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An excellent lay-oriented primer on economics that explains the basics in simple language that relates them to ordinary daily life. An excellent way for the layperson to learn about economics and government economic policies.
Demystifying Economics: Expanded Third Edition is a survey of basic economics written in simple language with the use of concrete examples that relate economics to ordinary daily life. The content includes most of the topics covered in an introductory college level economics course, but the material is presented in a very reader-friendly format. Dr. Karen S. Conway of the University of New Hampshire economics department described the first edition of this book as follows: Demystifying Economics does an amazing job of explaining the basics...and relating them to real world issues and problems...an excellent way for the layperson to learn about the workings of the economy, a superb reminder of what the study of Economics is all about. Dr. John A. Miranowski, of the Iowa State University economics department said this about the first edition. Demystifying Economics provides an excellent lay-oriented primer on economics in our everyday lives. I cannot think of another effort to write such a book that has been nearly so successful. In this third edition, the author has restructured the organization to make the flow of information smoother and more connected, but he has placed a high priority on maintaining the clarity of presentation that made the previous editions so popular.
"Still most Americans did not realize that the public debt had increased by 900 percent just since 1981. Nor did they know that the total interest on the national debt was more than $1 billion per day...Approximately 44 percent of the publicly held debt in 2006 was held by foreign investors. About 66 percent of that 44 percent was held by the central banks of foreign countries with most of it being held by the central banks of China and Japan."