As the story goes, ask two economists or five what the future will bring and what is going on and you get as many answers. Finally, there is a clear, well-written book that is concise and up-to-date giving us some insight as to why this situation exists. More importantly, the book explains the basics of economics in a readable manner, discusses the booms and busts of the past 20 years and, in particular, the most recent downturn. The author discusses how economic concepts and institutions affect our lives. There are few charts and graphs, just logically written explanations infused with story examples and some humor. So, what is the book?
The Little Book of Economics: How the Economy Works in the Real World written by Greg Ip, an educated economist and journalist. He is the U.S. editor for The Economists and has written for the Wall Street Journal and the New York Times. This 250-page book is available at bookstores, through Amazon and can be downloaded to your Kindle or iPad.
As one reviewer said, “Finally, an economics book that is neither dull nor inscrutable and won’t put you to sleep. This little gem can turn all of us into sophisticated and educated citizens”. I agree.
Opinions are those of the author and not necessarily those of Raymond James. This is not meant as an endorsement of the listed material by Raymond James.