Navigate the economy with this insightful new book
The world is awash with economic information. Governments release reports. Pundits give their interpretation on television. And the stock market may go its own way, confusing everyone. How can you better understand what it means for you?
Big Picture Economics, a new book by award-winning columnist and futurist Joel Naroff and veteran journalist Ron Scherer, says the thread that ties everything together is "context."
The authors show how consumers, business, the Federal Reserve, and government take into account what's going on around them to make critical decisions like buying new products, building new factories, changing interest rates, or setting budget goals. The book provides a clear roadmap to understanding the whole story behind the global economy.
Big Picture Economics helps readers understand how context impacts decisions and decision makers.
The Federal Reserve and Congress in formulating economic policy
Consumers in a shopper nation and what makes us buy or not buy
Corporations making decisions on whether to build new factories and buy other companies
The federal budget that must deal with complex issues, including the reduction of health care spending
A simple test for tax cuts or increases: will they help the economy grow?
Where to produce and where to sell in a global economy that is more like a Mobius strip than a flat world
International events that can ripple through the economy and ultimately affect workers in the Midwest
Technology, such as intelligent drones to wearable computers, are changing the future
Experts laud the book for its perceptive insights:
"It all sounds like common sense, but it is actually based on a close, expert reading of economic history and what that history implies for the future. Read this book to become a more educated judge of economic policy."
—Robert Moffitt, Krieger-Eisenhower Professor of Economics at Johns Hopkins University
"Naroff and Scherer show how seemingly unrelated things like an upgrade of the Panama Canal, a Tex-Mex restaurant's menu change, or how many Americans are overweight turn out to be intricately linked to our daily experiences. What brings the book to life is the authors' focus on these hidden interconnections."
—Brendan Conway, blogger and columnist, Barron's
Table of Contents
- Cover Page
- Title Page
- Chapter 1: Introduction to the Economics of Context
Chapter 2: The Federal Reserve, Congress, and the Use of Context in Economic Policy *
- Public Policy Spreads a Wide Ripple
- The View from the Hill
- Why the Economic Forecast Matters
- Economic Assumptions Matter: The Rosy Scenario
- Does One Policy Fit All?
- A Bank Loaded with Economists
- The Importance of the Beige Book
- From Beige to Blue and Green
- Fed Policy
- From Bubbles to Fed Meetings
- The Fed Goofs
Chapter 3: We Are All Economists and Don't Know It
- Context Tells Us What We Can Afford
- Frugal in Arizona
- The Economy Gets Worse
- Public Officials as Economic Forecasters
- A Mayor as Economist
- Tampa's Faulty Economic Model
- Changing the Economic DNA
- How an Educator Put on an Economist's Hat
- A Fiscal Grand Canyon
- Crow Solutions
- The Business Owner as Economist
- Greg Parker: From Fast Food to Economics
- Convenience Store Economics
- Things Are Bad, So Expand
- Chapter 4: How a Perfect World Would Work
- Chapter 5: Shopper Nation: Why We Buy or Don't Buy
- Chapter 6: How Is a Can of Tuna Like a Smartphone? Yes, Context!
- Chapter 7: When to Spend, When to Cut, and When to Scratch Your Head Over the Federal Budget
- Chapter 8: Tax Policy: Does Cutting Taxes Cure All Ills?
- Chapter 9: Monetary Policy: Money, or Maybe the Federal Reserve, Makes the World Go 'Round
Chapter 10: The Panama Canal Widens and the Middle Class Grows in China—How Does That Affect Indiana?
- Ports Get Ready for Change
- The View from the West Coast
- Trade beyond the Canal
- History: The Moat around Fortress America Has Dried Up
- Even Small Countries Can Crash the World Economy
- Free Trade Is a Goal, but Fair Trade Is a Necessity
- Currency Manipulation Has Negative Implications beyond the Obvious
Chapter 11: What Do We Do Now?
- “The Future Ain't What It Used to Be”
- Flying Robots, 3D Printers, and the Future
- Will the Consumer Continue to Reign? Maybe, Maybe Not
- Fracking: Controversial but Changing the Future
- Can We Squeeze More Out of the Ground?
- The Economics of More Energy
- The Aging of Boomers Will Change the Economy Once Again
- About the Authors
- Title: Big Picture Economics: How to Navigate the New Global Economy
- Release date: April 2014
- Publisher(s): Wiley
- ISBN: 9780470641811