One positive side-effect of the recent financial market meltdownthat toppled giant, century-old institutions and cost millionstheir jobs is that it created a strong desire among many Americansto better understand how the U.S. economy functions. InThe Little Book of Economics, Greg, Ip, one ofthe country's most recognized and respected economicsjournalists, walks readers through how the economy really works.Written for the inquisitive layman who doesn't want toplow through academic jargon and Greek letters or pore over chartsand tables, The Little Book of Economics offersindispensible insight into how the American economy works -or, doesn't. With engaging and accessible prose, the book* Provides a comprehensive understanding of each aspect of oureconomy from inflation and unemployment to international trade andfinance* Serves as an insider's guide to the people andinstitutions that control America's economy such as theFederal Reserve and the federal budget* Explains the roots of America's currenteconomic crisis and the risks the country faces in its aftermath,such as stratospheric government debt, while offering advice onovercoming these threats* Walks readers through the basic concepts andterminology they need to understand economic news* Punctures myths and political spin from both the leftand the right with candid and often surprising insightA must read for anyone who wants a better grasp of the economywithout taking a course in economics , The Little Book ofEconomics is a unique and engaging look at how the economyworks in all its wonderful and treacherous ways.

Foreword.Introduction.Chapter One The Secrets of Success.How People, Capital, and Ideas Make Countries Rich.Chapter Two Economic Bungee Jumping.Business Cycles, Recessions, and Depressions . . . Oh My!Chapter Three In-Flight Monitor.Tracking and Forecasting the Business Cycle from Takeoff toLanding.Chapter Four Labor Pains.Employment, Unemployment, and Wages.Chapter Five Fire and Ice.Warning: Inflation and Deflation Are Toxic to Your EconomicHealth.Chapter Six Drop the Puck!The Globalization Game Is Here Whether We're Ready or Not.Chapter Seven All the World's an ATM.Knitting Global Markets Together.Chapter Eight All the President's Men.They Don't Control the Economy But They Sure Do Try.Chapter Nine The Buck Starts Here.The Federal Reserve's Amazing Power to Print and DestroyMoney.Chapter Ten White Smoke over the Washington Mall.The Making of Monetary Policy and the Fine Art of FedWatching.Chapter Eleven When the World Needs a Fireman.America's Lender of Last Resort and the World's CrisisManager.Chapter Twelve The Elephant in the Economy.What the Government Giveth and Taketh Away.Chapter Thirteen Good Debt, Bad Debt.How Government Borrowing Can Save or Destroy an Economy.Chapter Fourteen Love-Hate Relationship.The Bipolar Financial System--Essential for Economic GrowthBut Sometimes It Goes Nuts.Chapter Fifteen A Species of Neuralgia.The Multiple, Recurring Causes of Financial Crises.Acknowledgments.About the Author.Index.