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Customer Review
Reviewed in the United States on February 1, 2013
Most books on economics for the layperson are written with some political axe to grind. These books are universally worthless. There are a few books that simply present what economists know, and basically agree that they know. There is a lot more that economists know than might be gleaned from reading the newspaper or following political debates. Most political hacks (and anyone who says "I am a committed liberal" or "I am a committed conservative," is a political hack in my opinion, because issues general benefit from insights from both camps) simply ignore the laws of economics. There are a few informative and unbiased expositions for the layperson, which I have reviewed on my web site (under "You Must Read This!", Books on Economics for Serious Beginners. Naked Economics is probably better than any of these, simply as a balanced literate exposition.
Wheelan explains the benefits and limitations of markets, the benefits and limitations of government interventions, the basics of finance (especially, how to avoid the costly errors that about 50% of investors are prone to make, such as believing they can pick winners), and the role of international competition. There is nothing that Wheelan asserts that I think is not 100% correct, including his exposition of development economics and globalization. Highly recommended.
Wheelan explains the benefits and limitations of markets, the benefits and limitations of government interventions, the basics of finance (especially, how to avoid the costly errors that about 50% of investors are prone to make, such as believing they can pick winners), and the role of international competition. There is nothing that Wheelan asserts that I think is not 100% correct, including his exposition of development economics and globalization. Highly recommended.
