Economix: How Our Economy Works

I live in the United States of America. It is an election year. The election is next month. The atmosphere is charged with political conversation and rhetoric. Some of it is based on knowledge. Some of it is based on fancy. Some of it is so obviously false that it is stunning that the speaker/writer believes that anyone will buy in to what is being said/written. On many occasions it is obvious that too many people have no understanding of economics, how an economy works, or even basic history. This book weaves all three together beautifully.

Economix: How Our Economy Works provides an up to date, well researched, well presented, and detailed look at the economy. The book presents multiple economic theories clearly and with a flair that is hard to describe but which will thrill all but the most dry-textbook-loving reader. It is a comic that is also a better textbook than most I have read, especially for people who do not already know the history of Western economic thought. Ever wonder what differentiates a free market from a controlled market? What has historically caused economies to grow or shrink? Why government spending, inflation, and interest rates matter and how each can affect an economy? This is the book to get you started.

As a bonus, you will also learn what differentiates capitalism from socialism from communism and other systems, what has influenced each, and what is driving and influencing the current worldwide and U.S. political and economic climates. Want to understand the basic ideas of the big and influential people in economic theory like Adam Smith, Karl Marx, or John Maynard Keynes or maybe the basic ideas that drive past and present Chairmen of the Federal Reserve Bank like Alan Greenspan or Ben Bernanke? This book will give you enough detail to help you understand the theoretical underpinnings of their policies and recommendations and it does so in a way that my (admittedly really smart) 10 year old can understand most of it.

If you ever mention the economy, but don’t really know with certainty what you are talking about, read this book. If you hear people being called “socialist” or “fascist” and wonder what that means, read this book. If you have heard of oligarchies and monopolies and don’t really know what they are or why they would matter, read this book. If you only read one book on the economy, read this one. Yeah, I’m recommending it that strongly. I got my copy for free, and I’m thinking of giving it away so that I can go pay for one and help support the author so that the book stays in print and finds a wider audience.

Oh, and the comic art is quite good, too, but suddenly that seems anticlimactic. Too bad, because that really isn’t fair to the artist, who is quite talented in his own right.

Disclosure: I was given my copy of this book by the publisher as a review copy.

One thought on “Economix: How Our Economy Works

  1. The reviews on the book’s website look interesting. If you’re interested here are some links to some smart economics blogs/news programs:
    Doug Henwood’s Behind the News:
    http://www.leftbusinessobserver.com/Radio.html
    Dean Baker’s Beat the Press:

    Paul Krugman’s NY Times blog:
    http://krugman.blogs.nytimes.com/
    Brad Delong’s blog:
    http://delong.typepad.com/
    John Quiggin’s blog:
    http://johnquiggin.com/
    Within academia, Economics has the reputation of being a discipline that doesn’t care much about inequality and poverty. (See for instance here: . The above links are all commentators who care a lot about inequality (which means they’re all either center-left to hard left). Henwood’s radio program and Baker’s blog are probably the best overall uses of your time.

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