SPIN-FREE ECONOMICS [Hardcover]

Nariman Behravesh (Author)

Book Description

Publication Date: October 21, 2008

With technology and globalization advancing at breakneck speed, the world economy becomes more complex by the day. Activists, politicians, and media enablers—conservative and liberal, left and right, informed and just plain wrong—consistently seize this opportunity to present woefully simplistic explanations and hype the latest myths regarding issues affecting the economy. Their purpose is not to educate but to advocate and, in many cases involving the media, manufacture outrage to drive ratings higher. So, where can you find the truth about today’s economy and how it affects you? Turn off the TV, put down the magazine, log off the Internet—and read this book.

Spin-Free Economics places the current economic debates where they belong: in the middle of the road. With no political ax to grind, Nariman Behravesh takes a centrist approach to explain how today’s economic issues affect individuals and businesses. Along the way, he debunks myths regarding the effects of immigration, unemployment, regulation, productivity, education, health care, and other headline issues. Spin-Free Economics answers today’s most pressing questions, including

• Will more regulation prevent financial crises?
• Are outsourcing and foreign ownership good or bad for Americans?
• Should we fear or embrace Asia’s emerging economic powers?
• Is aid or trade the solution to global poverty?

The vast majority of economists, Behravesh points out, are independent analysts who are in agreement on many of today’s issues. Unfortunately, the subject has been taken over by opportunists, whose answers to the questions above invariably fall along partisan lines. Spin-Free Economics is a breath of fresh air for those seeking an alternative to the chatter of ideologues and cynics. Rejecting the manipulative approach of “sound-bite economics,” Nariman Behravesh uses facts and insight tempered by clearheaded reason to present the most accurate assessment of the subject to date.

Editorial Reviews

About the Author

Nariman Behravesh is Chief Economist for Global Insight, an economic and financial analysis firm. He previously served as Chief International Economist at Standard & Poor's.

Product Details

• Hardcover: 384 pages
• Publisher: McGraw-Hill; 1 edition (October 21, 2008)
• Language: English
• ISBN-10: 007154903X
• ISBN-13: 978-0071549035
• Product Dimensions: 6.4 x 1.2 x 9 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars  See all reviews (21 customer reviews)
• Amazon Best Sellers Rank: #247,204 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

53 of 61 people found the following review helpful

5.0 out of 5 stars Wonderful introduction to economic policy November 12, 2008

By Tyler Cowen

Format:Hardcover

I was shocked by how much I liked this book. I think of it as a kind of contemporary *Capitalism and Freedom* (Milton Friedman), although it comes across as less partisan and the coverage is much more global. I agreed with almost everything the author said and I thought the framing was effective and spot on just about all the time.

Many economists may already know too much to be the appropriate audience here (but many still need this book), but if you wish to give someone an economics book as a gift, or as an introduction to thinking about economic policy, here you go. I'm still astonished at how remarkably good this book is and yes I did read it all the way through. Greg Mankiw wrote a very nice blurb for it.

Tyler Cowen

5 of 6 people found the following review helpful

5.0 out of 5 stars Illuminating and truly "spin-free" February 21, 2009

By Y. Sageev

Format:Hardcover

Like many readers, I have had trouble understanding the many policy nuances associated with the current economic crisis. Glancing at the book, I doubted whether it could really be "spin-free". We hear so much partisan rhetoric on the mainstream news channels masquerading as objective. I noted, however, that the book was recommended by the both the non-partisan Congressional Budget Office and by Harvard economist N. Gregory Mankiw. So I picked up a copy.

I'm pleased to say that "Spin-Free Economics" is an excellent, eye-opening primer on a wide variety of economic front-burner issues. It is clearly written and conveys information rapidly. It is, indeed, as free of spin as one could hope for. Idealogues on the Right and the Left will find some conclusions irritating. For example, Behravesh shows that there is little correlation between illegal immigration and job loss, and that while health care for illegals approaches $9B annually, we spend $12B combating it. He recommends a simplified guest worker program to accommodate seasonal labor demand. At the same time, he shows that income taxes penalize positive behavior, and if taxation is necessary, so-called "sin taxes" (consumption taxes) are preferable to income tax. Similarly, the author shows that the Earned Income Tax Credit has been far more beneficial to poor families than welfare transfer payments. Behravesh explains why Europe exhibits far slower growth and much higher unemployment than the US. Other topics include Deregulation, which can be very effective if implemented intelligently, or disastrous if implemented poorly. He shows how technology fuels job creation rather than unemployment. He recommends, on many occasions, that policies designed to alleviate the pain of displaced workers should "protect workers, not jobs". Similarly, the author shows that Globalization has helped alleviate poverty in emerging markets, and that direct aid to developing countries has been very unsuccessful, even at times harmful.

Most importantly, Behravesh addresses the common misperception that "for every economist, there is an equal and opposite economist". He punctures that myth by examining a survey of 1000 top economists on a host of economic issues. It shows that economists do largely agree on many points. The reason we have perceive that economists have no consensus is because the media often pits a competent, mainstream economist against a fringe economist in order to create drama and "balance". This has the deleterious effect of convincing the public that economic conclusions are unattainable. Far from it.

These are just a small sampling of the topics addressed in the book. Throughout, the author uses charts, diagrams, and case studies to analyze problems and promote sensible policies that can solve them.

5 of 6 people found the following review helpful

5.0 out of 5 stars Takes away the politics as it considers how modern economics affects everyone February 14, 2009

By Midwest Book Review

Format:Hardcover

The world economy is becoming increasingly more complicated and SPIN-FREE ECONOMICS: A NO-NONSENSE, NONPARTISAN GUIDE TO TODAY'S GLOBAL ECONOMIC DEBATES takes away the politics as it considers how modern economics affects everyone. From effects of immigration and unemployment to considering regulation in the face of economic crisis and policies that influence and possibly harm world markets, SPIN-FREE ECONOMICS is outstanding reading both for general-interest audiences interested in global economics and for college-level business students debating the economic impact of globalization processes.