How the Economy Works

In this book, Cambridge economist Ha-Joon Chang explains in an engaging and accessible way how the global economy works in real conditions. Chang offers readers ideas that cannot be found in economics textbooks, and does so with a deep understanding of history, wit, and a slight disdain for traditional economic theories.
Unlike many economists who offer a single perspective on their subject, Chang examines numerous theories – from classical to Keynesian – showing the advantages and disadvantages of each, and convincingly demonstrates that there is no single correct approach to explaining how the economy functions. Instead of one 'correct' theory, the author offers a toolkit that will help you better understand how the modern economy works in a global world where everything is interconnected.
Through the future of the European currency, inequality in China, the state of industry in the USA, and other details, you will learn how the global economy works and why it affects your life.