Demystifying Economics The Book That Makes Economics Accessible to Everyone--Expanded Second Edition

Written in simple language and using concrete examples that relate economics to ordinary life, offers a lay-oriented survey of basic economics.

"On a recent nationwide test of basic economic principles, two thirds of the 1,085 high school students who took it did not even know that the stock market is where people buy and sell shares--never mind that investments can tumble. Worse, few understood that scarcity drives up prices or that money loses value in times of inflation--two consumer fundamentals. Average grade: F"

U.S. NEWS & WORLD REPORT--June 14, 1999 The above article refers to a study conducted by Louis Harris & Associates on behalf of the National Council on Economic Education. The survey is based on interviews with a national cross-section of 1,010 adults aged 18 and over and a representative sample of 1,085 high school students. The results of the survey are shocking. On average, adults got a grade of 57 percent for their knowledge of basic economics compared to an average score of only 48 percent for high school students. Only 54 percent of adults and 23 percent of high school students knew that if the government spends more than it collects there is a budget deficit! The American public must become better informed about economic issues. Good economics and good politics are often in direct conflict, and when politicians have to choose between the two, they almost always choose good politics. This book makes basic economics accessibe to everyone. It is written in simple language with the use of concrete examples that relate economics to ordinary daily life. Welcome to the world of economic literacy!