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Economics: The User's Guide, by Ha-Joon Chang
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In his bestselling 23 Things They Don't Tell You About Capitalism, Cambridge economist Ha-Joon Chang brilliantly debunked many of the predominant myths of neoclassical economics. Now, in an entertaining and accessible primer, he explains how the global economy actually works--in real-world terms. Writing with irreverent wit, a deep knowledge of history, and a disregard for conventional economic pieties, Chang offers insights that will never be found in the textbooks.
Unlike many economists, who present only one view of their discipline, Chang introduces a wide range of economic theories, from classical to Keynesian, revealing how each has its strengths and weaknesses, and why there is no one way to explain economic behavior. Instead, by ignoring the received wisdom and exposing the myriad forces that shape our financial world, Chang gives us the tools we need to understand our increasingly global and interconnected world often driven by economics. From the future of the Euro, inequality in China, or the condition of the American manufacturing industry here in the United States--Economics: The User's Guide is a concise and expertly crafted guide to economic fundamentals that offers a clear and accurate picture of the global economy and how and why it affects our daily lives.
- Sales Rank: #25532 in Books
- Published on: 2015-10-20
- Released on: 2015-10-20
- Original language: English
- Number of items: 1
- Dimensions: 8.24" h x 1.03" w x 5.53" l, 1.00 pounds
- Binding: Paperback
- 384 pages
Review
“The dismal science rendered undismally, even spryly . . . lively, intelligent, and readily accessible.” ―Kirkus Reviews
“This excellent economics primer is written 'in plain terms' for a college-educated reader; it follows efforts by some academics to seek a readership market beyond the classroom.” ―Booklist
“A practical guide that shows the importance of the subject as a worldview and how it fits into everyday life.” ―Library Journal
“This book should be the poster child for the word 'tweener.' Not quite an introductory text (although that is the category into which the author places it), the book is 'a mile wide and an inch deep' and includes 'everything but the kitchen sink' in terms of level of detail and scope of coverage [ . . . ] an interesting, entertaining, and worthwhile contribution that offers a picture of the global economy and how and why it affects daily life. Summing Up: Recommended. Lower-level undergraduates and above; general readers.” ―A. R. Sanderson, University of Chicago CHOICE
About the Author
Ha-Joon Chang teaches in the Faculty of Economics at Cambridge University. His books include the international bestseller Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Kicking Away the Ladder, winner of the 2003 Myrdal Prize, and 23 Things They Don't Tell You About Capitalism. In 2005, Chang was awarded the Leontief Prize for Advancing the Frontiers of Economic Thought.
Most helpful customer reviews
25 of 27 people found the following review helpful.
A pragmatic, interesting and smart introduction to the "Dismal Science" - a great read
By James Beswick
I studied a couple of units of economics at college and it didn't find it a particularly accessible subject. Thankfully, Chang takes a pragmatic and passionate approach to the subject that explains the core concepts and ideas in a much clearer way than the dreaded textbooks I had to endure. Balanced yet persuasive, the book starts with the big picture of economics since 1776 and then zooms into topics with well-selected examples and a sense of context that allows even a casual reader to walk away with not just knowledge about the subject but the desire to learn more. Given my wariness from my college experience, I think this is a huge testament to Chang's skill in presenting a subject he clearly understands and cares about, with a writing style that keeps the reader turning the pages.
17 of 18 people found the following review helpful.
Very Good Job of Relating Economic History and Theories to the Real World; Lively and Well-Written
By Elisa 20
Economics--the principles about money in various situations both for the individual, national and/or global level--effects everyone in every part of the world. It should be one of the most fascinating subjects to learn about and yet is often one of the most tedious, pedantic and dull ones.
Ha-Joong Chang's goal is to remind readers what economics really is, why it matters, why we should care about it and how it really -can- be interesting AND make sense. What makes this book successful is that he is (1) knowledgeable (an economics professor at Cambridge University), (2) writes in understandable language using many real world examples to clarify economic concepts and (3) shows the differences and similarities of the world's main economies, why it's important to know, and how we are all interconnected.
I especially like that he is not pushing the same old "free market; free trade" point of view that most U.S. economists have. His goal is to give readers -several- different ways to analyze economies and let us apply them and evaluate for ourselves which ones are best.
His slightly irreverent "tone" as a writer/teacher is also refreshing. From the beginning, he suggests people can read the book in different ways, depending on whether they have "ten minutes (for chapter titles and the first page of each--a sneaky way of "baiting the hook" in the hope he'll grab our interest to go further), "a couple of hours" (Chapter 1 & 2 and the Epilogue, then skim at your heart's content) or "half a day" (for section titles and italicized summaries in each section, plus if you're fast the introductions and conclusions in each chapter)", Obviously, his preference is for readers to read the entire book, but it's refreshing to see an economist who has structured his book so that people still -can- get something meaningful out of it without reading each and every word in each chapter. He has enough confidence in his work to hope to draw you in to read the entire book, but if that doesn't happen, he assures readers that they still can get something of value from doing the above and don't need to plod through Chapter 1 and drop the book right there if that particular part doesn't speak to them.
The chapters are short, the type is large, the sentences are crisp, well-organized and even, occasionally, have a bit of humor. His references to real world companies and real world problems and what economics means in those context actually -does- make the theories he is teaching about much more relevant and much more interesting than in most econ books. (It is also -easier- to remember the concepts this way.) Every chapter ends with a concluding summary/overview-review of key points and why they matter and a recommendation for further reading. It was refreshing to find several long passages on Marxist economics--with the usual rebuttals, but at least with the acknowledgement that Marxist economics -does- "offer some very useful insights into capitalism" despite its limitations. The first section, laying down the basics of various theories, then makes way for Part II--real world applications. He does not shy away from the global inequality of resources and of income, and it is dramatic to see a chart of some nation's people earning $300 a year--or less. Production of resources, distribution of resources, the role of governments and of economic institutions (both national, like the we think of the U.S. stock exchange, and global institutions, like how our stock exchange is tied in with other nations in a 21st century global economy.)
It's clearly written, but not dumbed-down. Impossible not to learn something from this book--even if, as Professor Chang says, you only read parts of it and get out of it what most interests you.
15 of 16 people found the following review helpful.
Different Perspective
By Hanna.w.
I've taken several economics courses at university level. They try very hard to push the subject as a science with equations and loads of charts and graphs to explain economic phenomena as if there were some correct formula to explain it all. The courses at university teach mostly from the classical or neo-classical school of thought. There was hardly ever acknowledgement of other schools' views or any attempt to argue whether some theories were correct. This book does a good job of making clear one school's way is not correct for everyone nor applicable at all times. The author makes arguments against some ways of thinking that are taken for granted as correct. For example, your university course is likely to teach you that protectionism inhibits economic growth. The author argues it often serves to make an economy stronger. There are introductions to many different economic schools of thought - Austrian, Behavioralist, Classical, Developmentalist, Institutionalist, Keynesian, Marxist, Neoclassical, Schumpeterian. If you know a student of economics, this book would be a good book to give them. It encourages broadening the mind to alternative explanations and solutions to economic issues.
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