Top critical review
There are very good essays, as very bad ones
on December 1, 2017
It is a book that should be read to complement and with caution, not to be taken as a text book. There are very good essays, as very bad ones. The book distils an over-the-top market fundamentalism. At the same time it ignores the most correct theories about markets. When the author discusses inflation and interest rates it does not mention Mises (Austrian School) at all. The simplifications make a caricature of economic theory, which may indoctrinate the reader. It ignores the role of the policy maker, the role of government and society in building solid institutions that ensure proper market operation. It mockers and treats with utter disdain features such as the right of literacy and school initiatives to teach about the relevance of environment preservation. It is a good book if the reader is already relatively informed, because it is important to get to know other opinions and find common ground. But for a first contact with economics it could be damaging. The way the writer makes his point on species extinction is repulsive. The book attempts to make economics simples, but it makes it short sighted to say the least. Market fundamentalism is a fanatical religion that resist facts such as the entrepreneurial participation of the United States government seeding technologies like the internet, airspace; it overlooks South Korea development, and China's. Should the U.S. government slashes tuition financing, all those market fundamentalists would be forced to live closer to reality and write something about it. If really free markets come into existence one day, they would close economics departments across the country, laying off free market fundamentalists. Now that would be "efficiency".