Recommend a book for dummies.

[Missourian]

If you could only recommend one book to help a lay person understand the basics of the U.S. economy, what would it be?

 

[JWBooth]

[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]

 

[Trajan]

Basic Economics: A Common Sense Guide to the Economy by Thomas Sowell

 

[ShackledNation]

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.

 

[Wry Catcher]

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"

 

[ShackledNation]

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"

Great quote. In Economics in One Lesson, Hazlitt actually references that quote.

 

[editec]

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.

 

[California Girl]

Anyone who thinks one book is enough to understand a subject like economics isn't smart enough to understand economics. True story.

 

[Missourian]

Anyone who thinks one book is enough to understand a subject like economics isn't smart enough to understand economics. True story.

Ya gotta start somewhere, CG.

 

[editec]

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.

 

[Brutus]

Anyone who thinks one book is enough to understand a subject like economics isn't smart enough to understand economics. True story.

I disagree. A 200 page book can contain a ton of information and wisdom. I'd say if someone can understand Capitalism- The unknown ideal, or Hazlett or Free to Choose they understand economics.

what I see is liberals reading those book, on occasion anyway, and simply lacking the conceptual IQ to understand them. The other liberals know in their hearts they lack the IQ for it so don't bother even reading those books.

Accordingly you will never hear a liberal saying anything educated about economics. If I'm wrong let a liberal say something educated about economics to prove it..