The World Around Me

Author Wheelan writes, "Life is about trade-offs, and so is economics." Indeed, so is Naked Economics. This book promises to be a good introduction to economics for the layman. Throughout the book, the author uses easy-to-understand language and vivid examples to illustrate his points in strategic places maintaining a sense of lightness with the readers in reading the material. Here is a summary of each of the 12 Chapters of the book Naked Economics: Undressing the Dismal Science by Charles Wheelan.

Also, there is such a thing called supply and demand, and the consumer chooses what is needed or wanted. This article also signified the evolution of the English economy of moving away of mercantilism capitalism. Both the articles had a significant impact on the societies of each state.

As we progress further down the road to prosperity there is always a time before or after that knocks us down and shows either the best or the worst of society. With that said society to an

READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover.

A nation's success and standard of living is determined by its economic growth, which is measured by percentage in real GDP. Capitalism is an economic system that yields strong incentives for rapid increases in output of commodities. The most advanced capitalist economies have been more successful in raising productivity, as a result of their low unemployment rates and ability to adjust to new and improving economies. Developed countries in general, contain a lot of natural resources, which can be used as income. As stated in Sarah Ahmed’s book “Why Happiness, Why Now?”, developing countries are shown to be happier than undeveloped ones (3). Would this supposed happiness be due to the progression of their country? A country’s growth and advancement

READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover.

Likewise and the topic of this paper Solomon provides a thorough discussion of the problems of the present global economy. In his essay Solomon provides three mind-wrenching questions that questions and supports his methods of economic reform. The first question of “is it possible to engage in the pursuit of wealth without succumbing to greed and selfishness?” brings the topic of morality when it comes to wealth (108). Sallie McFague brings an argument stating that human beings are people filled with emotions of self-interest and will do whatever it takes to become wealthy. In the grand scheme of things this innate self-interest that is within people makes it extremely tough for countries to follow certain Jewish laws that he provided. McFague’s solution of moving towards an ecological economic system makes it tough on countries as well because it will force them to forget about their self-interest and learn to understand that they are dependent upon each other. McFague states, “ecological economics claims we

At the time that I am writing you this letter, horrendous things are happening to the black community, these things got me thinking about you and your future. Just like the novel Between The World and Me, Coates wrote a letter to his son and the world to enlighten them about the life in America and America true history. “I write to you in your fifteenth year. I am writing you because this was the year you saw Eric Gardner chocked to death for selling cigarettes, because you know that Renisha McBride was shot for seeking help, that john Crawford was shot down for browsing in a department store. And you have seen men in uniform drive by and murder Tamir Rice, a twelve year old child whom they were oath-bound to protect. And you have seen men in the same uniform pummel Marlene Pinnock, someone grandmother, on the side of the road. And you know now, if you did not before, that the police departments of your country have been endowed with authority to destroy your body”. (Coates 9), the author just explained to his son, how horrible life is for a black person living in America. He listed all these incidents that happened in the last two years and none of these people family got the justice that they deserve. I really don’t, maybe staying in Haiti would have been safer for you. In Haiti everyone is the same race, I am not going to get pulled over in Haiti because another black thinks that because I am black, I must be a criminal or doing something wrong. Therefore in Haiti you

Economics can be applied in many situations where you wouldn’t normally expect it found. In “Freakonomics”, by Steven D. Levitt and Stephen J. Dubner, the authors attempt to reveal what is happening behind the curtain of modern day life by comparing what you would think are two completely different people or subjects, and they relate these seemingly uncommon topics to more sophisticated economic concepts. The authors initially claimed that there was no theme, but after reading the book I have realized that there are many misunderstandings in the standard wisdom that we know due to the fact that people usually do not look into the motives of a given situation to uncover the truth.

As Bobbie Mason, Jonathan Safran Foer, and Kirkpatrick Sale explain in their writing how progress has many disadvantages that affects an individual ultimately affecting society as a whole. Therefore, progress has created a huge gap between an individual and their cultural roots while bringing them ever closer to greed. The number one reason an individual wants money is because it enable an individual to become independent but it destroys everything (nature, animals, and relationship). Progress has enabled people to expand their knowledge but it has isolated everyone into their own individual

In the eyes of the authors, Steven D. Levitt and Stephen J. Dubner, economics is not seen as a monetary subject but rather a subject with the ability to gain answers through the utilization of interesting, yet out of the ordinary questions. These “out of the ordinary questions” can be seen as the backbone from which the collaboration was written. Levitt and Dubner structured the novel in this way to explore and reveal “the hidden side of everything.” They focus on the incentives behind people’s motives in all different aspects of society—from sumo wrestlers to crack dealers—and connect the surprising similarities with each other. After reading what Levitt and Dubner had to say, I established that the authors’ goal in creating such a novel was

One of the issues that economists fail to discuss, then, is the fact that market-oriented economics is merely an artifact of our own social structure and that the grounding concepts of economics are quite different. Indeed, the grounding concepts of economics deal with the fact that people need to produce food, shelter, and clothing for their survival and that "economics" is born within the formation of any arrangement to solve the survival problem. The essential factors are production and distribution by and within the community. Economics, in other words, is part of the culture of any surviving community.

Since the early days of the United States, the Founding Fathers and other brilliant minds sought ways to understand and make sense of the inner workings of society and the economic market. Out of the many thinkers and developers of that time period, perhaps none made so great an impact on American society as the Scottish contemporary philosopher and political economist, Adam Smith—who is most known for his influential work, An Inquiry into the Nature and Causes of the Wealth of Nations, By the early nineteenth century, other streams of economic theory emerged from various individuals who were also influenced by the ideas of Smith. Some of these individuals included David Ricardo, Karl Marx and later John Maynard Keynes and Milton Friedman—each of whom contributed their own ideas on economic activity. However, it was Smith’s ideas on capitalism and his laissez-faire approach to free markets that have transcended other economic theories and continue to impact American economic thought to this day.

Erik Brynjolfsson once said “The key to growth? Race with the machines”. Erik stated this in an argument against Robert Gordon. The two of these wise men had discussed innovation and had major differences. Robert believed that innovation would have an end, while Erik said growth would continue as long as the people kept up with it the innovations. I agree with Erik, because growth does not end; and it can continue as long as people race with the new productivity and don’t allow it to take over.

One topic subject to never-ending debate that is reviewed, revised, then and disputed among scholars, is the market and the economy. In the book, "The Mind and The Market" by Jerry Muller (2002), he discusses the different viewpoints of scholars about capitalism in the market and the influence society holds on it. This writing is comprised of summaries of several reviews from a variety of authors, which will include their viewpoints, their criticism, and an overall review from Muller 's work. These authors include Brian Fox, Patrick Murray, Charles Tilly, and Fritz Ringer. Each author originates from respected and prestigious journals from different universities, programs, and other education systems. All intellectuals are experts in their field of study with a background in either philosophy, history, or economy, making their viewpoints meaningful, insightful, and relevant. Following the summary of each review will be a comparison and contrasting piece, continuing into an evaluation addressing if they captured the book in an appropriate way. Concluding the essay will have an input of my own personal review of the book. As shown, the reviews vary with their personal opinions regarding the positives and negatives of Muller 's work.