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“Bravo, Charles Wheelan, for doing the impossible: making the study of economics fascinating, comprehensible, and laugh-out-loud funny.”
- Deborah Copaken Kogan, author of Shutterbabe: Adventures in Love and War

“I recommend this book to anyone who wants to gain an understanding of basic economics with little pain and much pleasure.”
- Gary Becker, 1992 Nobel Prize winner in economics

Chapter Page
Foreword
by Burton G. Malkiel ix
Introduction xvii
Acknowledgments xxvii
1. The Power of Markets: Who feeds Paris? 3
2. Incentives Matter: Why you might be able to save your face by cutting off your nose (if you are a black rhinoceros) 31
3. Government and the Economy: Government is your friend (and a round of applause for all those lawyers) 57
4. Government and the Economy II: The army was to get that screwdriver for $500 83
5. Economics of Information: McDonald's didn't create a better hamburger 108
6. Productivity and Human Capital: Why is Bill Gates so much richer than you are? 131
7. Financial Markets: What economics can tell us about getting rich quick (and losing weight, too!) 154
8. The Power of Organized Interests: What economics can tell us about politics 182
9. Keeping Score: Is my economy bigger than your economy? 198
10. The Federal Reserve: Why that dollar in your pocket just a piece of paper 225
11. International Economics: How did a nice country like Iceland go bust? 250
12. Trade and Globalization: The good news about Asian sweatshops 277
13. Development Economics: The wealth and poverty of nations 302
Epilogue: Life in 2050: eight questions 325
Notes 337
Index 351

International bestseller

"Clear, concise, informative, [and] witty." ―Chicago Tribune

At last! A new edition of the economics book that won’t put you to sleep. In fact, you won’t be able to put this bestseller down. In our challenging economic climate, this perennial favorite of students and general readers is more than a good read, it’s a necessary investment―with a blessedly sure rate of return. This revised and updated edition includes commentary on hot topics such as automation, trade, income inequality, and America’s rising debt. Ten years after the financial crisis, Naked Economics examines how policymakers managed the worst economic crisis since the Great Depression.

Demystifying buzzwords, laying bare the truths behind oft-quoted numbers, and answering the questions you were always too embarrassed to ask, the breezy Naked Economics gives you the tools to engage with pleasure and confidence in the deeply relevant, not so dismal science.