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Customer Review

on March 20, 2012
This book oversimplifies concepts like public goods and social welfare, generally describing liberal policies, like progressive tax systems, as positive. It speaks glowingly of Barack Obama, and very optimistically about his health care plan. The book completely ignores the most popular economic theories of our time, like those of Thomas Sowell.

Unfortunately, this book was likely bred out of a liberal arts institution that has a real disconnect from the real economic world. It pays no attention to history and focuses on the fads of pop theory.

It does discuss some micro concepts in easy-to-understand language, setting up situations that are common to the college student. For instance, it addresses the concept of externalities within the context of an example in which a student is making too much noise inside the dorm. Examples of college life are rife in the book, from popular video game references to bands like Radiohead.

While it does a great job of making the college student reader feel at home, it does a poor job of, and often even neglects, stating rather basic and universal macro concepts. In fact, even the micro section fails to address some rather basic oligopoly models.

A strong liberal political focus is evidenced in the section bridging the micro and the macro, pertaining to the role of government in providing welfare. It always speaks ill of a free market system, and hints rather strongly that wealthier people should pay more.

If you intend on being in business to become wealthy, or if you have any respect for those who have earned great wealth, this book is clearly not for you.

It is used in at least one economics class at Boston College, though it is supplemented rather heavily by other classroom materials to atone for the book's technical and social deficiencies.

But if you're a liberal, you're sure to enjoy the underhanded assaults on capitalism and the free market, from Chapter 1. It's possible that Barack Obama's team may have written this book.
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