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Title: 50 Economics Ideas You Really Need to Know

Author: Edmund Conway

Narrator: Nigel Anthony

Format: Unabridged

Length: 6 hrs and 43 mins

Language: English

Release date: 12-28-17

Publisher: Hachette Audio

Ratings: 5 of 5 out of 1 votes

Genres: Business, Commerce & Economy

Publisher's Summary:

What exactly is a credit crunch? Why do footballers earn so much more than the rest of us? Which country is likely to be the world's leading economy in 10 years' time?

Daily Telegraph economics editor Edmund Conway introduces and explains the central ideas of economics in a series of 50 essays. Beginning with an exploration of the basic theories, such as Adam Smith's "invisible hand", and concluding with the latest research into the links between wealth and happiness, he sheds light on all the essential topics needed to understand booms and busts, bulls and bears, and the way the world really works.

Members Reviews:

Excellent, Clear, Simple, Well Written- Core points of economics in an easy to read overview.

If you are trying to learn about economics there are a few different approaches you can take. First, you can study the classic documents, such as "The Wealth of Nations" (Adam Smith), "The General Theory" (J M Keynes), "The Road to Serfdom" (Hayek), "the Communist Manifesto" (Marx) and a few other seminal texts to gain an understanding of how the modern economic stream of study progressed in the last 3 centuries perhaps right up to current works from Friedman and even Laffer. But that approach is arduous and frankly too technical for most people to care to enage with. The second route is to take a college series of courses, which may run through these same ideas in summary by using texts such as survey books like "The Making of Modern Economics" (Mark Skousen) or other general survey books. But this second route maybe not provide a balanced outlook of the differing perspectives, since professors and writers of individual texts are prone to present support for their own beliefs rather than give a neutral view. The last route left for those of us who aren't trained economists is to read simpler books, written for the public.

In that vein, one of the best books I've come across is simply titled "50 Economic Ideas You Really Need To Know". Author Edmund Conway has written a cogent and actually cohesive book that is less disjointed than the title might imply. Beginning with Adam Smith's "invisible hand" doctrine, exploring supply and demand, the Malthusian trap and opportunity cost, Conway guides the reader quickly and clearly through fifty (yes 50!) of the key concepts in economics. After having read several other books (from many of the 3 different approaches I mention above) on economics I found this layman's guide to not only be remarkably accurate and well written but well organized. Economics is often said to be a study of people and their uses of resources, including the decisions they make regarding those resources. Conway starts this book with a more pointed view saying -

Economics examines what drives human beings to do what they do, and looks at how they react when faced with difficulties or success.1

This turns out to be an excellent primer to understand how this book is approached and presented.