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Everyman’s Dictionary of Economics, the third volume of The Collected Works of Arthur Seldon, translates the often obscure jargon and technical terminology of economics into direct, plain English understandable by both the academic and the layperson. The most abstruse topic becomes clear as he conveys the sense in ordinary language, without loss of meaning through oversimplification.

Everyman’s Dictionary of Economics covers a wide range of economic thought and includes every relevant term that the average person might encounter in a written or other treatment of the subject. In addition to conveying a sense of how economic thought has evolved over the centuries, the Dictionary stimulates and challenges readers in its questioning of conventional wisdom about government intervention and manipulation of economies. It too has “stood the test of time”; nearly thirty years after the second edition and forty years after the first, this book still engages readers—economists and nonprofessionals alike.

Everyman’s Dictionary of Economics, Volume 3 of The Collected Works of Arthur Seldon, is an indispensable reference for laypeople and for academics.

Arthur Seldon

Dr Arthur Seldon CBE (1916-2005) was joint founder president, with Ralph Harris, of the Institute of Economic Affairs, where he directed academic affairs for 30 years.

He studied at the London School of Economics where Arnold Plant and Lionel Robbins deepened his interest in classical liberalism and Friedrich Hayek introduced him to Austrian Economics. He received an honorary degree in 1999 from the University of Buckingham.

• Seldon was Vice president of the Mont Pelerin Society (MPS), whose past presidents include von Hayek and Milton Friedman.

  For over thirty years from the late 1950s Arthur Seldon was the Editorial Director of the London-based Institute for Economic Affairs, where his publishing program was one of the principal influences on governments all around the world, persuading them to liberalize their economies.

• Arthur Seldon was a prophet of what came to be called Thatcherism. The Thatcherite revolution of the 1970s and 1980s had many roots, but one was certainly a sea change in the intellectual climate of the times, and Seldon played a huge role in that sea change.