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The Little Book of Economics: How the Economy Works in the Real World Audiobook
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(3.08) - 200 listener ratings
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Publisher Description
After the global financial panic and recession of 2007–2009, you don’t have to be president or a hedge fund manager to know that “It’s the economy, stupid.” Yet while the economy dominates the headlines, how it works and who influences it remain a mystery to most people. In The Little Book of Economics, Greg Ip, an award-winning journalist renowned for making complex economics easy to understand, walks you through how the economy really works. You’ll learn: • How psychology and the Federal Reserve drive business cycles • How a financial crisis can transform a recession into a depression • The surprising effects of fertility rates, lawyers, and ideas on economic growth • Whether the United States faces a lost decade like Japan did in the 1990s • The causes of inflation, how it destabilizes society, and why deflation is even worse • How government debt can sometimes help end a recession but, other times, bring on disaster—and how to tell the difference • The symptoms of financial crises and why they often occur in election years • What goes on inside the Federal Reserve, what it does when interest rates are zero, and why its power to print money has made it the world’s financial fireman You can’t understand the American economy without recognizing the growing influence of the rest of the world. So The Little Book of Economics digs into globalization, how it made America’s mortgage crisis possible, how it’s exploited by China to spur growth, and how it makes the United States richer even as it widens the gap between winners and losers. One side effect of the deepest economic downturn since the Great Depression is that it has ignited a fresh desire among citizens and investors to better understand the economy. The Little Book of Economics is an accessible, engaging, and entertaining guide to all of the wonderful and wicked ways in which the economy functions and what it all means to you.
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"Very good summary about the economic ecosystem. Greg Ip uses clear language to describe, and also brings in tons of very recent examples and references. He has well-founded expert advice on many fiscal matters without following populist opinions, and always points out the trade-offs."
— Felix (4 out of 5 stars)
Quotes
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“Finally, an economics book that is neither dull nor inscrutable and that won't put you to sleep.”
— Burton G. Malkiel, Professor of Economics, Princeton University; author of A Random Walk Down Wall Street and The Elements of Investing -
“The Little Book of Economics will teach you much more than a little about the forces that shape all of our lives.”
— N. Gregory Mankiw, Professor of Economics, Harvard University; author of Principles of Economics -
“A guide to understanding 'the dismal science' and how economic concepts and institutions affect our daily lives.”
— The Economist -
“Here's the perfect way to understand the economy without breaking a sweat. Clearly written and easy to understand, The Little Book of Economics guides you through what you need to know.”
— Robert B. Reich, Professor of Public Policy, University of California, Berkeley; former U.S. Secretary of Labor
The Little Book of Economics Listener Reviews
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" I listened to this, and it was a quick, easy read with some interesting examples. Funny how his mother, an economist, had their allowance pegged to inflation! I'd read another book by this author. "
— Elisabeth, 2/18/2014 -
" Dull, dull, dull and I got an A in each of the three econ classes I took as an undergraduate. "
— Jessica, 1/21/2014 -
" Good overview of economics and finance sprinkled in with examples of current events. "
— Jon, 1/20/2014 -
" It was a pretty good introduction to economics, but some of the author's biases detracted from the book. At some point,I will read a different book that provides the basics of economics. "
— Monique, 12/24/2013 -
" A book that tries to explain the complex and dismal science of economics in plain simple English. It succeeds in parts, but in certain areas it fails to do justice because the subject itself is complex. One thing I noticed was that wherever the author says 'we' in this book, it refers to US citizens. It seems like the author never thought that someone outside US might also read this book. "
— Dev, 12/23/2013 -
" Everyone should read this book. Simple and straight forward reminders of an important aspect of life that affects everyone. "
— Joseph, 12/22/2013 -
" It is a solid overview of economics, but by being a "little book" it tends to be more broad then deep. I found I knew a lot of what was being said already, which made it harder to pay attention to the new stuff. That said, certainly a well-executed overview. "
— Andrew, 12/20/2013 -
" I wish the book was written in a little more lucid manner. I must re-read this book in the near future to understand it better. A must read topic for all living human beings... Greg Ip does a fairly good job for readers without economics as a background. "
— Viraj, 12/19/2013 -
" Great Introductory book on Macro-economics. Must read for everyone who reads/watches news & wonders what is happening & why. "
— Ananth, 11/19/2013 -
" Excellent attempt to explain economics to the stumped among us. I just need software downloaded to my brain. It doesn't help that learned economists can't even agree on their own theories. So how's a cretin like me supposed to understand it? But Greg Ip gives it a mighty try. "
— Mnmom, 10/21/2013 -
" A great primer on modern economic theory in practice, explaining matters of capital, labor, monetary policy, economic policy, and other matters, well illustrating the major economic events over the past few generations. "
— Ethan, 4/29/2013 -
" "It's the economy, stupid!" Well, not so stupid anymore! Love to read books written by journalists: complex concepts are served as for a fifth grader. "
— Damira, 11/25/2012 -
" This book had a lot of information on the methodology and inner workings of economics. Fantastic read. "
— Nicolae81, 11/19/2012 -
" Another great read on economics, Greg has a refreshing perspective on the subject. The undelying foundation of an economy is described in detail, the nature of booms and busts, monetary policy and its impact on the economy and more. A must read! "
— John, 7/18/2012 -
" Very nice plain English introduction. The latter part is a bit out of my depth though. "
— Dgg32, 11/29/2011 -
" A succinct updated little book on us economics and various financial regulations and institutions involved- it is easy to understand with daily words and vivid metaphors. Good for layman who wants to explore this field. "
— Yang, 4/23/2011 -
" Ip is a genius in his ability to explain complex concepts. "
— John, 4/21/2011 -
" Interesting, concise, pretty good read. About as interesting as a book on the basics of economics could be. "
— Steve, 4/12/2011 -
" quick read. Great book for people who know little about economics. A bit advanced for the teabaggers. "
— Dan, 3/15/2011 -
" Some of the material is difficult if you have never taken an economics or finance course. "
— Jonathan, 1/26/2011 -
" This book should be assigned 1.5 stars. I don't like most of it probably because I've studied economics quite extensively, the book simply repeats what I've already known. However, at the very end, it slightly picks up. To say I didn't like it is harsh, to say it was ok is generous. "
— Quan, 11/30/2010
About Greg Ip
Greg Ip is an award-winning journalist and the Wall Street Journal’s Chief Economics Commentator. He’s spent two decades in financial and economic journalism, including eleven years at the Wall Street Journal and six years at the Economist. He appears frequently on television and radio, including National Public Radio, PBS, MSNBC, and CNBC. He lives in Bethesda, Maryland.
About Lloyd James
Lloyd James (a.k.a. Sean Pratt) has been a working professional actor in theater, film, television, and voice-overs for more than thirty years. He has narrated over one thousand audiobooks and won numerous Earphones Awards and nominations for the Audie Award and the Voice Arts Award. He holds a BFA degree in acting from Santa Fe University, New Mexico.