The 21st Century Economy: A Beginner’s Guide
by: Randy Charles Epping
Published by: Vintage (April release
Buy From Amazon.com
Reviewed by Muhammed Hassanali
If you are looking for a crash course in economics, this may be a book to consider. The 21st Century Economy provides readers with a basic understanding of the most common economic ideas. The text presents these ideas in a language that is easy to read and easy to understand. In addition, all chapters have several “Informational Tools” which serve to summarize relevant economic concepts. One useful quality of the Informational Tool is that it poses a question that highlights the term(s) summarized, and depending on the question’s wording (e.g., “How…” or “What…”), the reader gleans some characteristic of the term.
The book clarifies a lot of economic terms. Hence readers would be able to understand an economic discussion, but may have difficulty drawing the relationships among these ideas without additional assistance. In essence, the book sacrifices depth for breath – but that is its primary intent. Virtually every idea is presented at least twice: once in the text and once in the “Informational Tool.” While the repetition may try the patience of some readers, the distinctive formatting and highlighting the term(s) in bold serve to provide a quick reference later.
As I am reading an uncorrected proof, I hope that the final version undergoes the scrutiny of an able editor as there are glaring inconsistencies in the text (for example in the section discussing the Gini coefficient, the ranking’s explanation is flip-flopped). While the book does provide extended definitions to several economic terms, it is not a substitute for even an entry level course in economics as far as depth of the subject matter is concerned.
The book is great for understanding basic economic concepts, and even appropriately using economic jargon in casual conversation. However for in-depth reflection or discussion, more depth than the book provides is needed.
Armchair Interviews says: Easy-to-understand look at economics.
From our armchair to yours...
