Economics Explained: Everything You Need to Know About How the Economy Works and Where It's Going

Features

• Cover Type: Paperback with 240 pages
• Published by: Touchstone
• Edition: Revised Edition May 5, 1998
• Written in: English
• ISBN 10 Number: 0684846411
• ISBN 13 Number: 978-0684846415
• Book Dimensions: 8.3 x 5.4 x 0.7 inches
• Weighs: 8 ounces

From Booklist
Heilbroner and Thurow are two of today's better-known economists, their commentary more likely to appear in the New Yorker or Newsweek than as a piece in the American Economic Review. This is the substantially revised and updated third edition of their primer on economics. Well written and readable, it successfully targets those with little or no background in the subject, clearly explaining concepts such as the GNP, deficit spending, and price systems. It also provides an overview of the history of economic thought by contrasting the theories of Adam Smith, Karl Marx, and John Maynard Keynes. While economic theories are often likely to be colored by political or moral values, the authors readily identify opinions or statements that may be controversial. David Rouse --This text refers to an out of print or unavailable edition of this title.

Product Review
The Boston GlobeAn great course in the history of capitalism and socialism, of growth, progress, and decline.

Ms.At last, a patient but not condescending, detailed but not recondite, conversational but not glib discussion of the factors and terms that any reader of the daily newspaper requirements to understand.

Robert B. Reich, former Secretary of Labor and author of Locked in the CabinetIn this delightfully written primer, Heilbroner and Thurow sweep away the debris of economic theory to expose the political and social choices lying just below it.

Reader Reviews
This is a book written for a layperson about the field of economics, the thinking of economists, and what is going on in some of the major current economic debates. There is no math (which may or may not be a good thing) and the few graphs are of the basic supply and demand curves which are simple to understand at this level, and which you can't really pass up when learning economics. Heilbroner and Thurow discuss the major economic concepts like GNP, inflation, the role of government, monopolies, etc. and they do a good job describing them and explaining how things work. There is a liberal bias. The authors are not blind to this, and they do try to exhibit different viewpoints, and they try to point out when they are stating their own stance. If you want an unbiased view of economics, you will probably have a difficult time finding that one book that meets your standards-if anything, it will be the book that most closely agrees with your own biases. If you want an unbiased view, read many books, read textbooks, read news from several sources, and then come to your own conclusions. I don't think the biases in this book really disturb the education you can receive from this book. Just be aware that they exist. If you didn't find this book exciting, like the 15 year old reviewer, it may be because you were not part of the intended audience. Heilbroner and Thurow wrote this book for those who "want to understand the nature of the economic forces that are upsetting their lives." In the modern world, people need to know some economics in order to be in full control of their lives. If you read nothing else but this, you will at least be able to read business and financial news with greater understanding and perhaps participate in economic discussions.