Naked Economics: Undressing the Dismal Science

Naked Economics: Undressing the Dismal Science

Amazing little book!

I've been teaching economics for over 10 years, and came across this little gem last night. I spent the next few hours reading it completely. The author has a remarkable ability to explain economic concepts well without dumbing down the material. He also attempts to be balanced, bringing out the pros and cons of markets, as well as the public sector and the role of the government. That said, he comes out mostly in favor of markets and argues that the role of the government is important but minimal. This point of view has been very fashionable in economics, but the recent collapse of Wall St. and the banking system will make us rethink the weaknesses of markets, and the heightened role that the public sector needs to play. Despite this bias, I would strongly recommend this book to anyone (I plan to read it to my middle/high school kids this weekend) who is remotely interested in how economists think. In fact, I am positively surprised that books like Freakonomics achieved far more success, even though this book is far more accessible for the general audience, and has much more interesting insights for the lay reader.

Great alternative to a textbook

I use this book as a primary text in a high school Economics class. I love it and so do the kids!

Great introduction to Economics

I'm a firm believer in understanding concepts and models before delving into arithmetic for rigorous proof. Both are essential for a complete understanding, however mathematical symbology (equations), exist only as shorthand to define concepts - be it gravity acting on light or GDP in relation to foreign trade. That said, Charles Wheelan does an entertaining job of exposing economics to the novice. His points are practical and spelled out clearly. If you read this book first, you'll understand why your doing the math when you get to it. I did notice a couple places that seem to have a slight liberal slant. This is just perspective of course, as I tend to be fairly conservative in my views. However, Wheelan has a balance to the points he presents and articulates them clearly using examples. I've somehow carried the idea that smaller government is always better. Wheelan has convinced me of the need for appropriately sized government. Regardless of your political or religious bent, if you're a beginner, interested in economics, Naked Economics is a great place to start. P.S. To Charles Wheelan: I'll be looking for your next book (I'm thinking something like "Economics Autopsy") that delves deeper into each of the topics in Naked Economics.

Common sense economist

Charlie describes important economic principles in plain English. For example: Creative destruction-a tremendous powerful force in the long run; Why incentives matter; Taxes as a fiscal drag; Human capital..the sum total of skills embodied within an individual: Education, intelligence, charisma, creativity, work experience, entrepreneurial vigor... What you have left if someone stripped away all your assets, job, money, home and possessions and left you on the street corner with only the clothes on your back His book is a joy to read and vital to understand in view of what we face as a nation for the next few years. Horrible mistakes have been made in the way our economy has been managed for some time by those who either did not understand the law of unintended consequences...or didn't care! Dickson C. Buxton, author Lessons in Leadership & Life, Secrets of Eleven Wise Men

Great book

This explains the principles of economics without getting you bogged down in math and graphs. If you want to understand the basics of economics with simply explained logic and examples, buy this book.

Keyword : economic