Todd G. Buchholz is an internationally acclaimed economist who advises ABC News, as well as some of the world's leading investment funds. He has served as a director of economic policy at the White House and is a contributing editor for Worth magazine. Buchholz holds advanced degrees from Cambridge University and Harvard Law School and was awarded the Allyn Young Teaching Prize by Harvard University's Department of Economics.
``You would probably do just as well choosing a stock by throwing a stockbroker at a dartboard as listening to his advice‘and you would save money,'' opines Buchholz (New Ideas from Dead Economists) in this humorous version of Econ 101. Here he demystifies such terms as inflation, monetary policy, exchange rates and corporate financing and provides a concise history of economic thought from Adam Smith to contemporary supply-side economics. Formerly associate director of economic policy on President Bush's Economic Policy Council and now president of an international consulting firm, Buchholz argues against adopting a Canadian-style national health plan or forcing employers to provide medical coverage. Instead, he says, individuals should be required to obtain their own, to discourage frivolous expenditures. Fortune Book Club selection. (May)
The news contains major stories about various aspects of the economy, from the stock market to inflation to GATT. For the nonspecialist, the economic concepts involved may be daunting. According to Buchholz, "most people have found economics to be like a bad steak: dry, tough, and tasteless." Buchholz, who has served as associate director of economic policy and deputy executive secretary of the White House Economic Policy Council, here aims to demystify economics. Using contemporary examples to explain key economic principles, he presents an uncomplicated and clear analysis. The book is divided into five parts: macroeconomics, microeconomics, international economics, business and individual investment, and history of economic thought. The appendix lists "Greatest Hits of Economics," including the five top economists; a helpful list of suggested readings is included. Recommended for public libraries as a complement to the author's previous New Ideas from Dead Economists: An Introduction to Modern Economic Thought (NAL, 1989).-Lucy Heckman, St. John's Univ. Lib., Jamaica, N. Y.
"A painless, even entertaining, way to learn the basics. Buchholz knows his stuff."--Peter Passell, Editor, The Milken Institute Review
"[A] humorous version of Econ 101."--Publishers Weekly "An
interesting overview of the economics world... manages to combine
sound economics with an entertaining writing style."--Foundation
for Economic Education (FEE) Praise for New Ideas from Dead
"If you read only one economics book this year, read this one."--Larry Summers "Outstanding... fun to read."--The Wall Street Journal "This wide-ranging survey of economic thought combines a witty and clear exposition with a high degree of accuracy."--Milton Friedman "Precious few books... on any academic subject succeed at being witty and amusing. This is one of them. Bravo!"--William F. Buckley, Jr.