points, he fails to address the benefits of socialized medicine. Universal coverage encourages preventative care, which like insurance generally, reduces the total cost of preventing harm. Uninsured persons often allow conditions to worsen, and only then report to the E.R. at which point the cost of treatment is dramatically higher. This imposes needless human and economic costs on society. Preventative treatment often yields LESS harm and LOWER cost. There is substantial empirical evidence to this affect, yet Sowell ignores the area entirely. He simply mentions that uninsured persons can always go to an E.R. He also ignores the fact that the E.R. can do nothing about chronic illnesses which require surgery or alternative treatment.

Sowell still makes many valid points, the most important of which is the need to allow financial contributions to organ donors. Steve Levitt makes the very same argument in SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance. Others such as Richard Posner and Prof. Becker have done so as well. Unfortunately, while such a policy could eradicate the waiting periods for organ transplants and thus save tens of thousands of lives a year, it will almost certainly be rejected due to political considerations for the general reasons Sowell discusses.

Overall, I found Applied Economics to be a very thought-provoking and insightful text. I learned a great deal from Sowell's historical account of immigration and slavery, as well as his discussion of the economics of housing. While I did not agree with all of his claims (reflected by the nearly 200 notes I took in my Kindle :P), the book made me think a great deal, which is always a positive attribute. Highly recommended.

Kindle Specific: The book is properly formatted, and the Table of Contents provide links not merely to the main chapters but to the various subchapters. Endnotes are hyperlinks, and therefore, it is easy to navigate from the main body of the text to the endnotes. I quite enjoyed reading this book on my Kindle as I found it easy to navigate, annotate, and highlight. ... Read more

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Customer Reviews (11)

Great content and, yup, learning CAN really be fun
This is a really special book that delivers textbook-level content, yet fulfills it's "cartoonish" promise. Although I'd picked up a bit here and there, I'd never actually taken an economics class nor read a textbook. There cannot possibly be a more enjoyable, entertaining, easy-breezy way to ramp up than reading this book. It's like "buttah" - it just melts in your brain. I learned a great deal, effortlessly, and I got a huge kick out of it. Funny, poignant and fascinating.

Eric Siegel, Ph.D.
Conference Chair, Predictive Analytics World and President, Prediction Impact, Inc.

Make it as simple as possible..
Great book! The explanations are spot on and the comics are amusing as well.

I recommend this for students and life long scholars of all ages.

Chris

Engaging, and Useful -
Organized in good textbook fashion, "The Cartoon Introduction to Economics" is divided into three major units: 1)'The Optimizing Individual,' 2)'Strategic Interactions,' and 3)'Market Interactions.' Within these major units the authors provide adult treatment of important topics like decision trees, Pareto thinking, taxes, supply and demand, and many others. The material is cute, funny, and easy to understand. The only problem: How will students memorize all those cartoons and learn to quickly reproduce them on an exam?

I'm looking forward to Volume Two: Macroeconomics, when they show us how to fix the economy and bring back our jobs from Asia.

Considered Awesome by Australians!
This book is amazing and hilarious!I first came across Yoram Bauman on […]
and I have visited his blog regularly ever since.I pre-ordered the book because I knew from seeing his stand-up that it would not dissappoint and it's hasn't.
I'm a Economics undergraduate student in Sydney Australia. The content in this book summarises the basic information I learnt in my first year at university but, it's done in a really smart, easy to understand and funny way.
I recommend this book to who ever enjoys economic theory or any parent who has a child who is struggling with micro-economic theory.

I can't wait for Volume 2!!!!

Mon
Sydney, Australia

Good complement to the usual text
Students will be drawn in by the lighthearted approach and Bauman's explanations will clarify points that don't always come through from a graphical analysis.At under $8 it's a steal relative to economics texts. Recommend recommending it to an Intro Micro class as a complement to one of the usual texts.In case you haven't seen it yet -Bauman's parody of Mankiw's ten principles of economics at [...] is hilarious. ... Read more

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McConnell and Brue’s Economics: Principles, Problems, and Policies is the leading Principles of Economics textbook. It continues to be innovative while teaching students in a clear, unbiased way.The 18th Edition builds upon the tradition of leadership by sticking to 3 main goals: help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy. ... Read more

Customer Reviews (21)

economics book
This book was just as it was said to be. It was delivered on time and in great shape. i would definantly recommend this seller.

could have been better but not bad
overall the book was all there but the condition was not great...it said it was in good condition but i would say poor, besides that and it being overpriced for the condition i would say that the book was good.

i paid for what i expected and it was worth it
I just received the book and just as described it's just like new. No torn pages, No stains, and No complications with delivery.

The
The text book arrived on time and was in great condition. Would buy from seller again.

McGrrrr Hill
The text is great, the presentation and publisher are horrible.
McGraw Hill's Connect feature is just about the worst designed online homework service out there (I've used several others). It's slow, it will drop your connection and your answers. It isn't encrypted like the other services out there, so if you enter any personal information or someone happens to be just a little malicious your answers can be altered. If you have any choice in the matter (your professor hasn't assigned this) do not use this service.

The test questions often have incorrect information as can be easily seen in practice tests that outline the discrepancy between the stated problem and the numbers the program uses to calculate your now incorrect score! It is obviously written by English as a Second Language writers with numerous significant grammatical errors. Also, the form fill feature that you might see for entering shipping addresses online? This saves your answers into the text boxes - great for when you've answered everything and then get disconnected, bad for when you're trying to learn or take a quiz. ... Read more

Product Description
The New York Times bestseller: the Nobel Prize–winning economist shows how today’s crisis parallels the Great Depression—and explains how to avoid catastrophe. With a new foreword for this paperback edition.In this major bestseller, Paul Krugman warns that, like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression have made a comeback. He lays bare the 2008 financial crisis—the greatest since the 1930s—tracing it to the failure of regulation to keep pace with an out-of-control financial system. He also tells us how to contain the crisis and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman’s trademark style—lucid, lively, and supremely informed—this new edition of The Return of Depression Economics has become an instant classic. A hard-hitting new foreword takes the paperback edition right up to the present moment. ... Read more

Customer Reviews (120)

Best description of our current economic situation.
It is short concise and to the point. I think that is the strong points to this immensely valuable book. Krugman doesn't try to wow you with jargon or literary acumen he just simply states the facts as he sees them. I was raised a liberal and have never understood the Friedman economics fascination of the 80's and so a lot of the book was preaching to the choir. However, there were quite a few things he had to say that truly surprised me. If you are a Keynesian liberal type I think this book will surprise you in many ways and is a treasure trove of clear concise information. If you are a Milton Friedman/David Stockman trickle down theory type this book might offend your disreputed philosophy and I wouldn't recommend it to you.I thought I had understood our economic situation (and luckily I did well enough not to make some of the common mistakes) but this book filled many gaps in my knowledge. A good read.

Economics for everybody - how money makes the world go around
I find the book very easy to read, and very interesting. The reader get an overview of the world economy. Krugman is useing examples that are easy to understand. They gives you an idea how complicated economic systems work. I sometimes think he goes to easy on some issues. I strongly recomand you to read the book, even if you don't understand economics. Krugman illustrates how money makes the world go around.

A timely, well-written macro primer
Krugman made his name as an economist who could do the heavy mathematical lifting that passes for intellectual machismo in the discipline but who also understands the basic intuitive insights of economic modeling. In this book, he explains in layperson's terms how truly depressed (zero-interest rate, high unemployment, low capacity utilization) economies operate according to a bizarre up-is-down logic that was first identified by John Maynard Keynes. The way such an economy works is deeply counter-intuitive, and having it explained clearly is a real public service, even if Krugman's Cassandra-like warnings have been ignored by policy makers and most pundits. Read this book to get a grasp on our contemporary (mid-2010) macro-economic predicament.

Old recycled ideas -

Old recycled ideas.Not very helpful in addressing the massive debt problems that have caused the panic of 2009 and continue to plague the USA.

Krugman is skilled at explaining economic theory
I highly recommend 'The Return of Depression Economics and the Crisis of 2008' for the layman who wishes to understand the root and possible remedy for our current economic woes!Krugman has an uncanny ability to explain complex economic issues in an accessible, understandable manner.I particularly appreciate his explanations of some of the economic instruments or activities (hedge funds, currency trading, derivatives, etc.) that got us into this mess!

I plan to re-read the book in a few months! ... Read more