Economics

The Economics Book: Big Ideas Simply Explained

The Economics Book: Big Ideas Simply Explained

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  • Create Date：2022-11-12 06:55:18
  • Update Date：2025-09-06
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  • Author：Niall Kishtainy
  • ISBN：1465473912
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Summary

From Aristotle and Thomas Aquinas， to Adam Smith and John Maynard Keynes， to the top economic thought leaders of today， The Economics Book is the essential reference for students and anyone else with an interest in how economies work。 Easy-to-follow graphics， succinct quotations， and thoroughly accessible text throw light on the applications of economics， making them relatable through everyday examples and concerns。

Employing DK's trademark visual approach， The Economics Book takes a frequently confusing subject and makes sense of it， clearly highlighting both historically important and emerging ideas in this critical field of science。

2014 The Mom's Choice Awards（R） Gold Award Winner

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Reviews

Sergio Medinaceli ，

Es difícil escribir un libro de historia económica aislado del sesgo de sus autores。 Sin embargo， este libro minimiza este problema。

mar ♡ ，

I’ve learnt some new economic theories with this。

ARC ，

I think this book tries its very best to make economic concepts as layman as possible to the average reader。 You may need to re-read some concepts to try and grasp it better but overall I managed to complete it from cover to cover。 Great read！

Anthony Thompson ，

It's like giving yourself a lifetime of reading when you've already got a lifetime worth of reading to get through。 Once again， Economists are silly。 I'll get less emotional about it， I swear。 It's like giving yourself a lifetime of reading when you've already got a lifetime worth of reading to get through。 Once again， Economists are silly。 I'll get less emotional about it， I swear。 。。。more

Rockwell ，

Talks a lot about the history of economics， which is fine and is a bit more engaging。 But I would have liked a bit more theory and less history。

Filippo Coli ，

Spiega i concetti in modo semplice ed efficace

Armanbyek Khumirzakh ，

Took me 2 years to pick it back up， but it was worth it。 Simple and interesting way of explaining complex subjects

Ramiz Qurbanlı ，

👍

Luiza ，

Very interesting and informative book， especially for those like me who don't know so much information about economics。 This book is a good example for science popularization。 I'm keen to read the other encyclopedias from the series as well， good job！ Very interesting and informative book， especially for those like me who don't know so much information about economics。 This book is a good example for science popularization。 I'm keen to read the other encyclopedias from the series as well， good job！ 。。。more

Raksmey Samleng ，

I just skimmed 😉

Maria Savina ，

Так себе

Blair ，

A mint reading book。 I’ve got the paper book finally。 A good abc book of economics

Vince Evans ，

I was looking for a basic overview of economic concepts and the book delivered。 It was a bit dry for my taste at times， but it gets the job done。

Christian ，

It presents the ideas really well， and is structured based on its history of important topics。Because it's packed full of topics and ideas， every one of them has usually only 2 pages （sometimes 1， sometimes 4） space。 This is ok to get an overview of things， which is obviously the very goal of this book， which it achieves。 It presents the ideas really well， and is structured based on its history of important topics。Because it's packed full of topics and ideas， every one of them has usually only 2 pages （sometimes 1， sometimes 4） space。 This is ok to get an overview of things， which is obviously the very goal of this book， which it achieves。 。。。more

Maria Gabriella ，

nao era bem oq eu queria， mas foda-se

Dawid Stronczak ，

I would challenge the "simply explained part" - the book sometimes quite hard to follow， chaotic and。。。 boring。 On top of that it was super long。 Definitely not what I was looking for。 I would challenge the "simply explained part" - the book sometimes quite hard to follow， chaotic and。。。 boring。 On top of that it was super long。 Definitely not what I was looking for。 。。。more

Juan CA ，

Excelente libro con resumen de ideas económicas。 Es un libro demasiado resumido， es como una guía para tener un rápido recordatorio。 La primer leida puede tomar más tiempo de lo esperado， pues te guía a buscar información adicional en fuentes externas。

William Yip ，

Some concepts did not have a clear explanation and some of the biographical details such as who an economist married were unnecessary。 That said， this book serves as a good overview of the economic fields that govern society。 It was interesting to read about the longstanding conflict between theories that assume people are or are not rational agents in the economy and between policies that advocate or do not advocate for state intervention。

melissa Kamy Ramirez ，

Es un libro que en las primers parabras me quede Picada devo de admitirlo es mucha la information que tenia y que no Era necessarily pero si aprendi mucho y me siento satisfaction por lo que ley

janet wakefield ，

A great overview on economics。

Ywun ，

This book is a great resource for anyone who are interested in economics。 Simple writing， visual illustrations and references all together make the book very interesting。 I am very glad that I I have read the book。

Jesse Scobie ，

Another concise， but highly informative and very well organized "Big Ideas Simply Explained" book！ This book is likely the best overall of 7 that I've read in the series。 It really boils down complex economic theories， philosophies， histories and the backgrounds of top economists to layman's terms， making them accessible to millions。 Highly recommend from novices to Economics students！ Another concise， but highly informative and very well organized "Big Ideas Simply Explained" book！ This book is likely the best overall of 7 that I've read in the series。 It really boils down complex economic theories， philosophies， histories and the backgrounds of top economists to layman's terms， making them accessible to millions。 Highly recommend from novices to Economics students！ 。。。more

Philippe Cote ，

Excellent livre pour passer à travers les grand concepts， les personnages importants et l'histoire de l'économie。Les concepts expliqués sont clairement illustrés en schéma facile à comprendre。 Excellent livre pour passer à travers les grand concepts， les personnages importants et l'histoire de l'économie。Les concepts expliqués sont clairement illustrés en schéma facile à comprendre。 。。。more

Douglas Forslund ，

A great overall look at economics at least from the perspective of a layman。

Corvidianus ，

It’s a little strenuous getting past its wild leaps of conjecture and fallacious flowcharts。 If the argument isn’t proven or adequately defended， but still asserted as a fundamental tenet of accepted economic theory， that’s a distractingly large issue with any such book。 Specifically， the book never states outright that the economics covered herein leans heavily on a modern capitalist / Keynesian model， and yet that seems quite self-evident after just a few pages。I’m not even personally opposed It’s a little strenuous getting past its wild leaps of conjecture and fallacious flowcharts。 If the argument isn’t proven or adequately defended， but still asserted as a fundamental tenet of accepted economic theory， that’s a distractingly large issue with any such book。 Specifically， the book never states outright that the economics covered herein leans heavily on a modern capitalist / Keynesian model， and yet that seems quite self-evident after just a few pages。I’m not even personally opposed to the idea that， for instance， private property is best in most situations， but this author’s treatment of the matter was so smugly binary in the opening pages， he came off as utterly unprepared to dispute the alternative cases or any reasons why public property might be， at certain times， preferable （for instance， public schools vs the full privatization of education）。 No one’s handing out armbands here， but a little devil’s advocacy in a book of theory sure as hell never hurts。 No mention whatsoever of public programs / properties which have been hugely beneficial in the advancement of society， such as libraries。This has really been sticking in my craw， and I hesitated to review at all， initially， because one of the only other 2 star ratings complained the book was flagrantly socialist。 I thought， maybe we’re all just a little broken by zeal and can’t see past our respective red tinted glasses， but nay， I think not。 For one， I don’t think I’m all that polar one way or the other in terms of economic models so much as taxed by the excessively right wing tone of so many modern economists。 At least most of them make more of an effort to seem balanced when not actively hired as lobbyists。I intend to forge on a little further just in case this turns around， but so far， I’ve disagreed with the approach or conclusion every few pages， and it’s a bit like being stuck in the car with someone convinced they’re an authority on a subject you never expected to be more versed in。 I came to this expecting to be blown away by my own ignorance & fed the sweet mana of knowledge， but so far it’s been a dude in a trench coat behind the dumpster at AM/PM asking if I want one of his Twinkies。My inner Molly the Mare is dying to give this 3 stars minimum， because of the pretty graphics。 But can’t quite stomach it at this point， if the entirety of content is truly so unreliable as I suspect it is - at this juncture - the attractive aesthetic makes it almost worse。 Like the sweetness of antifreeze。 。。。more

Tim Martin ，

I can't say I loved it， but it was informative and didn't numb my brain for an economics book。 It's one of those books I'd revisit in any case to brush up on a concept。 I can't say I loved it， but it was informative and didn't numb my brain for an economics book。 It's one of those books I'd revisit in any case to brush up on a concept。 。。。more

Tiger Lily ，

It’s a good starting point for economics but sometimes the consent where a bit hard to understand over all 4\5

Caroline ，

I found this book quite a challenging read。 I made a note of the issues/pages that I couldn't understand at all， and there were fifteen in total， （given my past difficulties in attempting to study aspects of economics I think that is a cause for applause rather than denigration。）The main author/consulting editor is a professor of history at The London School of Economics， and this is how it is structured - economics from an historical perspective。 Each small chapter describes the schools of thou I found this book quite a challenging read。 I made a note of the issues/pages that I couldn't understand at all， and there were fifteen in total， （given my past difficulties in attempting to study aspects of economics I think that is a cause for applause rather than denigration。）The main author/consulting editor is a professor of history at The London School of Economics， and this is how it is structured - economics from an historical perspective。 Each small chapter describes the schools of thought within a given segment of time。 Each chapter has a box titled "In Context"， where we are given the situations before and after the ideas being discussed。 There is also a second box， giving a brief biography of the main economist being discussed in each chapter。 I found these columns a bit redundant。 I would have preferred all the space being devoted to explaining economic ideas。 Having said that， if you were doing economics as a subject at school or university this extra information might be useful。As with all Dorling Kindersley books this is generously illustrated， with bold graphics of headings， alongside accompanying pictures， plus diagrams and infographics in the chapters themselves。 I found this heartening。 Just when I was starting to get brain ache， there would be a nice visual place to rest。 The book is also quite large， a cross between coffee table size and regular textbook。 It has reasonably large text too。 All this makes reading it a lot more enjoyable。Finally there is both a glossary and an index。 It was a good read， but I also think I shall have no problem using this as a reference book in the future。 The way that subjects are compartmentalized would also make that particularly easy。 。。。more

Tao Li ，

Overall， it is fun to read this book， which introduces many economic terms， ideas， research directions as well as developments。 However， I take a critical look at the organization of the book。 Even though I know this is just a coffee table book， I still believe it could have been better if the materials were arranged in a different way。 Roughly speaking， the materials are organized in terms of chronology， including discussions on economic studies in ancient times， industrial revolutions， war tim Overall， it is fun to read this book， which introduces many economic terms， ideas， research directions as well as developments。 However， I take a critical look at the organization of the book。 Even though I know this is just a coffee table book， I still believe it could have been better if the materials were arranged in a different way。 Roughly speaking， the materials are organized in terms of chronology， including discussions on economic studies in ancient times， industrial revolutions， war times， post- war period and contemporary。 Normally， chronological order is desired for an introductory book， but I find it a bit annoying when an economics theory and its development are discussed in several parts of the book with the focus placed on different aspects。 Moreover， it is even more confusing when theories on macroeconomy and microeconomic are discussed "randomly"。 For example， in "post-war economics"， authors elaborate on macroeconomy including Keynesianism， followed by discussion on game theory， a microeconomic study and then turn back to macroeconomy topics。 I personally think the book can be improved by reorganizing the contents in a topic-centered fashion。 Due to the confusing structure of the book， I nearly lost interest halfway。 Finally， I suspect the book was written by several authors and they didn't collaborate well: there are duplicate arguments on the same thing。 For example， the final section "The housing market mirror boom and bust" essentially tells the same story of Minsky moment introduced in a previous section "Stable economics contain the seeds of instability"， though from a different viewpoint。 To summarize， I still recommend this book as a fun-to-read but it only worth three stars。 。。。more

Alistair ，

Bought the hardback version of this book。 Lots of interesting thoughts for people interested in economics。 I wouldn't say it was for people doing an Economics degree， but more for those interested in it as a subject to understand。 The format is similar to those in the book series。Review in progressContents10） Introduction16-47） Let The Trading Begin 400 BCE - 1770 CE20） Property should be private - Property rights22） What is a just price？ - Markets and morality24） You don't need to barter when y Bought the hardback version of this book。 Lots of interesting thoughts for people interested in economics。 I wouldn't say it was for people doing an Economics degree， but more for those interested in it as a subject to understand。 The format is similar to those in the book series。Review in progressContents10） Introduction16-47） Let The Trading Begin 400 BCE - 1770 CE20） Property should be private - Property rights22） What is a just price？ - Markets and morality24） You don't need to barter when you have coins - The function of money26） Make money from money - Financial services30） Money causes inflation - The quantity theory of money34） Protect us from foreign goods - Protectionism and trade36） The economy can be counted - Measuring wealth38） Let firms be traded - Public companies39） Wealth comes from the land - Agriculture in the economy40） Money and goods flow between producers and consumers - The circular flow of the economy46） Private individuals never pay for street lights - Provision of public goods and services The Age Of Reason 1770-182052） Man is a cold， rational calculator - Economic man54） The invisible hand of the market brings order - Free market economics62） The last worker 63） Why do diamonds cost more than water？ - The paradox of value64） Make taxes fair and efficient - The tax burden66） Divide up pin production， and you get more pins - The division of labour68） Population growth keeps us poor - Demographics and economics70） Meetings of merchants end in conspiracies to raise prices - Cartels and collusion74） Supply creates its own demand -Gluts in markets76） Borrow now， tax later - Borrowing and debt78） The economy is a yo-yo - Boom and bust80） Trade is beneficial for all - Comparative advantageIndustrial and Economic Revolutions 1820-192990） How much should I produce， given the competition？ - Effects of limited competition92） Phone calls cost more without competition - Monopolies98） Crowds breed collective insanity - Economic bubbles100） Let the ruling classes tremble at a communist revolution - Marxist economics106） The value of a product comes from the effort needed to make it - The Labour theory of value108） Prices come from supply and demand - Supply and demand114） You enjoy the last chocolate less than the first - Utility and satisfaction116） When the price goes up， some people buy more - Spending paradoxes118） A system of free markets is stable - Economic equilibrium124） If you get a pay rise， buy caviar not bread - Elasticity of demand126） Companies are price takers not price makers - The competitive market130） Make one person better off without hurting the others - Efficiency and fairness132） The bigger the factory， the lower the cost - Economies of scale133） The cost of going to the movies is the fun you'd have had at an ice-rink - Opportunity cost134） Workers must improve their lot together - Collective bargaining136） People consume to be noticed - Conspicuous consumption137） Make the polluter pay - External costs138） Protestantism has made us rich - Religion and the economy140） The poor are unlucky， not bad - The poverty problem142） Socialism is the abolition of rational economy - Central planning148） Capitalism destroys the old and creates the new - Creative destructionWar And Depressions （1929-1945）154） Unemployment is not a choice -Depressions and unemployment162） Some people love risk， others avoid it - Risk and uncertainty164） Government spending boosts the economy by more than what is spent - The Keynesian multiplier。166） Economies are embedded in culture - Economics and tradition。168） Managers go for perks， not their company's profits - Corporate governance170） The economy is a predictable machine - Testing economic theories171） Economics is the science of scarce resources - Definitions of economics172） We wish to preserve a free society - Economic liberalism178） Industrialization creates sustained growth - The emergence of modern economies180） Different prices to different people - Price discriminationPost War Economics 1945- 1970186） In the wake of war and depression， nations must cooperate - International trade and Bretton Woods188） All poor countries need is a big push - Development economics194） People are influenced by196） Governments202） The more people204） People smooth consumption 206） Institutions matter208） People will avoid work if they can210） Theories about market214） There is no perfect voting system - Social choice theory216） The aim is to maximize happiness， not income 220） Policies to correct markets can make things worse - The theory of the second best222） Make markets fair - The social market economy224） Over time， all countries will be rich - Economic growth theories226） Globalization is not inevitable - Market integration232） Socialism leads to empty shops - Shortages in planned economies234） What does the other man think i am going to do？ Game theory242） Rich countries impoverish the poor - Dependency theory244） You can't fool the people - Rational expectations248） People don't care about probability when they choose - Paradoxes in decision making250） Similar economies can benefit from a single currency - Exchange rates and currencies256） Famine can happen in good harvests - Entitlement theoryContemporary Economics 1970 - present262） It is possible to invest without risk - Financial engineering266） People are not 100 percent rational - Behavioural economics 270） Tax cuts can increase the tax take - Taxation and economic incentives272） Prices tell you everything - Efficient markets273） Over time， even the selfish cooperate with others - Competition and cooperation274） Most cars traded will be lemons - Market uncertainty276） The government's promises are incredible - Independent central banks278） The economy is chaotic even when individuals are not - Complexity and chaos280） Social networks are a kind of capital - Social capital281） Education is only a signal of ability - Signalling and screening282） The East Asian state governs the market - Asian Tiger economies288） Beliefs can trigger currency crises - Speculation and currency devaluation294） Auction winners pay over the odds - The winners curse296） Stable economies contain the seeds of instability - Financial crises302） Businesses pay more than the market wage - Incentives and wages303） Real wages rise during recessions - Sticky wages304） Finding a job is like finding a partner or a house - Searching and matching306） The biggest challenge for collective action is climate change - Economics and the environment310） GDP ignores women - Gender and economics312） Comparative advantage is an accident - Trade and geography313） Like steam， computers have revolutionized economies - Technological leaps314） We can kick-start poor economies by writing off debt - International debt relief316） Pessimism can destroy healthy banks - Bank runs322） Saving gluts abroad fuel speculation at home - Global saving imbalances326） More equal societies grow faster - Inequality and growth328） Even beneficial economic reforms can fail - Resisting economic change330） The housing market mirrors boom and bust - Housing and the economic cycle332） Directory340） Glossary344） Index351） Acknowledgments 。。。more

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