Naked Economics strips away the complex equations and jargon of the Ivory Tower to reveal the underlying logic of human behavior. Charles Wheelan explains how individuals respond to incentives, why trade-offs are unavoidable, and how information asymmetries dictate market outcomes. He clarifies the function of the Federal Reserve in managing inflation, the mechanics behind global trade, and the reason why simple human choices can lead to massive environmental externalities. The text focuses on the role of creative destruction in a healthy economy and how governments provide the legal frameworks necessary for private markets to flourish.
This book is intended for curious readers who want to understand the forces shaping public policy and global commerce without a background in mathematics. It provides clear mental models for evaluating everything from why professional athletes earn millions to how developing nations can lift themselves out of poverty. Readers finish the book with a practical vocabulary for discussing fiscal policy and a realistic sense of how globalization affects their own standards of living. It functions as a functional guide to the invisible forces that dictate the flow of wealth and resources.
- Published
- 2002
- Language
- EN
