Free lunch

David Smith

Why I looked at this book

I'm interested in economics and read quite a few books on the subject, but I sometimes feel that there are basic things I should understand better. What is the difference between fiscal and monetary policies? Can I understand what Marx actually said without ploughing through all of his work? I'm hoping that this book will enlighten me on such issues.

First impressions

Smith starts by explaining that when the first edition of this book came out, its purpose was to introduce economics to a public which didn't necessarily have that much interest in the subject. Following the financial crisis there's a lot more interest in economic matters, and he hopes that the book will help inform readers about the economic concepts they hear about. He starts with a look at that ever-popular subject: house prices, explaining why we take much more interest in the price of houses than, say, the price of potatoes.

So far the book has been easy to follow and I'm hoping for an entertaining and informative read.
Coming soon:
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In 1930, John Maynard Keynes wrote Economic Possibilities for our Grandchildren, predicting an age of leisure in a couple of generations. Why aren't we there yet? That's just one of the questions asked in
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