This book was fantastic and contained a number of things I didn’t know I should know!
I started this book having no real understanding of economics but hoped that it would teach me the basics and help me understand New Deal or Raw Deal?, a book I started at the same time. What an incredibly helpful and fundamental read!
The entire book carefully and meticulously lays one building block concept after another. (If you decide to read the majority of the book in one sitting, you may find the chapters a bit repetitious as they begin and end with the point of that chapter. If you’re reading with children or inconsecutively, this may be helpful.) And while each building block is laying a foundation for economic understanding, the reader is also receiving a course in applicable logic; both vital elements that consequently go hand-in-hand.
Quotes, examples and history are provided in this exceptional tool that I recommend everyone read.
This clearly written, award-winning book about economics is a remarkably easy and fun explanation of money (its origin and history), the dollar (its origin and history), investment cycles, velocity, business cycles, recessions, inflation, the demand for money, government (its economic behavior), and more. All explanations and interpretations are according to the Austrian and Monetarist schools of economic theory.
Using the epistolary style of writing (using letters to tell a story), author Richard J. Maybury plays the part of an economist (Uncle Eric) writing a series of letters to his niece or nephew (Chris). Using stories and examples (including historical events from Ancient Rome), Mr. Maybury explains economic principles, giving interesting and clear explanations of topics that are generally thought to be too difficult for anyone but experts. Mr. Maybury warns, “Beware of anyone who tells you a topic is above you or better left to experts. Many people are twice as smart as they think they are, but they’ve been intimidated into believing some topics are above them. You can understand almost anything if it is explained well.”
Whatever Happened to Penny Candy? is essential for every student, businessperson and investor.
Nothing to note.