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Economics: The User's Guide: The User's Guide Hardcover – August 26, 2014

4.5 4.5 out of 5 stars 1,460 ratings

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In his bestselling 23 Things They Don't Tell You About Capitalism, Cambridge economist Ha-Joon Chang brilliantly debunked many of the predominant myths of neoclassical economics. Now, in an entertaining and accessible primer, he explains how the global economy actually works-in real-world terms. Writing with irreverent wit, a deep knowledge of history, and a disregard for conventional economic pieties, Chang offers insights that will never be found in the textbooks.

Unlike many economists, who present only one view of their discipline, Chang introduces a wide range of economic theories, from classical to Keynesian, revealing how each has its strengths and weaknesses, and why there is no one way to explain economic behavior. Instead, by ignoring the received wisdom and exposing the myriad forces that shape our financial world, Chang gives us the tools we need to understand our increasingly global and interconnected world often driven by economics. From the future of the Euro, inequality in China, or the condition of the American manufacturing industry here in the United States-
Economics: The User's Guide is a concise and expertly crafted guide to economic fundamentals that offers a clear and accurate picture of the global economy and how and why it affects our daily lives.

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Editorial Reviews

Review

“The dismal science rendered undismally, even spryly...lively, intelligent, and readily accessible.” ―Kirkus Reviews

“This excellent economics primer is written "in plain terms" for a college-educated reader; it follows efforts by some academics to seek a readership market beyond the classroom.” ―
Booklist

“A practical guide that shows the importance of the subject as a worldview and how it fits into everyday life.” ―
Library Journal

“This book should be the poster child for the word "tweener." Not quite an introductory text (although that is the category into which the author places it), the book is "a mile wide and an inch deep" and includes "everything but the kitchen sink" in terms of level of detail and scope of coverage […] an interesting, entertaining, and worthwhile contribution that offers a picture of the global economy and how and why it affects daily life.” ―
A. R. Sanderson, University of Chicago, CHOICE

About the Author

Ha-Joon Chang, a Korean native, has taught at the Faculty of Economics, University of Cambridge, since 1990. He has worked as a consultant for numerous international organizations, including various UN agencies, the World Bank, and the Asian Development Bank. He has published 11 books, including Kicking Away the Ladder, winner of the 2003 Myrdal Prize. In 2005, Ha-Joon Chang was awarded the 2005 Leontief Prize for Advancing the Frontiers of Economic Thought.

Ha-Joon Chang teaches economics at Cambridge University. His books include Reclaiming Development (Zed 2004) and 23 Things They Don't Tell You about Capitalism (2010).

Product details

  • ASIN ‏ : ‎ 1620408120
  • Publisher ‏ : ‎ Bloomsbury Publishing (August 26, 2014)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 384 pages
  • ISBN-10 ‏ : ‎ 9781620408124
  • ISBN-13 ‏ : ‎ 978-1620408124
  • Item Weight ‏ : ‎ 1.42 pounds
  • Dimensions ‏ : ‎ 6.7 x 1.55 x 9.5 inches
  • Customer Reviews:
    4.5 4.5 out of 5 stars 1,460 ratings

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4.5 out of 5 stars
1,460 global ratings

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Customers say

Customers find the book provides a fair and easy explanation of economic concepts for non-economists. They appreciate the detailed discussion on basic concepts like capitalism, money, and monopoly. The book is described as insightful, interesting, and engaging. Readers praise the concise writing style and relatable references. The author's sense of humor and perspective are also appreciated.

AI-generated from the text of customer reviews

76 customers mention "Explanations"68 positive8 negative

Customers find the book's explanations fair and easy for non-economists. They appreciate the detailed discussion of basic concepts like capitalism, money, and monopoly. The book provides a good synthesis of the history of economic thought and today's schools of thought. Readers expect to come away with deeper insights into economic issues and a greater respect for them. They find the details explained right alongside their importance and motivation. Overall, it is described as a well-researched and well-written book suitable for common researchers.

"...Chang also addresses the inseparability of economics and policy with their profound social implications, for example, the Pareto criterion about the..." Read more

"...a simple read-through but aside from being easy to reread, its organized well and easy to reference specific points. Excellent overall." Read more

"...The book begins with a detailed discussion on basic concepts like capitalism, money, monopoly, and proceeds to cover different schools of economic..." Read more

"...This is a most enjoyable read, full of easy to understand explanations, little asides and jokes, informative footnotes at the bottom of pages,and..." Read more

37 customers mention "Insight"33 positive4 negative

Customers find the book insightful, interesting, and engaging. They appreciate the refreshing perspective and accessible overview of a difficult subject. However, some feel the last third gets lost in details.

"Ha-Joon Chang's "User Guide" is an accessible, engaging resource for anyone wanting to see the big picture in the complicated universe of economics...." Read more

"...But ultimately, the biases in the book is what makes this an interesting read, and I would not hesitate to recommend this book to anyone interested..." Read more

"...He presents thumb-nail sketches of the major theories, their assumptions, their political and moral commitments, and their strengths and weaknesses..." Read more

"...that he gives a brief outline of modern economic history, grounding the book in reality...." Read more

21 customers mention "Readable"21 positive0 negative

Customers find the book readable and easy to understand. They appreciate the concise writing style and relatable examples from everyday life.

"...It is well researched, well written at a high school graduate level, and thus accessible to most anyone with an interest in economics..." Read more

"...I think the most important takeaway from this readable and winsome work is Chang's insistence that the purpose is not to convince you that one..." Read more

"...Also this is brilliantly written and very gripping. I give it to anyone of my friend's children who go to university to study the subject...." Read more

"This is a very easy-to-read, enjoyable introduction to economics...." Read more

5 customers mention "Humor"5 positive0 negative

Customers enjoy the humor and perspective in the book.

"...read, full of easy to understand explanations, little asides and jokes, informative footnotes at the bottom of pages,and short bibliographical..." Read more

"...And also, very entertaining, great sense of humor. I recommend it for "rigid" and "non-rigid" economists...." Read more

"...Clear explanations of basic economic concepts. Also has sense of humor and perspective. Doesn't push one point of view." Read more

"...The author makes relatable and often humorous reference in order to strengthen the reader's understanding of potentially complicated concepts...." Read more

The dismal science comes alive
5 out of 5 stars
The dismal science comes alive
Ha-Joon Chang has succeeded where a great many textbook writers have failed: He's made economics comprehensible and interesting for the rest of us.Okay, nobody can actually make complex financial derivatives comprehensible for the casual reader. But that's his point, as I understand it: They are too complex, and for no reason except to bamboozle people.The subtitle is well chosen: He shows why it matters to all of us.
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Top reviews from the United States

  • Reviewed in the United States on January 17, 2024
    Ha-Joon Chang's "User Guide" is an accessible, engaging resource for anyone wanting to see the big picture in the complicated universe of economics. Also, the book layout, notes, and index make it an essential addition to any personal reference library. I share with some of the other comments from other readers that I wish I had read this as an undergraduate Econ major forty-plus years ago. The author analyzes vital concepts and the ABCs of economic theories, their strengths, and weaknesses in real-world settings. Chang also addresses the inseparability of economics and policy with their profound social implications, for example, the Pareto criterion about the "greater good." For a comprehensive understanding of the subject, this book is a must-read. However, a baseline of economic coursework (which everyone should have!) will be helpful for a greater appreciation. It is an excellent starting point for individuals seeking to broaden their understanding of the massive field of economics and its relevance to our lives.
    One person found this helpful
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  • Reviewed in the United States on December 12, 2022
    This book just has so much in it. An overview of the whole history of economics, indeed, and delivered in a very accessible way. The details are explained right alongside their importance and the motivation for why they matter and how you've seen them in the world around us. Of course, the amount of information is too much to retain more than a vague understanding of the full contents from a simple read-through but aside from being easy to reread, its organized well and easy to reference specific points.

    Excellent overall.
    3 people found this helpful
    Report
  • Reviewed in the United States on June 6, 2020
    Being a fan of his prior work, I was excited to see that Dr. Chang has written a book on general economics. For better or for worse, the book lived up to its name. This book initially felt to me like the manual that comes with a new gadget that you should really read before using it, but you put it away because the manual has way too many steps and words. The book begins with a detailed discussion on basic concepts like capitalism, money, monopoly, and proceeds to cover different schools of economic thought. Unlike his prior books, it did feel like I really needed to take notes along the way to keep up with the broad scope and depth of the book. I probably got on and off the book several times before I got into it enough to actually finish the book.

    But just like reading a manual is often times worth the effort and gives you a better sense of how to property use your gadget, the broad and detailed discussions of the book are definitely worth the read. In ways that perhaps only he can provide, Dr. Chang gives readers an alternative take on many of the concepts that mainstream economics or the media doesn’t talk much about, even in mundane subject like the definition of GDP.
    Perhaps it shouldn’t be too surprising given his background and his prior works that Dr. Chang would provide a different view on things than mainstream economists. However, it did feel like in many parts of the book that things were a bit biased and unjust in that alternative views and interpretation of the evidence was not provided enough, especially in discussing things outside his area of expertise. For example, in discussing ow the “unholy alliance” between short-term investors and professional managers have reduced the ability of corporations to make long-term investment, Dr. Chang cites evidence that the largest US companies now payout 94% of their profits to shareholders compared to 35 to 45% in the decades past. While this is true, the book fails to mention that the percentage of publicly traded firms distributing their profits via dividends or share repurchases has actually gone down over the years. So in recent decades, the payouts are more concentrated in the largest and most mature firms while other firms are more likely to retain profits. One could argue that this is exactly what you would want in an efficient economy where the profits of the old and mature companies to get redistributed to younger firms with more potential, and may have nothing to do with the markets becomes more short-term oriented. This is one of many places in the book where more balanced view would have helped the “users” to see a broader picture.

    But ultimately, the biases in the book is what makes this an interesting read, and I would not hesitate to recommend this book to anyone interested in delving a little bit deeper into some of the common issues in economics.
    9 people found this helpful
    Report
  • Reviewed in the United States on July 25, 2016
    After hearing the author's talk on his book on BoookTV.org. I bought it. I was not disappointed in reading it. This is a most enjoyable read, full of easy to understand explanations, little asides and jokes, informative footnotes at the bottom of pages,and short bibliographical references at the end of chapters. Dr. Chang's tome is an eloquent and persuasive refutation that economics is boring or the "dismal science." He has certainly made it very interesting even though it was with some skepticism that I first cracked it open his volume. It is well worth reading for anyone who, like me did not care much for courses in economics. For me at least, they were all dismal and grim in equal measure. This book is just the opposite. It makes economics the "gay science" to borrow the title of Nietzsche's book without prejudice to the current use of that originally joyful adjective.
    5 people found this helpful
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  • Reviewed in the United States on September 12, 2024
    This is my 3rd read for Ha Joon Chang, highly recommend his books, especially this one in case you want to learn how to navigate economics, while maintaining a balanced and nuanced approach
  • Reviewed in the United States on September 4, 2014
    The ones in back cried forward, whilst the ones in front cried back...

    This small book is critical to understanding the contradictory conclusions and advice offered by our well educated and well meaning economists and financial advisers. It is well researched, well written at a high school graduate level, and thus accessible to most anyone with an interest in economics (which we all should be, because this is where we spend most of our lives). My take-away is that all the economic schools mentioned from the Marxists to the Austrian School have a piece of the puzzle, but no one has all (or even most of) the answers, and there is not one single economy, but a complicated stratification of economies in different stages of development, even within nations. This is complicated by the extremely high (and accelerating) rate of morphing and evolution of the top economic strata [one ring to rule them all?], currently the “Brave New World Order,” supranational corporationism [not corporatism], and the “Washington consensus.”

    Like the Bachman–Turner Overdrive classic _You Ain't Seen Nothing Yet_. [Think hyper artificial intelligence[AI]/big data, nano-technology, and bio-technology/GMO]

Top reviews from other countries

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  • Jaime Alfonso
    5.0 out of 5 stars Great way to understand our position in the world
    Reviewed in Mexico on February 28, 2024
    This is a very good book for people that know nothing about economics … I highly recommend
  • T. Edwards
    5.0 out of 5 stars No Non-sense take on Economics
    Reviewed in Canada on December 12, 2022
    Ha Joon Chang is the man. There's no doubt about that, and he speaks with a unadorned clarity that is a breathe of fresh air in this age of verbal shenanigans. I recommend this to any fledgeling economist, a layman who wants to know more about the economy, econ majors, really anyone who likes to spend or earn money or create value.
  • P B Ghosh
    5.0 out of 5 stars Amazingly Simple and Comprehensive
    Reviewed in India on October 3, 2024
    My interest in economics has never been a passing one. Like Kenneth Arrow, I believe any changes in matters of human behaviour in dealing with others have some economic explanations. Even so, I have had some hoary areas to understand and resolve the disconnects. I tried here and there to grapple with those questions, but to no convincing success. My insistence continued to abide, whetting further. Finally, Chang's book served me with savoury I was looking for. Great work!
  • Amazon Kunde
    5.0 out of 5 stars Sehr guter Überblick
    Reviewed in Germany on April 26, 2023
    Sehr gut, besonders das Kapitel über die verschiedenen Volkswirtschaftstheorien!
  • jemaldi
    5.0 out of 5 stars Imprescindible para tener opinion sobre temas economicos
    Reviewed in Spain on February 23, 2022
    Una explicacion muy interesante y muy critica de los concepto economicos mas importantes. Ilustrados con muchos datos