Economics for Everyman

September 1, 2016

I’ve always had an interest in getting to know the fundamentals of economics. I’ve even bought a number of introductory books over the years to educate myself. Unfortunately I found them all a bit dull and gave up. However I’ve always been on the outlook for something accessible as it’s clearly an important subject.

All this was heightened by Brexit. I followed articles and opinions in a variety of media (hoping to develop an informed and balanced viewpoint) but ended up confused especially as many of the competing arguments were quite direly presented (here).

I often think this is clumsily deliberate with a blatant diversion to emotional triggers and kneejerk responses (which doesn’t say much for the politicians estimates of the voting public). If more people were better informed, it must be a good thing.

The above video by Ha-Joon Chang is a welcome relief (‘95% of economics is common sense’). Well made and very instructive and gives just enough info to tempt a longer investigation.

‘Economics is for everyone’, argues legendary economist Ha-Joon Chang in our latest mind-blowing RSA Animate. This is the video economists don’t want you to see! Chang explains why every single person can and SHOULD get their head around basic economics. He pulls back the curtain on the often mystifying language of derivatives and quantitative easing, and explains how easily economic myths and assumptions become gospel. Arm yourself with some facts, and get involved in discussions about the fundamentals that underpin our day-to-day lives.

A recent book of his is: Economics: The User’s Guide. It gets excellent reviews but is still a daunting 528 pages! I’ll order it from my local library (partly to help keep it going and partly because I’m trying to buy less books, the house is full of them).

Background on Ha-Joon Chang:

“I was born in Seoul, South Korea, on 7 October, 1963 (there are stories about what life was like in South Korea in my youth in the Prologue of my book, Bad Samaritans). I came to the UK as a graduate student at the Faculty of Economics and Politics, University of Cambridge in 1986. I earned my PhD in 1992. I have been teaching economics at the Faculty of Economics (as it is called now) and the Development Studies programme at the University of Cambridge since 1990.”

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