Hidden Order: The Economics of Everyday Life

This book, written by the son of a legendary economist, is an attempt to explain, in reader-friendly fashion, some basic principles of macro- and microeconomics.Well, there's something you should know up front: this book contains numerous unpleasant and confusing graphs and charts that the author uses in his explanations. There. I said it.Because of this, you really have to ask if this book is the wisest purchase for your needs.I'm one of those people who don't believe it is possible to teach economics meaningfully without resorting to unpleasant graphs and charts.But if you agree with me, what would you be doing with this book? It's not more engagingly written than your average college textbook; its examples are quite standard; and, because it is a paperback, many critical ideas are missing.If you're looking for a engaging and reader-friendly book that'll teach you about economics WITHOUT graphs and charts, well . . . I guess I would recommend either Buchholz's "From Here to Economy," or Wheelan's "Naked Economics," both well-known, helpful, and (as of this writing) reasonably current.However, if you need to learn some economics and have (quite sensibly) resigned yourself to the inevitability of charts and graphs, I would just go ahead with a solid freshman textbook: Slavin's "Economics" (8th Ed.) could not be more student-friendly, while Mankiw's highly-regarded "Principles of Macroeconomics" (3rd Ed.) is less so but superlative in every way.As it is, since Friedman's little book is not noticeably cleverer, better-written, or more innovative than other books of its kind, the only advantage it seems to offer is its convenient paperback size, which makes it more conducive for reading in the tub.

Economics for the laypersons has become the topic "du jour." This book written nearly a decade ago before economics became hot far surpasses its successors such as "Freakonomics." David Friedman does not dumb down economics like the others. Other reviewers who had at least a rudimentary interest in economics really enjoyed it. A few others who confused economics with their own political views predictably got frustrated with it. Economics is not always intuitive. As a result, several reviewers thought the author made mistakes regarding the graphs on page 29, or the example on housing on page 35. I reread these passages carefully. The author is accurate, it is just that these economics concepts are counter-intuitive. And, contrary to Steve Levitt in "Freakonomics" David Friedman did not shy away from tackling the inherent complexity in economics.The book gives you a good foundation in both macro and microeconomics. Very early in the book he introduces and graphs demand and supply curves, marginal costs and revenue curves, utility functions. His coverage of international trade, taxation, subsidies, rent control is excellent. Along the way, you will also learn about investment theory and corporate finance. Friedman explains how the Efficient Market Hypothesis applies not only to stocks but freeway traffic and supermarket lines.Friedman also gives full credit and fleshes out the ideas from the founders of modern economics, including Adam Smith, David Ricardo, and Alfred Marshall. This is unlike Steve Levitt in "Freakonomics" who truly believed he was the first economist to tackle every day issues forgetting that economics is the science of understanding everyday behavior to begin with.For further reading, if you want to pursue an econ refresher I recommend an actual textbook: "Principles of Economics" by Gregory Mankiw. This is a textbook with a hip and humorous attitude. The Economist, the British magazine, raved about it when it came out. I also recommend Gary Becker's "The Economics of Life", and Steve Landsburg's "The Armchair Economist."

The author is a genius. It is clear. But trying to think and write with 4 ideas in a page is just too much. I will try again but there are much better books.

Explains a lot of economic principles in a generally easy to read way with real life examples. For those who've never studied economics this is a good introduction which is definitely not dry like some textbooks. The book blurb in the dustjacket is however more enthusiastic than the book deserves, as is the case with book blurbs.

As usual, D. Friedman surprises amateur and profesional economists alike, with insightful and interesting applications of economic principles to situations that conventionally non-economical. Everyone will learn from it.

Opens your eyes to so many topics and subjects involving, money finance and economics in general that most people would otherwise be clueless about.This book was actually purchased for use as a text book but I've enjoyed it so much I've decided to keep it for myself (rather than resell it to future students) and read it cover to cover (since in my basic economics class not all chapters were covered).

Makes the complexity of economics accessible without calculus. Reread about once a year to remind yourself how things really work.

This book should be required reading for graduating high school (or university)

This is a good book for starters in Economics Theory - Microeconomics. It possesses a simple yet direct language and examples that make its statements clear and comprehensive.Although this work is not the best economics book you will ever hear about, it fulfills its purposes. The author, sometimes, lacks explanation and bases his theory in non-realistic assumptions - be aware.Recommended for a first view into Microeconomics.

Interessante Einführung in die Fragestellungen der Nationalökonomie. Verzichtet auf unnötige Formalien und beschränkt sich Kerngedanken der Ökonomie. Sehr empfehlenswert für den Anfänger