Economics Review

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Economics ReviewAs an instructor of economics who uses this book for undergraduate classes, I would say McConnell and Brue's book is probably the best text to introduce students who may have no background or appreciation for the study of economics. This is the latest edition of the text, and each edition tries to take into account the current trends in society. It is well written and contains clear, concise analyses to examine important concepts and principles that have taken centuries to theorize and to validate. The authors also use several real world examples and case studies to help the reader apply economic concepts to business and societal problems. I still remember using an earlier edition of the authors' text when I was an undergraduate student a number of years ago. I found it meaningful and practical then , and I find it quite valuable now as a teacher. Some things never change!
I would higly recommend this text to students taking their introductory courses in economics. The material presented is quite relevant to the development of an understanding and appreciation of how humans and society satisfy their unilimited wants and needs given scarce resources and limited choices. I like to refer to it as "the philosophy of life." It never put me to sleep! No wonder why numerous academic institutions use Macconell and Brue's book as the standard text for their introductory economic courses.Economics Overview

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Fat,Forty,Fired: One Man's Frank,Funny,and Inspiring Account of Losing His Job and Finding His Life Review

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Fat,Forty,Fired: One Man's Frank,Funny,and Inspiring Account of Losing His Job and Finding His Life ReviewI had picked up this book hoping for a funny and inspiring story of someone finding himself after a job loss. Unfortunately, I found Fat, Forty and Fired to be tired and somewhat simplistic. The author came across as overly privileged and frankly, whiny. For example, gosh, he had to fly coach using some of his frequent flyer miles during a trip to Europe! And seats only reclined an inch or two! Plus they had to fire the nanny (although the wife already stayed at home). Yawn.
This is on top of short chapters and a stunning lack of detail.
It was disappointing to see how quickly he went back to some of his old ways at the end of the book. Didn't even make the swim race he had talked about for some fifty pages or so throughout the book.
Even more concerning are the rest of the reviews on Amazon. I find it hard to to see how everyone else gave this book 5 stars. But I see 13 of the 16 other reviewers have only this one review to their name. Nigel's friends and family perhaps?Fat,Forty,Fired: One Man's Frank,Funny,and Inspiring Account of Losing His Job and Finding His Life Overview

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Empire of Wealth: The Epic History of American Economic Power (P.S.) Review

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Empire of Wealth: The Epic History of American Economic Power (P.S.) ReviewForests have been cleared for all the books that have been written on American History. While a few stand out from the pack, it is harder to find one that is fresh, interesting, and informative. "An Empire of Wealth" is all of those things and I strongly recommend it to you. Instead of being a military, political, or diplomatic history, John Steel Gordon has written an economic biography of our country. Do not mistake this approach for a dry treatise on economics. Far from it, this book is full of struggle, wild success, bitter failure, dislocation from wrenching changes in the economy due to the rise of new technologies, and marshalling resources for war.
He begins with the resource rich, but hostile wilderness that the early explorers found. The British made the first permanent settlement at Jamestown in what is now Virginia. The settlers had come for gold, found mica that they mistook for gold ore, and only 38 of the 105 survived the first winter. They kept coming from England and they kept struggling until they began to grow and export tobacco. Mr. Gordon then takes us on a fast paced, and amazing journey through the nation's founding, the movement west, our major wars, depressions, and the rise (and fall) of technologies such as steam, the railroads, machine supported agriculture, banking, and international trade. He ends the book with the horrible events we experienced on September 11, 2001.
Not only is this a fun read for anyone interested in American History, it would be a fine addition to the history readings for high school or college students. I especially like the author's honesty about the good and the bad in our history without making us the bad guys or the source of all pain and suffering on the planet. The reader comes away with a richer understanding of our history and feels good about our place in the world.
The book has a particularly nice bibliography in addition to the chapter notes. The readings offered in the bibliography would enrich anyone and I also urge you to look at them and read as many as you can. There is also an index to help you find certain topics. (I am a big fan of indexes and cannot understand any modern book without one - given how easily computers can create them and allow the editor to work them into something useful. Yet, we still get books without indexes because people think they will be more popular. What I want is useful!)
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The Wal-Mart Effect: How the World's Most Powerful Company Really Works--and HowIt's Transforming the American Economy Review

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The Wal-Mart Effect: How the World's Most Powerful Company Really Works--and HowIt's Transforming the American Economy ReviewWal-Mart, one of the world's largest economies (it accounts for an astounding 2% of the U.S. gross domestic product, and in any given week, 100 million people--half the adult population in the U.S.--shop at Wal-Mart!), has taken it on the chin in recent years. John Dicker's _United States of Wal-Mart_, Bill Quinn's _How Wal-Mart Is Destroying America and the World_, and the recent film "Wal-Mart: The High Cost of Low Price," are all examples of this trend. Each of them documents Wal-Mart's low wages and benefits, its take-no-prisoners competitiveness that slashes-and-burns local business and guts local main streets, and its willingess to buy sweat-shop goods.
In his _Wal-Mart Effect_, Fishman doesn't deny the pernicious practices of Wal-Mart. But the more interesting feature of his book is his analysis of the culture that Wal-Mart has created in the United States. In a word, Wal-Mart has trained the American consumer to expect and to demand low prices, and to immediately suspect that any commodity that has a higher price tag than its Wal-Mart equivalent must be a rip-off. The Wal-Mart ethos, in other words, has replaced traditional consumer concern for high quality with low cost as the primary criterion.
This replacement of quality with cheapness is troubling enough (think of the environmental effect of buying cheap crap that quickly winds up in a landfill). But Fishman goes on to show that the new culture of low costs means that Wal-Mart must relentlessly scurry to satisfy the customer demands that its practices have created. So Wal-Mart increasingly buys off-shore sweat shop products to keep down prices, and in the process is forcing more and more American wholesellers, already struggling to survive, to shut down their U.S. operations and move overseas where labor and production costs are lower.
Fishman is careful to point out that Wal-Mart really does offer commodities--especially groceries, which Wal-Mart offers about 15% cheaper than its competitors--at lower prices, and this is no small benefit for folks who live on the economic margins (a steadily growing demographic group). But the hidden cost of the low prices is a disturbing cultural and economic transformation: a disregard for quality and the outsourcing of America.
Highly recommended.
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