The First Book of Economics
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Summary
Editor's review
The book's greatest value lies in its solid logical foundation and vivid real-world concern. It does not offer quick policy prescriptions or investment secrets; instead, it is devoted to cultivating in readers a rigorous way of economic thinking. Through reading, readers can understand how the market process coordinates the dispersed knowledge of countless individuals, how prices transmit information about scarcity, and what unintended consequences government intervention may produce. For Chinese readers accustomed to macroeconomic aggregate thinking, the book's emphasis on microfoundations and the market process can offer a particularly useful complement, even corrective, perspective.
The Hainan Publishing House translation is of high quality and conveys the clarity and force of the original well. Although the book's views (especially its analysis of central banks and the business cycle) belong to a particular Austrian School tradition and may provoke controversy, the rigor of its argument and its defense of free-market principles make it an excellent text for understanding the ethics and logic of the market economy. Whether or not readers ultimately agree with all its conclusions, the process of intellectual training itself is highly valuable.
Who it's for
A good fit for
- Complete beginners interested in economics but intimidated by mathematical formulas and complex models
- Readers who want a systematic understanding of Austrian School economics and its theory of the market process
- Social science enthusiasts seeking to understand the logic of individual choice and coordination behind economic phenomena
- Economics students dissatisfied with mainstream textbook frameworks and eager for an alternative perspective
Not a good fit for
- Readers seeking econometric models, data analysis tools, or quick guides to financial applications
- Readers who strongly identify with Keynesianism or the neoclassical synthesis and are unwilling to engage with dissenting theory
Reading tips
- Read in chapter order; the book is highly cumulative in its logic, and skipping around may hinder understanding
- Relate the ideas to real economic policy news or market phenomena to appreciate the theory's explanatory power
- If you doubt certain arguments, read works from other schools for comparison and form your own judgment
About the publisher
Hainan Publishing House is a comprehensive publisher known for literary and intellectual works, covering foreign literature, philosophy, classics, world-famous works, classical poetry and prose miscellanies. Its catalog includes foreign literary classics such as Leo Tolstoy's Anna Karenina and Romain Rolland's Jean-Christophe, philosophical works such as Jean-Jacques Rousseau's The Social Contract: Expert Companion Edition, and Chinese classics and poetic studies such as Lu Xun's essays and prose collections and Wang Guowei's Renjian Cihua, as well as illustrated popular-science works like Fabre's Insects. The involvement of translators such as Zhong Shufeng, Fu Lei and Chen Xiaoqing reflects the publisher's emphasis on translation quality and expert guidance. Public information is limited, and the above is based mainly on the books in the catalog.
Contents
- 版权信息
- 译序
- 致谢
- Section 1 基础
- 第1课 像经济学家那样思考
- 第2课 如何发现经济学原理
- 第3课 由行动推导出的经济学概念
- 第4课 鲁滨孙·克鲁索经济学
- Section 2 市场经济
- 第5课 私有财产权制度
- 第6课 直接交换与易物价格
- 第7课 间接交换与货币的出现
- 第8课 劳动分工与专业化
- 第9课 企业家精神与竞争
- 第10课 收入、储蓄与投资
- 第11课 供给与需求
- 第12课 利息、信用与债务
- 第13课 盈亏计算
- 第14课 股票市场
- Section 3 计划经济
- 第15课 计划经济——理论篇
- 第16课 计划经济——历史篇
- Section 4 干预主义：混合经济
- 第17课 价格管制
- 第18课 销售税与所得税
- 第19课 关税与配额
- 第20课 关于禁毒的经济学分析
- 第21课 通货膨胀
- 第22课 政府债务
- 第23课 经济周期
- 术语对照表
FAQ
How does this book differ from Mankiw's Principles of Economics?
Can I understand it without a math background?
Are the book's views extreme or outdated?
Comments
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About the author
Public information about Robert Murphy is limited, and what can be confirmed so far centers mainly on his works. One title by him is included in our catalog, The First Book of Economics, which is classified under finance and economics. Judging from the title and category, the book is aimed at beginners and introduces basic economic concepts and principles in an accessible way; its writing leans toward introductory guidance rather than the deep argumentation of an academic monograph. For general readers who wish to gain an initial understanding of economics, such a book can lower the barrier to reading and help build a preliminary awareness of economic phenomena. Because information about the author's life, nationality, education, and positions cannot be verified, this introduction makes no speculation and focuses only on the subject matter and writing orientation of the included work, so that readers may further understand his style of expression and areas of focus through the book's content.
Cheng Ye is an author about whom relatively limited public information is available. The book database contains only one work by this author, The First Book of Economics, categorized under finance and economics. Based on the available information, Cheng Ye's writing centers on introductory economics and the popularization of financial and economic knowledge. The title itself suggests a beginner-oriented approach, intended to present basic economic concepts and ways of thinking to general readers in an accessible manner. Since the author's nationality, dates of birth and death, educational background, and professional experience are not clearly recorded, no speculation is made here, nor are biographical details invented. As far as the known work is concerned, its value lies mainly in lowering the threshold for reading economics through a plain style and helping readers without specialized training form a preliminary understanding. For readers who wish to learn the fundamentals of economics, Cheng Ye's book can serve as reference reading at the introductory stage, while more information about the author remains to be supplemented by further public sources.
