Recommend a book for dummies.

Discussion in 'Economy' started by Missourian, Jun 22, 2011.

  1. Missourian
    Offline

    Missourian Gold Member

    Joined:
    Aug 30, 2008
    Messages:
    16,281
    Thanks Received:
    4,799
    Trophy Points:
    280
    Location:
    Missouri
    Ratings:
    +8,124
    If you could only recommend one book to help a lay person understand the basics of the U.S. economy, what would it be?
     
  2. JWBooth
    Offline

    JWBooth Gold Member

    Joined:
    Jul 15, 2009
    Messages:
    6,799
    Thanks Received:
    1,555
    Trophy Points:
    200
    Location:
    Fredonia Republic
    Ratings:
    +1,957
    [​IMG]

    [ame]http://www.amazon.com/Economics-One-Lesson-50th-Anniversary/dp/0930073193/ref=sr_1_1?s=books&ie=UTF8&qid=1308795040&sr=1-1[/ame]
     
    • Thank You! Thank You! x 2
    Last edited: Jun 22, 2011
  3. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    Basic Economics: A Common Sense Guide to the Economy by Thomas Sowell
     
    • Thank You! Thank You! x 2
  4. ShackledNation
    Offline

    ShackledNation Libertarian

    Joined:
    Jun 16, 2011
    Messages:
    1,885
    Thanks Received:
    208
    Trophy Points:
    130
    Location:
    California
    Ratings:
    +324
    JWBooth you read my mind. That is exactly what I would reccommend.

    "Economics in One Lesson" by Henry Hazlitt will make you 10 times smarter.
     
    • Thank You! Thank You! x 1
  5. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,804
    Thanks Received:
    4,250
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,183
    The Gilded Age by Mark Twain.

    I'd sign the book on the title page with this quote from George Santayana: "He who fails to learn from history is doomed to repeat it"
     
    • Thank You! Thank You! x 1
  6. ShackledNation
    Offline

    ShackledNation Libertarian

    Joined:
    Jun 16, 2011
    Messages:
    1,885
    Thanks Received:
    208
    Trophy Points:
    130
    Location:
    California
    Ratings:
    +324
    Great quote. In Economics in One Lesson, Hazlitt actually references that quote.
     
  7. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,618
    Here, this might help.

    [ame="http://www.amazon.com/Secrets-Temple-Federal-Reserve-Country/dp/0671675567"]Amazon.com: Secrets of the Temple: How the Federal Reserve Runs the Country (9780671675561): William Greider: Books[/ame]

    Understanding the "basics" of economic theory does NOT help you understand the US economy.

    In fact, based on much of the stuff I've seen written here by people who think they understand the macro economy based on their hazy understanding of theoretical economics, I'd say understanding the "basics" of economis is apt to mislead you more than help you understand our MACRO-economy.
     
    • Thank You! Thank You! x 1
    Last edited: Jun 23, 2011
  8. California Girl
    Offline

    California Girl BANNED

    Joined:
    Oct 8, 2009
    Messages:
    50,337
    Thanks Received:
    8,960
    Trophy Points:
    0
    Ratings:
    +8,965
    Anyone who thinks one book is enough to understand a subject like economics isn't smart enough to understand economics. True story.
     
  9. Missourian
    Offline

    Missourian Gold Member

    Joined:
    Aug 30, 2008
    Messages:
    16,281
    Thanks Received:
    4,799
    Trophy Points:
    280
    Location:
    Missouri
    Ratings:
    +8,124
    Ya gotta start somewhere, CG.
     
    • Thank You! Thank You! x 1
  10. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,618
    Ya know...I started out about 50 years ago trying to understand my world via a study of history.

    It wasn't until about the late 90s that it became apparent to me that one could not understand how our world worked without also understanding how macroeconomic worked.

    And after about twenty years of reading I am just now beginning to get a sense about how pretty much everything involving history is one way or the other motivated by economics.

    If you truly want to get it, if you truly want to understand why our government does much of what it does, you have to underst6and not ECON 101 (that is relevant to you if you run a small business) but instead you must focus you attention on how the MACROCEONOMY works.

    I'm tell yas, understanding the machination of MACRO its a tough row to plough if you're attmpting to do it on your own.


    But once you start to get it, then suddenly things that never made sense in history, start to fall into place.
     

Share This Page