Spin-Free Economics: A No-Nonsense Nonpartisan Guide to Today's Global Economic Debates

by Nariman Behravesh

Book Overview

With technology and globalization advancing at breakneck speed, the world economy becomes more complex by the day. Activists, politicians, and media enablers--conservative and liberal, left and right, informed and just plain wrong--consistently seize this opportunity to present woefully simplistic explanationsand hype the latest myths regarding issues affecting the economy. Their purpose is not to educate but to advocate and, in many cases involving...

• Format: Hardcover
• Language: English
• ISBN: 007154903X
• ISBN13: 9780071549035
• Release Date: October 2008
• Publisher: McGraw-Hill Companies
• Length: 384 Pages
• Weight: 1.50 lbs.
• Dimensions: 1.4" x 6.4" x 9.1"

Customer Reviews

Great Summary of Mainstream Economic Thought

Behravesh covers the general consensus of economists on many hot button issues including health care, energy policy, immigration, tax levels, education, minimum wage, monopolies, social security, and many others. The book is written in an interesting and readable way. Behravesh also explores many claims by both parties around the 2008 election cycle which are at odds with the views of economists. I didn't agree with everything in this book (especially the cheerleading for the federal reserve). However it is fantastic as a resource for better understanding the current economic consensus on many popular issues.

Illuminating and truly "spin-free"

Like many readers, I have had trouble understanding the many policy nuances associated with the current economic crisis. Glancing at the book, I doubted whether it could really be "spin-free". We hear so much partisan rhetoric on the mainstream news channels masquerading as objective. I noted, however, that the book was recommended by the both the non-partisan Congressional Budget Office and by Harvard economist N. Gregory Mankiw. So I picked up a copy. I'm pleased to say that "Spin-Free Economics" is an excellent, eye-opening primer on a wide variety of economic front-burner issues. It is clearly written and conveys information rapidly. It is, indeed, as free of spin as one could hope for. Idealogues on the Right and the Left will find some conclusions irritating. For example, Behravesh shows that there is little correlation between illegal immigration and job loss, and that while health care for illegals approaches $9B annually, we spend $12B combating it. He recommends a simplified guest worker program to accommodate seasonal labor demand. At the same time, he shows that income taxes penalize positive behavior, and if taxation is necessary, so-called "sin taxes" (consumption taxes) are preferable to income tax. Similarly, the author shows that the Earned Income Tax Credit has been far more beneficial to poor families than welfare transfer payments. Behravesh explains why Europe exhibits far slower growth and much higher unemployment than the US. Other topics include Deregulation, which can be very effective if implemented intelligently, or disastrous if implemented poorly. He shows how technology fuels job creation rather than unemployment. He recommends, on many occasions, that policies designed to alleviate the pain of displaced workers should "protect workers, not jobs". Similarly, the author shows that Globalization has helped alleviate poverty in emerging markets, and that direct aid to developing countries has been very unsuccessful, even at times harmful. Most importantly, Behravesh addresses the common misperception that "for every economist, there is an equal and opposite economist". He punctures that myth by examining a survey of 1000 top economists on a host of economic issues. It shows that economists do largely agree on many points. The reason we have perceive that economists have no consensus is because the media often pits a competent, mainstream economist against a fringe economist in order to create drama and "balance". This has the deleterious effect of convincing the public that economic conclusions are unattainable. Far from it. These are just a small sampling of the topics addressed in the book. Throughout, the author uses charts, diagrams, and case studies to analyze problems and promote sensible policies that can solve them.

Takes away the politics as it considers how modern economics affects everyone

The world economy is becoming increasingly more complicated and SPIN-FREE ECONOMICS: A NO-NONSENSE, NONPARTISAN GUIDE TO TODAY'S GLOBAL ECONOMIC DEBATES takes away the politics as it considers how modern economics affects everyone. From effects of immigration and unemployment to considering regulation in the face of economic crisis and policies that influence and possibly harm world markets, SPIN-FREE ECONOMICS is outstanding reading both for general-interest audiences interested in global economics and for college-level business students debating the economic impact of globalization processes.

A Wonderful Book!

So, I hear people say things all the time like "The rich get richer, the poor keep getting poorer". Is it true? This book explains: No. I've talked to people who are positively PANICKED that we will suddenly run out of oil, causing an immediate global recession. Is it likely? You can find out here (hint: no). Is there more poverty now than 50 years ago in the U.S.? (No, far less). How about worldwide? (50 years ago over half the world was in poverty, it's now closer to 20%). These are fascinating facts to anyone who is trying to sincerely sort through political jabber. The book provides facts and opinions along with the reigning principles behind the tidbits. I loved this book because I'm not an economist, yet I hear claims about the economy all the time. I've never taken Econ 101. So I got some really insightful understanding from this book, allowing me to look at issues from a different point of view. It's written at a high level, summarizing issues, with very simple charts and concepts. There may be other economists who quibble with some details of Dr. Behravesh's opinions, even in reviews online. But academics often disagree about details, while conceding that the bulk of what was said is correct. I have heard Dr. Behravesh speak about economics - he tours the world to consult for businesses who want to understand possible future economic trends. He is highly skilled in the ability to summarize and explain current economic trends and thinking. Behravesh has been rated consistently in the very top few by various newspapers (USA Today and Wall Street Journal) for the accuracy of his predictions. Definitely worth reading!

Wonderful introduction to economic policy

I was shocked by how much I liked this book. I think of it as a kind of contemporary *Capitalism and Freedom* (Milton Friedman), although it comes across as less partisan and the coverage is much more global. I agreed with almost everything the author said and I thought the framing was effective and spot on just about all the time. Many economists may already know too much to be the appropriate audience here (but many still need this book), but if you wish to give someone an economics book as a gift, or as an introduction to thinking about economic policy, here you go. I'm still astonished at how remarkably good this book is and yes I did read it all the way through. Greg Mankiw wrote a very nice blurb for it. Tyler Cowen