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To David Friedman (son of Milton Friedman), economics explains everything. In a way, that's an odd thing for him to say: Friedman Jr. has never taken an economics course in his life (by training he's a physicist). Yet he defines economics broadly and uses it as a tool to understand all aspects of human behavior, from selecting a mate to picking a grocery store line to switching lanes in rush-hour traffic jams. If you like the economics-for-everyman approach of such writers as Steven E. Landsburg, then Friedman is for you.
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This is not your father's textbook nor is it even Friedman's. Son of economics Nobel laureate Milton Friedman, David uses everyday life to illustrate economic principles. In so doing he demonstrates his primary premise that behavior is determined by rationally made economic choices. He argues that economics is based on the "false" but "useful assumption" that "people have reasonably simple objectives and choose the correct means to achieve them." He says it does not matter that, individually, this is not always the case; collectively, the effects of random irrational behavior average out. His use of commonplace occurrences such as choosing a line at the supermarket checkout or agreeing to do the dishes helps make ideas such as price theory and exchange rates more understandable. Though Friedman's montage of examples sometimes overwhelms, both his pedigree and his spirited style will attract interest. David Rouse
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To most people, economics is a dull science full of statistics and jar , mainly concerned with money and designed to answer a nar (but important) set of questions. Lesen Sie die erste Seite
Buchdeckel | Copyright | Inhaltsverzeichnis | Auszug | Stichwortverzeichnis | Rückseite
To most people, economics is a dull science full of statistics and jar , mainly concerned with money and designed to answer a nar (but important) set of questions. Lesen Sie die erste Seite
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2 von 5 Kunden fanden die folgende Rezension hilfreich
Format:Taschenbuch
Be prepared to think as you read this book, it is not just a tirade as so many books with an economic ax to grind are! But the effort you must put into understanding this book will be well rewarded. I paticularly liked the concepts of buyers surplus and sellers surplus, they have enriched my views as to what happens when exchanges take place.
The mainstream media still does not understand international trade in even the most basic way. This is amazing and distressing to me. I was glad to see the author compare this to still accepting the ancient Ptolemiac view of astronomy. Please folks, read ANY economist about foreign trade, what is NOT true is the imports=bad, exports=good notion despite the claims of bumper stickers (Buy American) and politicians (Pat Buchannon). Journalists, please research this issure a bit before you speak!
1 von 4 Kunden fanden die folgende Rezension hilfreich
Format:Gebundene Ausgabe
A great overview of economic theory. Everyone should be exposed to these basic ideas about how the econom works and why it works that way. Free copies should be sent to all legislators and journalists as a public service
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56 von 62 Kunden fanden die folgende Rezension hilfreich
It is a lot better than Freakonomics.
4. Januar 2006
Format:Taschenbuch|Von Amazon bestätigter Kauf
Economics for the laypersons has become the topic "du jour." This book written nearly a decade ago before economics became hot far surpasses its successors such as "Freakonomics." David Friedman does not dumb down economics like the others. Other reviewers who had at least a rudimentary interest in economics really enjoyed it. A few others who confused economics with their own political views predictably got frustrated with it. Economics is not always intuitive. As a result, several reviewers thought the author made mistakes regarding the graphs on page 29, or the example on housing on page 35. I reread these passages carefully. The author is accurate, it is just that these economics concepts are counter-intuitive. And, contrary to Steve Levitt in "Freakonomics" David Friedman did not shy away from tackling the inherent complexity in economics.
The book gives you a good foundation in both macro and microeconomics. Very early in the book he introduces and graphs demand and supply curves, marginal costs and revenue curves, utility functions. His coverage of international trade, taxation, subsidies, rent control is excellent. Along the way, you will also learn about investment theory and corporate finance. Friedman explains how the Efficient Market Hypothesis applies not only to stocks but freeway traffic and supermarket lines.
Friedman also gives full credit and fleshes out the ideas from the founders of modern economics, including Adam Smith, David Ricardo, and Alfred Marshall. This is unlike Steve Levitt in "Freakonomics" who truly believed he was the first economist to tackle every day issues forgetting that economics is the science of understanding everyday behavior to begin with.
For further reading, if you want to pursue an econ refresher I recommend an actual textbook: "Principles of Economics" by Gregory Mankiw. This is a textbook with a hip and humorous attitude. The Economist, the British magazine, raved about it when it came out. I also recommend Gary Becker's "The Economics of Life", and Steve Landsburg's "The Armchair Economist."
The book gives you a good foundation in both macro and microeconomics. Very early in the book he introduces and graphs demand and supply curves, marginal costs and revenue curves, utility functions. His coverage of international trade, taxation, subsidies, rent control is excellent. Along the way, you will also learn about investment theory and corporate finance. Friedman explains how the Efficient Market Hypothesis applies not only to stocks but freeway traffic and supermarket lines.
Friedman also gives full credit and fleshes out the ideas from the founders of modern economics, including Adam Smith, David Ricardo, and Alfred Marshall. This is unlike Steve Levitt in "Freakonomics" who truly believed he was the first economist to tackle every day issues forgetting that economics is the science of understanding everyday behavior to begin with.
For further reading, if you want to pursue an econ refresher I recommend an actual textbook: "Principles of Economics" by Gregory Mankiw. This is a textbook with a hip and humorous attitude. The Economist, the British magazine, raved about it when it came out. I also recommend Gary Becker's "The Economics of Life", and Steve Landsburg's "The Armchair Economist."
17 von 19 Kunden fanden die folgende Rezension hilfreich
Excellent second-stage primer
13. August 2002
Format:Taschenbuch
Like Steven Landsburg's "Armchair Economist," David Friedman's "Hidden Order" is an excellent primer in basic economics. Any book that helps bring real economics (as opposed to pseudo talk-show/pundit/political speech "economics") to an understandable level is good in my book, even if occasionally flawed.
"Armchair" did a good-to-excellent job of boiling down complex economic questions and answers. "Hidden Order" does so as well, but note that it's not for the light-hearted; plenty of graphs are available, and one not versed in Econ 101 may become temporarily lost. Thankfully, Friedman shores up his chapters by proving the theory with graphs, then stating "Here it is in English..." This allows readers who are not graphically inclined to skip over it without losing much understanding, while readers more interested in finding the proof behind the claim can peruse the mathematics at their leisure.
Still, it's not all perfect. There's some issues that he goes into great length, but others are touched on and left hanging. In part this is to reduce the down time for an already-sluggish topic, but the length for each issue varies quite a bit. And I have no idea why a parking meter is on the cover.
19 von 22 Kunden fanden die folgende Rezension hilfreich
Shaped my life (not kidding)
6. Februar 2006
Format:Taschenbuch
This book shaped my life since i picked it up in 1999 while browsing. I found it fascinating and adept - see the other reviews. I did an MBA, changed careers, worked in strategy consulting, and now have a VP-level job in a $6B enterprise. (Well, besides reading this book, the MBA helped...) This book is really eye-opening and you'll see the world around you differently, and how all kinds of people, organizations, and forces respond to incentives that can be subtle to figure out. For example, I'd known since junior high the Brits wore Red Coats in the Revolutionary War, and that made them easy to shoot at. It had never dawned on me, the British management felt the risk of Brit infantry fleeing AWOL was greater than the risk of the same, getting shot. They took the risk of getting shot, to avoid the risk of their troops fleeing (too obvious in bright red coats). Fascinating. Their are apparently some typos in the book which you can correct via the author's website, but I hadn't known that and was impressed by the book anyway, as is.
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