The Little Book of Economics: How the Economy Works in the Real World

by Greg Ip; Foreword by: Mohamed El-Erian (CEO of PIMCO)

• ISBN13: 9780470929407
• ISBN10: 0470929405
• Format: eBook
• Copyright: 2010-08-01
• Publisher: Wiley

Summary

One positive side-effect of the recent financial market meltdown that toppled giant, century-old institutions and cost millions their jobs is that it created a strong desire among many Americans to better understand how the U.S. economy functions. In The Little Book of Economics, Greg, Ip, one of the country's most recognized and respected economics journalists, walks readers through how the economy really works.Written for the inquisitive layman who doesn't want to plow through academic jargon and Greek letters or pore over charts and tables, The Little Book of Economics offers indispensible insight into how the American economy works - or, doesn't. With engaging and accessible prose, the book Provides a comprehensive understanding of each aspect of our economy from inflation and unemployment to international trade and finance Serves as an insider's guide to the people and institutions that control America's economy such as the Federal Reserve and the federal budget Explains the roots of America's current economic crisis and the risks the country faces in its aftermath, such as stratospheric government debt, while offering advice on overcoming these threats Walks readers through the basic concepts and terminology they need to understand economic news Punctures myths and political spin from both the left and the right with candid and often surprising insightA must read for anyone who wants a better grasp of the economy without taking a course in economics , The Little Book of Economics is a unique and engaging look at how the economy works in all its wonderful and treacherous ways.

Table of Contents

Foreword

Introduction

The Secrets of Success

How People, Capital, and Ideas Make Countries Rich

Economic Bungee Jumping

Business Cycles, Recessions, and Depressions . . . Oh My!

In-Flight Monitor

Tracking and Forecasting the Business Cycle from Takeoff to Landing

Labor Pains

Employment, Unemployment, and Wages

Fire and Ice

Warning: Inflation and Deflation Are Toxic to Your Economic Health

Drop the Puck!

The Globalization Game Is Here Whether We're Ready or Not

All the World's an ATM

Knitting Global Markets Together

All the President's Men

They Don't Control the Economy But They Sure Do Try

The Buck Starts Here

The Federal Reserve's Amazing Power to Print and Destroy Money

White Smoke over the Washington Mall

The Making of Monetary Policy and the Fine Art of Fed Watching

When the World Needs a Fireman

America's Lender of Last Resort and the World's Crisis Manager

The Elephant in the Economy

What the Government Giveth and Taketh Away

Good Debt, Bad Debt

How Government Borrowing Can Save or Destroy an Economy

Love-Hate Relationship

The Bipolar Financial System-Essential for Economic Growth But Sometimes It Goes Nuts

A Species of Neuralgia

The Multiple, Recurring Causes of Financial Crises

Acknowledgments

About the Author

Index

Table of Contents provided by Publisher. All Rights Reserved.