Political Economist

This book aims to explain the basic things related to various economic phenomena. As its subtitle shows, the book is to explain “everything we need to know about how the economy works and where it’s going.” It has down-to-earth purposes of making economics understandable to ordinary readers.

In this book, the authors explain that the economy has a macro system that determines how much people produce and a micro system that determines who gets what share of it. In the same way, this book introduces the government as a significant player in the economy, including those much misunderstood debts and deficits it creates. At the same time, the authors explain how money comes into being and what it plays in the economy.

With these basic conceptual tools, they focus on various economic phenomena such as inflation, unemployment, technological innovation, globalization, etc. For those who are interested in how economics, as a discipline, is composed of, and those who are interested in the analysis of real economic phenomena, but not content with newspaper articles, this book will be of great use for developing deeper insight into the questions.

For further information on the U.S economy and the globalization issue, read respectively, Robert Blecker, Beyond the Twin Deficits, NY: M.E Sharp, 1992.

William Greider, One world, Ready or Not, NY: Simon & Schuster, 1997.