As Hazlitt states, economists must simply throw up their hands trying to teach anyone when the bulk of the population has not even progressed an understanding of what Adam Smith wrote in the 17th century. Reading this book should be required prior to any citizen of any country being allowed to vote. This book, along with "Innumeracy" by John Allen Paulos, are the first two I read that have led me on a journey of voracious non-fiction reading to learn more about the myths I've been told and convinced to believe. From there to Sowell and Friedman, and beyond, economics informs (well, ... should inform) politics the way mathematics informs physics.
I expected this book to be an economics lesson, based on, you know, THE TITLE. But it's just another skewed, opportunistic, the-strong - take-all worldview lecture in the same sad vein as the rich dad books. I lost a lot of respect for Mike Lowe for recommending this garbage.
Very thought provoking, will definitely change the way you look at and think about economics, especially as applied to public policy.
I wish I could give it 6 stars.
This book was originally published in 1946 with various revisions that ended in the late 1970's. This was for the American economy when:
-the middle class had purchasing power
-the U.S. was a manufacturing based economy
-there was faith in businesses taking care of employees and not shareholders
-prior to Asias rise of manufacturing
-the S&L crisis, the 'too big to fail' bailouts, .com bubble, the housing crisis., nor the various recessions since 1980, etc. that occurred after the last revision of this book, the LIBOR scandal, etc.
Are there some ideas and concepts that could still apply to today's markets? Yes but the text can be easily manipulated to fit one's arguements.
The world has changed but it seems many that believe this book is an answer to today's woes are not taking the global view.
So many choices I'm not sure!
The narration was fine. This feels and sounds like an overly simplified middle school textbook on economy.
I picked up this book on the recommendation of Mike Rowe. Mike Rowe? You say. Pitchman, realty TV star, and opera singer? Yes. And he's a pretty smart guy too. But that recommendation was misguides. This book is rife with fundamentally flawed math and logic. Those flaws dilute the message. What results is point of view supported arguments contrived to give them strength. Forget this book. Head over instead to Freakonomics.