Economics Made Simple

How money, trade and markets really work

By Madsen Pirie

Published: 16/01/2012
Pages: 192

How do banks work? What does the City do? Why do prices rise or fall? Is competition wasteful? How can we create more wealth? What causes globalization and how does it affect people?

Economics Made Simple answers these and other questions, not in the way that economics textbooks do – with graphs, abstract models, jargon-ridden theory, and mathematical equations – but through narrative and lucid explanation rooted in everyday experience and common-sense intuitions.

This is a personal school of economics for anyone who has ever wanted to know how money, trade and markets really work. The study of economics has never been so enjoyable – or eye-opening.

About the author

Madsen Pirie

Dr Madsen Pirie is President of the Adam Smith Institute ( and Senior Visiting Fellow in Land Economy at the University of Cambridge. He was awarded the National Free Enterprise Award in 2010 (jointly with Dr Eamonn Butler). He frequently appears as a commentator on television and radio, and has published articles in most major national newspapers and magazines.

Madsen often addresses university and school audiences on economic and policy issues, and occasionally participates in panel discussions and speaks at international conferences. He is a graduate of the Universities of Edinburgh, St Andrews and Cambridge.




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