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Economics Explained

Everything You Need to Know About How the Economy Works and Where It's Going

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In its fourth edition, Economics Explained continues its announced purpose—to explain that mysterious thing called economics—with a new urgency.

It is announced in the first sentence of the introduction: "Just in case the reader-to-be hasn't noticed, disturbing things are going on in the American economy these days."

This new edition is about these disturbing things: a trend toward inequality of incomes, the appearance of a new "globalized" capitalism, the "specter" of inflation. As before, Robert Heilbroner and Lester Thurow treat these problems in language that seeks to make clear their causes and treatments. In this straightforward, highly accessible reference, Heilbroner and Thurow -- two of America's most respected and articulate economists -- offer all the economics essential for becoming an effective investor, a savvy business decision maker, or simply an informed member of society.

The Boston Globe An excellent course in the history of capitalism and socialism, of growth, progress, and decline.

Ms. At last, a patient but not condescending, detailed but not recondite, conversational but not glib discussion of the factors and terms that any reader of the daily newspaper needs to understand.

Robert B. Reich, former Secretary of Labor and author of Locked in the Cabinet In this delightfully written primer, Heilbroner and Thurow sweep away the debris of economic theory to expose the political and social choices lying just below it.