Economics
By Ha-Joon Chang
The User’s Guide. Pelican, 2014.
Summary of Economics book by Ha-Joon Chang
A thought-provoking and engrossing guide that will challenge your preconceptions of economics and enable you to gain the knowledge required to critically evaluate different theories and formulate your own opinions.
Chapters in Economics book summary
What do you get from this book? Discover why everybody can and should understand economics history and theories
Economics is now being used to study many different topics—we need to understand what it is and what it’s useful for
Capitalism first became widespread in 18th century England, bringing incredible new levels of productivity and a profit-centered mentality
Evolving economic policies and global conflicts were followed by prosperity during the Golden Age of Capitalism
The rise of neoliberalism has propelled deregulation and renewed the focus on free trade and the free market
There are many distinct schools of economics; each has its own strengths and limitations
Different actors on the economic stage—individuals, trade unions, companies, and governments—often have conflicting interests and goals
Economics is more than just a numbers game—political freedom and personal happiness provide the context for economic measurements
Improvements to production systems have been key to economic development, and the manufacturing industry remains highly relevant
Work is a fundamental part of human life—working conditions have improved, but unemployment takes a huge toll
The financial crisis of 2008 was the result of rampant profit-seeking and risky behavior by private investment banks
Widespread inequality and poverty are red flags that economics can’t explain away and hasn’t come close to solving
The current economy is characterized by globalization, which often serves to reinforce inequalities and prop up the elite
Summary of the key insights
Selected critiques in brief
Final word
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Economics — Book Summary Snapshot
Who should read Economics book
- College students
- anyone interested in understanding the global economy
- businesspeople and investors
- those who want to stay on top of politics and international affairs
About the author of Economics
Ha-Joon Chang
Dr. Ha-Joon Chang is a South Korean economist specializing in the political economy of development at the University of Cambridge. He has authored numerous books that challenge conventional views of free market economics, including the international bestseller 23 Things They Don’t Tell You About Capitalism.
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