If the best economic analysts have one
thing in common, it’s that they don’t
put much faith in the mumbo jumbo of
mainstream, textbook economics. They
benefit from independent thinking, and
so can you.
Follow along to discover…
Economics for Independent Thinkers undresses the ivory tower elite as it explains why the field of economics is stuck in a rut. But it also offers a way out. It binds together an assortment of unconventional ideas into a fresh set of tools for understanding the economy. It can add the crucial, missing perspective to your meetings with advisors, presentations at work, and conversations with friends or colleagues.
“A profoundly insightful book that emphasizes the importance of credit and banks in business cycles, issues that are conveniently assumed away in most empirical macroeconomic models, including those used by central banks. Although a self-taught outsider with a remarkably broad knowledge of the intellectual history of economics, Nevins gives entirely new and different perspectives on the central policy issues of the day, including Keynesian stimulus and debt. Although many of the ideas here are parallel to ones at the cutting edge of modern research, Nevins’ analysis brings rare realism and sensibility, and his presentation is free of political dogma. Students struggling with the lack of realism in core Keynesian and classical models will find this book both richly informative and, frankly, cathartic. And it is written in an engaging and clear style that will be accessible to anyone.”
—Harvard University’s Kenneth Rogoff, coauthor of This Time is Different and author of The Curse of Cash
Author Daniel Nevins invites readers to follow along on an irreverent journey from pie-in-the-sky theories to methods they can actually use. In place of the worn-out narratives of mainstream economics, he draws on a motley assortment of economics rebels. He binds together their most powerful ideas with lessons from thirty years of professional investing, revealing the neglected forces behind business, financial, and debt cycles.
“[M]akes a great read for anyone that is remotely concerned with economic developments. . . . Nevins’ book should be on the reading list of most wealth management practitioners, particularly if they are not themselves trained economists.”
—Jean Brunel, editor of the Journal of Wealth Management and author of Goals-Based Wealth Management
“Economics for Independent Thinkers provides an economic framework for improving investment decisions.”
—Brenda Jubin, author of the Reading the Markets blog
“Economics for Independent Thinkers is useful to practitioners who make economic forecasting part of their investment process. It highlights practical difficulties with such standard methods as the coincident or lagging nature of consumer confidence surveys and the time lags built into production and employment indicators. Readers may also appreciate Nevins’s enlivening of potentially dry subject matter with frequent pop culture allusions and analogies.”
—Lehmann, Livian, Fridson Advisors, LLC’s Martin Fridson, book review editor of the Financial Analysts Journal, coauthor of Financial Statement Analysis: A Practitioner’s Guide, and author of Unwarranted Intrusions
“I strongly recommend Nevins’ book for a no-nonsense approach to economics. Traditional textbooks tend to ignore moral hazard problems that occur in the real world, but Nevins’ book tackles these problems head on. For example, the credit cycle (that produced winners and losers) and the general misconceptions of the government’s role in getting the U.S. out of the Great Depression (rather, government policies delayed recovery and extended the Depression longer than it should have taken for a recovery). . . . Highly recommend for the casual economics sleuth or even as a supporting economics or finance textbook.”
—George Mason University’s Anthony Sanders, author of the Confounded Interest blog
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