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Article: Economics laid bare.(Book Talk; Naked Economics: Undressing the Dismal Science)(Book Review)
- Article from:
- The American Enterprise
- Article date:
- October 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 The American Enterprise, a national magazine of politics, business and culture (TEAmag.com). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Naked Economics: Undressing the Dismal Science
By Charles Wheelan
W. W. Norton, 288 pages, $25.95
When I Tell people I work in the Federal Reserve System, they often joke, "Great. Can you print me some money?" And then comes the serious part: "I don't really know much about economics. It seems like a foreign language to me."
This is unfortunate, but understandable. Economics has become highly mathematical. Even Milton Friedman, whose work did much to establish economics as a "positive science," admits that he has trouble keeping up with the increasingly quantitative literature. In an interview with Reason magazine, he described the new ...