"Naked Economics" Book Review by Nicky

A review of the book "Naked Economics" by Charles Wheelan.
# 146047 | 845 words | 0 sources | 2010 | US
Published on Dec 14, 2010 in Literature (American) , Economics (General)

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The paper looks at how Charles Wheelan in his book "Naked Economics" attempts to explain economics in terms suitable for a lay audience and considers whether or not his approach would be successful on an audience without an economic background. The paper specifically points out Wheelan's ability to distill complex issues to their base essences but notes that some of the analogies he makes may only make sense when you understand the underlying concepts. Despite the book's qualities, the writer of this paper does not recommend this work to be one's only reading on economics.

From the Paper:

"In his book Naked Economics, Charles Wheelan attempts to explain economics in terms more approachable to the lay audience. He eschews the typical barrage of equations and graphs. Rather, Wheelan seeks to show how economics works by providing examples, and by explaining with text, the mechanisms by which economic thinking is undertaken.
"This is a laudable goal. While those of us engaged in the study of economics may not find it "the dismal science", others often do. In the world today, you can see that understanding of economics among members of the general public is, to be generous, limited. Yet economics is essentially the study of the way the world works. Almost all of the decisions we make can be distilled down to fundamental economic principles such as utility and opportunity cost. Supply and demand drive our own decisions. When extrapolated to a larger stage, such as the state, the nation or the world, these same basic principles still apply. Thus, Wheelan's approach to the issue is laudable. The world does need to have a better understanding of economics and its approaches."

Cite this Book Review:

APA Format

"Naked Economics" (2010, December 14) Retrieved December 05, 2022, from https://www.academon.com/book-review/naked-economics-146047/

MLA Format

""Naked Economics"" 14 December 2010. Web. 05 December. 2022. <https://www.academon.com/book-review/naked-economics-146047/>