For readers taking Wheelan's breezy tour, there's no reason to fear this highly relevant subject. With the commonsensical examples and brilliantly acerbic commentary associated with "The Economist, " Wheelan brings economics to life.For readers taking Wheelan's breezy tour, there's no reason to fear this highly relevant subject. With the commonsensical examples and brilliantly acerbic commentary associated with "The Economist, " Wheelan brings economics to life.Read Less
The author takes a dull, boring subject and makes it relevant and interesting without graphs and formulas. This book should be mandatory reading for all who work in government at any level, whether elected, appointed or hired. Buy it and read it!
Publishers Weekly, 2002-06-17 Ever wonder what it means when the Fed raises interest rates? Or why there are occasional fears of inflation? To the rescue comes this simplified and chatty nontextbook textbook. Using words rather than math, it makes economics accessible, comprehensible and appealing. Wheelan, the Economist's Midwest correspondent, breezily explains the big picture, including finance, capital markets, government institutions and more. His informal style belies the sophisticated and scholarly underpinnings of his subject. Wheelan champions the often-maligned science: "Economics should not be accessible only to the experts. The ideas are too important and too interesting." Well before book's end, highly persuasive yet simply illustrated concepts sway the reader. Complex ideas are demystified and made clear, using familiar examples, such as the price of sweatshirts at the Gap. A chapter on financial markets compares a grapefruit and ice cream fad diet with get-rich-quick schemes. (He wryly offers the mantra "Save. Invest. Repeat.") Similarly, an explanation of interest rates compares them to "rental rates," an easy-to-grasp concept. And to convey what the major international institutions do, Wheelan writes: "If the World Bank is the world's welfare agency, then its sister organization, the International Monetary Fund (IMF) is the fire department responsible for dousing international financial crises." Wheelan's simplicity does not mask the detailed encapsulation of complicated issues, such as relative wealth, globalization and the importance of human capital. He smartly shows that while economic consequences can be global, they are also a part of everyday life. (Sept.) Forecast: A catchy cover illustration a naked stick figure with George Washington's dollar bill face covering his middle and the promise of finally understanding economics will attract recent college grads and uncertain older folk. Copyright 2002 Cahners Business Information.
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