Foreword.
Introduction.
Chapter One The Secrets of Success.
How People, Capital, and Ideas Make Countries Rich.
Chapter Two Economic Bungee Jumping.
Business Cycles, Recessions, and Depressions . . . Oh My!
Chapter Three In-Flight Monitor.
Tracking and Forecasting the Business Cycle from Takeoff to Landing.
Chapter Four Labor Pains.
Employment, Unemployment, and Wages.
Chapter Five Fire and Ice.
Warning: Inflation and Deflation Are Toxic to Your Economic Health.
Chapter Six Drop the Puck!
The Globalization Game Is Here Whether We're Ready or Not.
Chapter Seven All the World's an ATM.
Knitting Global Markets Together.
Chapter Eight All the President's Men.
They Don't Control the Economy But They Sure Do Try.
Chapter Nine The Buck Starts Here.
The Federal Reserve's Amazing Power to Print and Destroy Money.
Chapter Ten White Smoke over the Washington Mall.
The Making of Monetary Policy and the Fine Art of Fed Watching.
Chapter Eleven When the World Needs a Fireman.
America's Lender of Last Resort and the World's Crisis Manager.
Chapter Twelve The Elephant in the Economy.
What the Government Giveth and Taketh Away.
Chapter Thirteen Good Debt, Bad Debt.
How Government Borrowing Can Save or Destroy an Economy.
Chapter Fourteen Love-Hate Relationship.
The Bipolar Financial System—Essential for Economic Growth But Sometimes It Goes Nuts.
Chapter Fifteen A Species of Neuralgia.
The Multiple, Recurring Causes of Financial Crises.
Acknowledgments.
About the Author.
Index.
Greg Ip is the U.S. Economics Editor for the Economist magazine, based in Washington, D.C. His career spans two decades of financial and economic journalism, including eleven years at the Wall Street Journal in New York and Washington. Before that, he wrote for the Financial Post and the Globe and Mail in Canada. He appears frequently on television and radio, including National Public Radio., PBS, CNN, CNBC, and MSNBC. He has won or shared in several prizes for reporting, and was part of the Wall Street Journal team that received the Pulitzer Prize in 2003 for breaking news reporting. Greg graduated from Carleton University in Ottawa, Canada, with a degree in economics and journalism. He lives in Bethesda, Maryland.
"A guide to understanding 'the dismal science' and how economic
concepts and institutions affect our daily lives" (The Economist,
December 2010) "...a must read in economic literacy." (USA Today,
November 29, 2010) "Finally, an economics book that is neither dull
nor inscrutable and that won't put you to sleep. Greg Ip gives us a
lucid and entertaining understanding of 'the dismal science' and
reveals how economic concepts and institutions affect our daily
lives. This little gem can turn all of us into sophisticated and
educated citizens."
—Burton G. Malkiel, Professor of Economics, Princeton University;
author of A Random Walk Down Wall Street and The Elements of
Investing "Greg Ip is one of the world's best economic journalists.
The Little Book of Economics will teach you much more than a little
about the forces that shape all of our lives."
—N. Gregory Mankiw, Professor of Economics, Harvard University;
author of Principles of Economics "Here's the perfect way to
understand the economy without breaking a sweat. Clearly written
and easy to understand, The Little Book of Economics guides you
through what you need to know. Ip's bright light illuminates places
previously darkened by insider jargon and arcane formulae."
—Robert B. Reich, Professor of Public Policy, University of
California, Berkeley; former U.S. Secretary of Labor "The book is
an excellent introduction to basic economic concepts and ideas
explained in clear and thoughtful ways. A must read in economic
literacy." "
—Nouriel Roubini, Professor of Economics, New York University;
Co-founder and Chairman of Roubini Global Economics "Greg Ip has
the rare talent of making even the toughest topics easy to
understand. In The Little of Book of Economics, he tells you what
you need to know with superb clarity and memorable examples. I
recommend this book to anyone who wants a clear explanation of how
the forces of economics shape the world."
—Michael J. Mauboussin, Chief Investment Strategist, Legg Mason
Capital Management; Author of Think Twice
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