Overview

Why do economies succeed? Why do they fail? What’s the best way to heal a failing economy? These may be the most important questions our generation faces — and few questions are more ridden with myths, confusion, or poor thinking. In The Econosphere, renowned economist Craig Thomas reveals what really governs money and work, and shows how to make them work for everyone. Thomas illuminates the economy for what it truly is: not a boring collection of statistics, but a living, breathing, holistic organism every bit as remarkable as the natural biosphere we’ve come to recognize. Thomas reveals how the Econosphere provides for humans, protects them, and allows them to live their lives to the fullest... how it can be disrupted by those seeking to improve it in misguided ways... how to love it, protect it, and shield it from harm — and how it will love and protect you in return. You won’t just learn how the Econosphere functions: you’ll learn how to use that information to make better personal decisions, achieve more success, and add more value to your life and those around you. Thomas illuminates the laws that govern planning, saving, investing, budgets, insurance, expenses — every economic decision you make. Along the way, he presents the Econosphere as it’s never been seen before: a global organism capable of choreographing billions of performers with breathtaking precision, each playing their own unique role to make life better for everyone.

Full Product Details

Author:   Craig Thomas
Publisher:   Pearson Education (US)
Imprint:   Addison Wesley
Dimensions:   Width: 10.00cm , Height: 10.00cm , Length: 10.00cm
Weight:   0.100kg
ISBN:  

9780133383973

ISBN 10:   0133383970
Pages:   192
Publication Date:   08 February 2013
Audience:   General/trade ,  General
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Acknowledgments . . . xi About the Author . . . xiii Preface . . . xv Chapter 1 Born with a Loaf of Bread . . . 1 How the World Prospers . . . 1 We All Share the Same Goal: Maximize Happiness . . . 2 Love and Protect Your Econosphere . . . 5 The Marketplace Is Perfect: It Is Information That Is Imperfect . . . 6 You Live in the Econosphere . . . 10 Can You Be Green About Your Econosphere? . . . 11 The Econosphere’s Tough Love . . . 15 What Happens When We Try to Stop Change? Here’s Your (1952) Buick! . . . 17 The Protection Racket . . . 19 The Kinder, Gentler Econosphere . . . 21 Chapter 2 Where Does the Economy Come From? . . . 23 What Is a Job, Anyway? . . . 25 All Work and No Play Does Not Maximize Utility . . . 28 The Econosphere Is Merely and Mundanely the Sum of Its Parts . . . 28 Remember When China and India Were Polluting Their Econosphere? . . . 31 They Don’t Make Big Heavy Chandeliers Like They Used To . . . 32 Chapter 3 A Lifetime of Opportunities . . . 37 1964: Bundles of Economic Potential and Joy . . . 38 Place: The Product of Generations of Economic Incentives . . . 39 The Occupation of Infants? Being Cute and Cuddly . . . 42 1970: A Little Bit Older, A Little Bit Wiser . . . 45 Of Cooties and Other Social Bugaboos . . . 47 1980: Charlotte and Milton Sitting in a Tree, K-I-S-S-I-N-G . . . 50 1982: Milt, Why Weren’t You in Class This Morning? . . . 51 1998: Charlotte the Yuppie and Milt the Townie . . . 53 2000: Tech-Wreck in Bigton; Renovation Boom in Pickleboro . . . 56 2002: Home Again . . . 58 It’s Not Just Candy and Flowers; There Is Math Involved . . . 59 Chapter 4 Why’s My Piece of the Pie Smaller Than His? The Gift of Inequality . . . 63 We’re All Utility Maximizers; Just Some Are Better at It Than Others . . . 65 It’s Not a Zero-Sum Game . . . 66 What Are the Sources of Dissimilar Wealth? . . . 70 How to Consider Inherited Wealth . . . 71 Earned Wealth . . . 74 Those Either Not So Hungry or Not So Talented . . . 76 Perfect Market, Imperfect Information . . . 77 What to Do About Inequality . . . 81 If Not Taxes, Then What? . . . 88 Barring Incremental Policy, What Can the Individual Do? . . . 91 Make the Econosphere Work for You! . . . 92 Chapter 5 The Firm as a Coalition . . . 95 Slave to the Corporate Machine . . . 96 A Firm Is Serendipity . . . 98 My Job Is Nothing Like Woodstock . . . 101 You Are a Specialist! . . . 104 But How Should We as a Society Look at a Firm? . . . 105 Sparkle and Fade . . . 110 Chapter 6 Stupid Policy Tricks . . . 113 Why So Cynical? . . . 114 Protector of Property Rights . . . 117 The Government Is Nelson . . . 120 Stimulus . . . 123 I Am the Sun God! . . . 126 Council of Wise Men . . . 127 Redistribution: In Search of “Fairness” . . . 131 Barriers to Trade and Prosperity . . . 134 Chapter 7 Ten Ways to Maximize Wealth and Happiness for Yourself and Everyone Else . . . 139 1. Know That It All Comes from You . . . 140 2. Love Your Environment; Be a Price Hugger . . . 142 3. See No Thieves . . . 145 4. Live Without Borders . . . 146 5. Many Brains Working on Small Problems Beat Few Brains Working on Big Problems . . . 148 6. Solve Your Information Problem . . . 150 7. Preach the Word . . . 152 8. Have a Healthy Fear of Your Public Servants . . . 154 9. Rise Above the Fads . . . 156 10. Spend Your Lone Raw Material Wisely . . . 157 Index . . . 161

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Author Information

Craig Thomas is a veteran private-sector economist, working today as Senior Economist at one of the largest financial services firms in the United States. Among his previous posts, he served as Director of Research for Citi Property Investors, Citigroup’s private equity real estate arm, developing information that drives billions of dollars of investment decisions. Specializing in regional, macro, and real estate economics, he has modeled and analyzed myriad markets and asset classes, presenting his findings worldwide. Unlike most serious economists, he is also a gifted communicator. His economics columns quickly gathered an avid readership of more than 30,000 economists and noneconomists who appreciate his unique ability to explain complex theory in a simple and entertaining way.

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