Understanding economics is always diificult for a layman as there are more than a critic for every proposition made...it’s always debatble and if you are about 19-20 and do not have basics of economics, you are bound to get confused by the variety of propositions and counter statements made by the economists...I just happened to come across this book called ’’Free lunch’’ by david smith.
This perfectly suits the requirements to help a lay man to undrstand the basics of economics as the author tries to explain the concepts by relating it to very common live examples..his analogy of rise in prices to that of rise in houses and the behaviour of humans to that of ants is quite applaudable.
He then shows how a budget deficit or a surplus affects common man and explains the pros and cons of inflation and deflation. As the book also relates every concept to the theorists like Karl Marx to Milton Friedman, one will get a profoud overview of the classical and neo-classical thoughts of economics.
On a whole’’Free lunch’’ is a guide to economics organised like a convival meal with friends to guide you through mysteries, leaving you nourished and enlightened...