"Of all the economic bubbles," the editors of The Economist recently observed, "few have burst more spectacularly than the reputation of economics itself." The crisis of 2008 destroyed the credibility of the economic thinking that had guided policymakers for years.
In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Recent events have shown that we cannot afford to treat economics as an abstraction. Written in clear, accessible language, the book makes an argument that no one should ignore.