How Our Economy Works (and Doesn't Work), in Words and Pictures
Starred review from August 20, 2012
Economics is terrifying. Even if one doesn't consider the bleak state of the current world economy, just attempting to create a mental picture of the complex systems of market forces, government agencies, and human psychologies that drive the economy can be like trying to visualize a map of the universe. But Goodwin and illustrator Burr argue that the economy is easy enough to understand if you break it down into bite-sized chunks, roughly the dimensions of a comic panel. They tell the story of the economy starting with its first documented examination by Adam Smith and working their way up to 2011. That devotion to thoroughness makes this a dense yet quite accessible read. Goodwin brilliantly contextualize economic theories with historical narrative, while Burr's simple but elegant illustration employs classical techniques like caricaturing politicians and symbolizing big businesses (as a gleeful factory) to help the reader visualize difficult concepts. If the book has a prime message, it's that the economy is quite understandable and when things go wrong, the effort and thinking of a whole society must be applied to bring everything back into line.
Starred review from November 15, 2012
This dense yet readable exegesis makes economics entertaining despite current financial shenanigans worldwide. Goodwin takes a chronological approach, starting with the history of banking in the 17th century. As he marches through four centuries of economic theories and theorists, he attempts to show what happened, what succeeded, and what went wrong in terms of both public and private good, with a focus on the reasons particular theories didn't pan out in real life. Confusing concepts are explained in text and in the glossary. Generally, Goodwin takes a liberal/progressive view, holding that laissez-faire approaches work best today when combined with other approaches in a "blended economy," and that a healthy economy benefits average citizens rather than predominantly favoring large corporate/financial entities. Others may not agree, but then they can create their own graphic economics texts. VERDICT With quirky, engaging art that dramatizes the discussion well, Economix is a must have for all academic, public, and high school libraries and should be required reading for all of voting age. (Comprehensive references appear at economixcomix.com.) Note also Hill and Wang's quite good two-volume The Cartoon Introduction to Economics, organized by concept.--M.C.
Copyright 2012 Library Journal, LLC Used with permission.