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The Truth about Economics: A critical thinking guide for Students, Parents, Teachers and Citizens Paperback – December 2, 2017
Purchase options and add-ons
- Print length238 pages
- LanguageEnglish
- Publication dateDecember 2, 2017
- Dimensions6 x 0.54 x 9 inches
- ISBN-101619848333
- ISBN-13978-1619848337
Editorial Reviews
Review
About the Author
Product details
- Publisher : Gatekeeper Press (December 2, 2017)
- Language : English
- Paperback : 238 pages
- ISBN-10 : 1619848333
- ISBN-13 : 978-1619848337
- Item Weight : 11.4 ounces
- Dimensions : 6 x 0.54 x 9 inches
- Best Sellers Rank: #10,172,759 in Books (See Top 100 in Books)
- #7,009 in Sociology of Class
- #10,626 in Education Reform & Policy
- #36,029 in Communication & Media Studies
- Customer Reviews:
About the author

Michael Ryan is a former high-tech executive with over twenty years experience guiding major corporations through the technology changes that have transformed American business. His engineering foundation from Texas A&M, coupled with his financial expertise from UC Berkeley, provided the perfect fit for navigating the new environments.
His success allowed him to retire early and pursue avenues that gave back to his community most importantly through teaching. His obsession with details and his communication skills were equally successful in the classroom. They prepared him perfectly to write this book about education. His analytical approach uncovers a fascinating story about economic theories, their weaknesses, and how the theories persisted, even though there was ample evidence they should be discarded. His hope is to change our educational curriculum to better serve our children by teaching them personal finance instead of weak economic theories that are of no value in the workplace.
His former employer and CEO at Charles Schwab, provided the following endorsement:
"Michael Ryan’s conclusion is 100% correct. America is in desperate need of more financial education and literacy. Economics is theory and of interest to a few, while financial literacy is of practical importance to everyone, every day." Charles Schwab, CEO Charles Schwab Corporation
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To be fair, there are real criticisms that could be made of economics. The viability of the Phillips curve has been recently thrown into question for example. But the criticisms Mr. Ryan makes are not reasonable as they misconstrue and misrepresent basic economic theory. He attacks straw men that do not represent the theories he is claiming to disprove.
Note: I did not buy this book, I read the chapters Mr. Ryan posted to the AP economics forum and the chapters he posted on his website.
1. Economic theory, as taught in an Econ 101 class, explains imaginary conditions that are not found in the real world.
2. Our state education systems fail our children every day by not teaching them relevant and practical skills required for financial prosperity, i.e. a curriculum referred to as Financial Literacy.
The book is excellent reading for anyone thinking about going into economics or who thinks that economics has much to do with financial literacy and financial educations. It does not.
Many of us have had years of economics with no improvement in critical thinking or financial skills, but we did make Samuelson rich.
Read this book and then focus on financial education for critical thinking and useful life skills.
