Man vs. Markets
Economics Explained (Plain and Simple)
By Paddy Hirsch
(HarperBusiness, Paperback, 9780062196651, 224pp.)
Publication Date: August 2012
After years of TV and radio coverage, gallons of newsprint ink, and billions of scholarly opinions on the blogosphere, do we really understand the financial engineering that brought the global economy to the brink?
The terms and acronyms that make up the language of economics are enough to cause the layman's head to start spinning: leverage, securitization, futures, options, MBS, CDS, CDO. Luckily, we have veteran journalist Paddy Hirschsenior producer at APM's Marketplace and acknowledged Whiteboard Guruto help us crack the code. In Man vs. Markets, he proves that it's not impossible to understand what's going on in the glass-and-steel canyons of Wall Street; that most international financial transactions aren't all that different from those taking place every day in stores, in car dealerships, even on the playgrounds of Main Street.
Bonds? They're basically loans. Futures? You probably used one when you ordered your Thanksgiving turkey last year. Options? Ever bought a fully transferable, returnable airline ticket? That's pretty much the same thing.
With a winning combination of acquired wisdom, common sense, market savvy, and an outrageous sense of humor, Hirsch clearly explains and defines the instruments that power our financial system and very nearly caused its demise. Clever, insightful, hugely educational, and always entertaining, Man vs. Markets translates the often confusing language of finance, enabling every one of us to truly comprehend what makes the markets tick.
Paddy Hirsch is a senior producer at American Public Media's business radio program, Marketplace. He is the creator of the acclaimed and popular Marketplace Whiteboard, which was a Webby honoree in 2009, and has been featured on network and public broadcast television. He recently completed a Knight Fellowship in Journalism at Stanford University. Hirsch lives in Los Angeles, California.
“A straightforward, accessible, and often hilarious overview of our financial and economic systems, products, and concepts….[T]his helpful, amusing, and engaging beginner’s guide to our financial system is sure to delight and inform readers of all ages who want to understand and navigate the markets.”
“This accessible, often entertaining book will serve a valuable purpose.”
“This book is a must-read for the financially under-educated....This inviting text provides a good springboard for investigating more of the frightening world of finance.”