Summary Of Naked Economics

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The book I read over this summer was Naked Economics: Undressing a Dismal Science by Charles Wheelan. I actually enjoyed the book and it was a very informational book about the overall importance of economics and how to understand them. Over all 12 chapters, Wheelan went into full description of how several aspects of microeconomics makes a difference and modern day examples of uses of economics worldwide. The first three chapters were basically an introduction to the world of economics, which was really useful in giving me a glance at what I will possibly be learning in my upcoming AP Economics course.
Chapter 4 is all about the government: how it is beneficial and what is its role in economics. The start of this chapter is him describing …show more content…
Starting off I really focused in on when Wheelan explained that, “Human capital is the sum total of skills embodied within an individual: education, intelligence, charisma, creativity, work experience, entrepreneurial vigor, even the ability to throw a baseball fast.” (pg. 127). I never really heard the term human capital, so I appreciated that he took the time to define the term and really explain the term over several paragraphs. I also appreciate how he linked the importance of human capital to introduce the meaning of productivity and its importance. Because of this chapter I really understand that the more productive I am, the more insight I will have and the richer I will …show more content…
149) This chapter went into great detail about the four simple needs of financial market; raising capital, storing, protecting, and making profitable use of excess capital, insuring against risk and speculation. After reading this chapter, it is now clear that when I grow up, to reach these financial market need that I must take risks, save and invest repeatedly. I am happy that I read this chapter because it gave me some insight on how to follow my financial plan and to keep up with it when I become an adult.
Chapter 8 really highlights that being small is not always a disadvantage. He flat out explains that, “When it comes to interest group politics, it pays to be small.” (pg. 179). I appreciated how once again Wheelan went into great detail and gave plenty examples to help his readers understand why well organized small groups are so successful even though we live in a society where bigger is

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