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Seeks to provide an engaging and comprehensive primer to economics that explains key concepts without technical jargon and using common-sense examples.
What is the score card for economics at the start of the new millennium? While there are many different schools of economic thought, it is the neo-classical school, with its alleged understanding and simplistic advocacy of the market, that has become equated in the public mind with economics. This book shows that virtually every aspect of conventional neo-classical economics' thinking is intellectually unsound. Steve Keen draws on an impressive array of advanced critical thinking. He constitutes a profound critique of the principle concepts, theories, and methodologies of the mainstream discipline. Keen raises grave doubts about economics' pretensions to established scientific status and its reliability as a guide to understanding the real world of economic life and its policy-making.
A New York Times bestseller "Brilliant, funny…the best math teacher you never had." —San Francisco Chronicle Once considered tedious, the field of statistics is rapidly evolving into a discipline Hal Varian, chief economist at Google, has actually called "sexy." From batting averages and political polls to game shows and medical research, the real-world application of statistics continues to grow by leaps and bounds. How can we catch schools that cheat on standardized tests? How does Netflix know which movies you’ll like? What is causing the rising incidence of autism? As best-selling author Charles Wheelan shows us in Naked Statistics, the right data and a few well-chosen statistical tools can help us answer these questions and more. For those who slept through Stats 101, this book is a lifesaver. Wheelan strips away the arcane and technical details and focuses on the underlying intuition that drives statistical analysis. He clarifies key concepts such as inference, correlation, and regression analysis, reveals how biased or careless parties can manipulate or misrepresent data, and shows us how brilliant and creative researchers are exploiting the valuable data from natural experiments to tackle thorny questions. And in Wheelan’s trademark style, there’s not a dull page in sight. You’ll encounter clever Schlitz Beer marketers leveraging basic probability, an International Sausage Festival illuminating the tenets of the central limit theorem, and a head-scratching choice from the famous game show Let’s Make a Deal—and you’ll come away with insights each time. With the wit, accessibility, and sheer fun that turned Naked Economics into a bestseller, Wheelan defies the odds yet again by bringing another essential, formerly unglamorous discipline to life.
Charles Wheelan’s wonderfully whimsical, best-selling Naked series tackles the weird, surprisingly colorful world of money and banking. Consider the $20 bill. It has no more value, as a simple slip of paper, than Monopoly money. Yet even children recognize that tearing one into small pieces is an act of inconceivable stupidity. What makes a $20 bill actually worth twenty dollars? In the third volume of his best-selling Naked series, Charles Wheelan uses this seemingly simple question to open the door to the surprisingly colorful world of money and banking. The search for an answer triggers countless other questions along the way: Why does paper money (“fiat currency” if you want to be fancy) even exist? And why do some nations, like Zimbabwe in the 1990s, print so much of it that it becomes more valuable as toilet paper than as currency? How do central banks use the power of money creation to stop financial crises? Why does most of Europe share a common currency, and why has that arrangement caused so much trouble? And will payment apps, bitcoin, or other new technologies render all of this moot? In Naked Money, Wheelan tackles all of the above and more, showing us how our banking and monetary systems should work in ideal situations and revealing the havoc and suffering caused in real situations by inflation, deflation, illiquidity, and other monetary effects. Throughout, Wheelan’s uniquely bright-eyed, whimsical style brings levity and clarity to a subject often devoid of both. With illuminating stories from Argentina, Zimbabwe, North Korea, America, China, and elsewhere around the globe, Wheelan demystifies the curious world behind the paper in our wallets and the digits in our bank accounts.
An entertaining and widely-praised introduction to great economic thinkers throughout history, now in its fourth edition, with updates and commentary on the 2020 “great cessation,” Trump and Obama economic policies, the dominance of Amazon, and many other timely topics. Through the teachings of Adam Smith, Thomas Malthus, Karl Marx, John Maynard Keynes, Milton Friedman and more, renowned economist Todd Buchholz shows how age-old ideas still apply to our modern world. In this revised edition, Buchholz offers fascinating insights on the most relevant issues of 2021: climate change, free trade debates, the refugee crisis, growth and conflict in Russia and China, game theory, and behavioral economics. New Ideas from Dead Economists—found on the desks of university students, prime ministers, and Wall Street titans—is a riveting guide to understanding both the evolution of economic theory and our complex contemporary economy.
NATIONAL BESTSELLER • The remarkable memoir of an ambitious young photojournalist who went off to war as a twenty-two-year-old girl—and came back, four years and many adventures later, a woman “Eloquent and well observed, not only about the memoirist, but about the world: war, death, photojournalism and, of course, the worldwide battle between the sexes.” —The Washington Post Book World In 1988, fresh out of Harvard, Deborah Copaken Kogan moved to Paris with a small backpack, a couple of cameras, the hubris of a superhero, and a strong thirst for danger. She wanted to see what a war would look like when seen from up close. Naïvely, she figured it would be easy to filter death through the prism of her wide-angle lens. She was dead wrong. Within weeks of arriving in Paris, after begging to be sent where the action was, Kogan found herself on the back of a truck in Afghanistan, her tiny frame veiled from head to toe, the only woman—and the only journalist—in a convoy of rebel freedom fighters. Kogan had not actually planned on shooting the Afghan war alone. However, the beguiling French photographer she’d entrusted with both her itinerary and her heart turned out to be as dangerously unpredictable as, well, a war. Kogan found herself running from one corner of the globe to another, each linked to the man she was involved with at the time. From Zimbabwe to Romania, from Russia to Haiti, Kogan takes her readers on a heartbreaking yet surprisingly hilarious journey through a mine-strewn decade, her personal battles against sexism, battery, and even rape blending seamlessly with the historical struggles of war, revolution, and unfathomable abuse it was her job to record. In the end, what was once adventurous to the girl began to weigh heavily on the woman. Though she had finally been accepted into photojournalism’s macho fraternity, her photographs splashed across the front pages of international newspapers and magazines, Kogan began to feel there was something more she was after. Ultimately, what she discovered in herself was a person—a woman—for whom life, not death, is the one true adventure to be cherished above all.
This intriguing collection is designed to show how economists can play a more active role in designing and directing the nation's social institutions. By taking the task of political economy seriously, the contributors (including some of today's most distinguished economists) reveal the power of economic thought to offer innovative solutions to some of the most difficult problems facing society today. By creating markets where none existed before, the authors propose efficient, reliable, and profitable improvements to current systems of health insurance, financial markets, human organ distribution, judicial practice, bankruptcy and securities regulation, patenting, and transportation. Written in the entrepreneurial spirit, these essays show economics to be an ambitious, dynamic, and far-from-dismal science.
Political backstabbing, rank hypocrisy, and dastardly deception reign in this delightfully entertaining political satire, sure to lift one’s spirits far above the national stage. America is in trouble—at the mercy of a puzzling pathogen. That ordinarily wouldn’t lead to catastrophe, thanks to modern medicine, but there’s just one problem: the government supply of Dormigen, the silver bullet of pharmaceuticals, has been depleted just as demand begins to spike. Set in the near future, The Rationing centers around a White House struggling to quell the crisis—and control the narrative. Working together, just barely, are a savvy but preoccupied president; a Speaker more interested in jockeying for position—and a potential presidential bid—than attending to the minutiae of disease control; a patriotic majority leader unable to differentiate a virus from a bacterium; a strategist with brilliant analytical abilities but abominable people skills; and, improbably, our narrator, a low-level scientist with the National Institutes of Health who happens to be the world’s leading expert in lurking viruses. Little goes according to plan during the three weeks necessary to replenish the stocks of Dormigen. Some Americans will get the life-saving drug and others will not, and nations with their own supply soon offer aid—but for a price. China senses blood and a geopolitical victory, presenting a laundry list of demands that ranges from complete domination of the South China Sea to additional parking spaces at the UN, while India claims it can save the day for the U.S.
Refreshingly honest advice and observations on happiness, success, and the world lurking beyond the campus gates.
In 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation. In Debunking Economics, he eviscerated an intellectual church – neoclassical economics – that systematically ignores its own empirical untruths and logical fallacies, and yet is still mysteriously worshipped by its scholarly high priests. In this book, he presents his Reformation: a New Economics, which tackles serious issues that today's economic priesthood ignores, such as money, energy and ecological sustainability. It gives us hope that we can save our economies from collapse and the planet from ecological catastrophe. Performing this task with his usual panache and wit, Steve Keen’s new book is unmissable to anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes.