This engaging text continues to set the standard for clear, balanced, and thorough coverage of the principles of economics. Packed with intriguing pop culture examples, it bolsters student interest by illustrating the unexpected places economics occurs, and how economic forces link events to our lives.
Economics is a lot like eyeglasses. It turns fuzzy picture into a clear one and often makes the invisible visible. James Buchanan, a Nobel Prize winner in economics, said that "what a science does, or should do, is simply to allow the average man… to command the heights of genius. The basic tools are simple principles, and these are chained forever to the properly disciplined professional. Without them, he is a jibbering idiot, who makes only noise under an illiusion of speech.
Roger A. Arnold
Roger Arnold is the chief economist for ALM Advisors, a Pasadena, California-based money management firm specializing in income-generating portfolios. Concurrent with his other business responsibilities, Arnold was a radio talk show host for 15 years. He focuses on behavioral economics and chaos theory, better known as the "butterfly effect." He explains the relationships between political, economic and social systems, and how they are all reflected in the financial markets -- stocks, bonds, commodities, currencies and real estate.