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Why We’re Getting Poorer: A Realist's Guide to the Economy and How We Can Fix it
An insider's guide to our broken economy and how it fails to serve us.
‘A fascinating examination of the failures of modern economics, and how these failures are harming us all' Grace Blakeley, author of Vulture Capitalism
‘Easily one of the most compelling economics communicators of our generation.' Yuan Yang, FT columnist and MP for Earley and Woodley
Did you know that while we think of money as notes issued by the government, the truth is that the overwhelming majority of money today is credit created by private banks?
Did you know that the reason housing keeps getting less accessible is because we haven’t found a way to separate houses from land in our policies?
And did you know that far from globalisation being a mystical force, certain countries and currencies have dominated the way it has played out – to their own advantage?
Whilst economics is at the heart of the society we live in, governing so many functions from our taxes to where we live to the price of our shopping, few of us have a strong grasp on the subject. This book is here to help.
Why We're Getting Poorer delves into the key topics in economics – money, globalisation, inequality, climate change and growth – showing that what we think we know about these things is wrong, and teaching us what we really need to know. Deciphering the jargon and complexity of economic thinking, with examples ranging from the Simpsons to the German football league to The Inbetweeners, Cahal Moran shows us why our economy set us up to fail, and offers suggestions for how we can make positive changes.
Written by an award-winning economist and the YouTuber responsible for ‘Unlearning Economics’, Why We're Getting Poorer is a thrilling, iconoclastic guide to how the world really works.
‘A fascinating examination of the failures of modern economics, and how these failures are harming us all' Grace Blakeley, author of Vulture Capitalism
‘Easily one of the most compelling economics communicators of our generation.' Yuan Yang, FT columnist and MP for Earley and Woodley
Did you know that while we think of money as notes issued by the government, the truth is that the overwhelming majority of money today is credit created by private banks?
Did you know that the reason housing keeps getting less accessible is because we haven’t found a way to separate houses from land in our policies?
And did you know that far from globalisation being a mystical force, certain countries and currencies have dominated the way it has played out – to their own advantage?
Whilst economics is at the heart of the society we live in, governing so many functions from our taxes to where we live to the price of our shopping, few of us have a strong grasp on the subject. This book is here to help.
Why We're Getting Poorer delves into the key topics in economics – money, globalisation, inequality, climate change and growth – showing that what we think we know about these things is wrong, and teaching us what we really need to know. Deciphering the jargon and complexity of economic thinking, with examples ranging from the Simpsons to the German football league to The Inbetweeners, Cahal Moran shows us why our economy set us up to fail, and offers suggestions for how we can make positive changes.
Written by an award-winning economist and the YouTuber responsible for ‘Unlearning Economics’, Why We're Getting Poorer is a thrilling, iconoclastic guide to how the world really works.
401 pages, Kindle Edition
Published March 13, 2025
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717 people want to read
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Displaying 1 - 28 of 28 reviews
June 19, 2025
Thought to be a book about why we’re getting poorer, it started off strong—answering that question in part by discussing the rise in billionaires, growing inequality, and the heavy reliance on intellectual property to promote innovation and protect large corporations. But it didn’t really get into the core question of why we’re actually getting poorer, which I was a bit disappointed about.
That said, it still explored some important aspects of the economy, like how billionaires are different from millionaires and how wealth is increasingly concentrated.
The second half of the book felt more like a macroeconomics textbook, diving into topics like money, inflation, and the global economy. Still, I found his way of explaining these concepts quite engaging. He talked about the risks of turning housing into a financial asset, which prevents people from enjoying it as a common good. He also discussed the origins of money, not just as a product of bartering, but emerging from debt systems and explained the role of central banks in managing inflation through tools like interest rates, open market operations, and quantitative easing. I especially appreciated the way he distinguished between inflation and a cost-of-living crisis, arguing that each demands a different policy response. He also pointed out how inflation disproportionately affects poorer people, and how raising interest rates can sometimes feel like trying to cure the disease by killing the patient.
The book also touched on the fragility of our global economy, using the breakdown of highly interdependent supply chains as an example, and emphasized the need to build redundancies, even if that means sacrificing some efficiency.
I’d give it a 4 out of 5. It didn’t fully answer the question I expected, but it was still a really interesting read that changed how I think about inflation and how money is created.
That said, it still explored some important aspects of the economy, like how billionaires are different from millionaires and how wealth is increasingly concentrated.
The second half of the book felt more like a macroeconomics textbook, diving into topics like money, inflation, and the global economy. Still, I found his way of explaining these concepts quite engaging. He talked about the risks of turning housing into a financial asset, which prevents people from enjoying it as a common good. He also discussed the origins of money, not just as a product of bartering, but emerging from debt systems and explained the role of central banks in managing inflation through tools like interest rates, open market operations, and quantitative easing. I especially appreciated the way he distinguished between inflation and a cost-of-living crisis, arguing that each demands a different policy response. He also pointed out how inflation disproportionately affects poorer people, and how raising interest rates can sometimes feel like trying to cure the disease by killing the patient.
The book also touched on the fragility of our global economy, using the breakdown of highly interdependent supply chains as an example, and emphasized the need to build redundancies, even if that means sacrificing some efficiency.
I’d give it a 4 out of 5. It didn’t fully answer the question I expected, but it was still a really interesting read that changed how I think about inflation and how money is created.
April 27, 2025
Disappointing. Lacks the depth and fresh insights I was hoping for.
May 18, 2025
In chapter 9 the author states that the capital of Switzerland is Geneva,spoiler alert is Bern.
March 6, 2025
I was lucky enough to be able to read a pre-released version. Simplifies economic theories for the average Joe through fun and thought provoking analogies.
March 25, 2025
This book has a very good summary of the most frustrating elements of the "Econ 101" approach and how the field of economics is addressing them. The book illustrates how these new modes of analysis (including what I would describe as a growing prioritization of empirical research) is shaping our understanding of the ongoing cost of living crisis around the world. Moran also takes aim at the fragility of the design of the economy (with manufacturing centered in so few places and many companies relying on just-in-time approaches) and its lingering colonial elements, like the CFA Franc in western Africa. I also really enjoyed the discussion about how banks work, which I don't think I had ever gotten in that much detail before. Moran explains a lot of important pieces of the economy in an accessible and funny but thorough fashion that's become his trademark.
As a long-time fan of Unlearning Economics, there were some familiar threads. I almost did a double take when he began discussing Thomas Sowell because I was pretty sure I had heard all of that material mere weeks before. My biggest complaint about the book, though, is that there probably weren't enough Simpsons references.
I'd definitely recommend this book. It's enjoyable and detailed and helpful for understanding the world. It gives me hope for the dismal science.
As a long-time fan of Unlearning Economics, there were some familiar threads. I almost did a double take when he began discussing Thomas Sowell because I was pretty sure I had heard all of that material mere weeks before. My biggest complaint about the book, though, is that there probably weren't enough Simpsons references.
I'd definitely recommend this book. It's enjoyable and detailed and helpful for understanding the world. It gives me hope for the dismal science.
August 14, 2025
overall a good read, but it does get a little lost in the sauce of spending ages explaining concepts then giving only a perfunctory few sentences explaining how it relates to the subject of the book as a whole.
I think the subject covered is maybe just a little too broad for a relatively short book, something of this length could be a good detailer on land tax or housing reform. instead, we get a flyover view or the entire international, and several national, economic systems that I don't feel so enlightened by.
I appreciate all the Simpsons references though
I think the subject covered is maybe just a little too broad for a relatively short book, something of this length could be a good detailer on land tax or housing reform. instead, we get a flyover view or the entire international, and several national, economic systems that I don't feel so enlightened by.
I appreciate all the Simpsons references though
July 23, 2025
Interesting book, but I felt it lacked real focus and message. A lot of fun stories about economics that didn’t really contribute to the wider question that the title of the book asks.
March 21, 2025
Genuinely reads like it was written for children. None of the good things that make UE worth watching are in here.
April 18, 2025
The book takes a wide view of the world's economy in various subjects, gives a basic rundown of each, and the common misconceptions surrounding them. It stresses how interconnected everything is and the role of power imbalances that are often ignored in most econ books. There's not a huge amount of depth to any individual topic, but it's a pretty good summary of each, while addressing the most common talking points.
My main criticism is that it offers many different solutions, but sort of avoids any full-heart endorsement for any. I appreciate the nuance, but it does make it difficult to figure what it's actually endorsing. It has a good outline of what the goals should be, then sort of vaguely shows potential solutions, but also points out potential issues with some. It comes off a bit like a long-winded shrug.
To be fair, that seems very intentional. These are complex issues and simple solutions would likely fall short. The book also rightfully pointed out that the unique history, economy, and culture of every country means that the same solutions wouldn't necessarily work everywhere. I just wonder what I’m supposed to get out of the book at that point. Even in its conclusion, it dug more into the goals and themes of good solutions than the actual solutions themselves.
But despite the length of my criticism, it's relatively minor. The book's main value is in it's outlining of how everything works (or doesn't), and most importantly, why things are the way they are. It demystifies a lot of things that are commonly hand-waved away with buzzwords or some vague notion of "the market."
My main criticism is that it offers many different solutions, but sort of avoids any full-heart endorsement for any. I appreciate the nuance, but it does make it difficult to figure what it's actually endorsing. It has a good outline of what the goals should be, then sort of vaguely shows potential solutions, but also points out potential issues with some. It comes off a bit like a long-winded shrug.
To be fair, that seems very intentional. These are complex issues and simple solutions would likely fall short. The book also rightfully pointed out that the unique history, economy, and culture of every country means that the same solutions wouldn't necessarily work everywhere. I just wonder what I’m supposed to get out of the book at that point. Even in its conclusion, it dug more into the goals and themes of good solutions than the actual solutions themselves.
But despite the length of my criticism, it's relatively minor. The book's main value is in it's outlining of how everything works (or doesn't), and most importantly, why things are the way they are. It demystifies a lot of things that are commonly hand-waved away with buzzwords or some vague notion of "the market."
March 31, 2025
I don' think the book is aimed at anyone who has more than a basic economic understanding. I didn't really get a clear idea of how to fix the economy, probably because given the complexity of a globalised world, there is no clear solution. I'll offer one.
Tax the Rich.
If you took 20% off the nett worth of the top ten billionaires in the UK you would raise over 40 billion. These millionaires would still have a minimum of Ten Billion left, EACH. or 2% wealth tax on nett worth over 10 million. That would generate 23 billion - a year -. According to the Tax Justice Network and Patriotic Millionaires.
And - no the millionaires will not leave the country, at least not in disproportion to all classes of people that migrate anyway. - and, no, other countries that have introduced wealth taxes (Spain recently) have not seen a collapsing economy. Quite the opposite. And finally no, Norway did not abandon it's wealth tax.
Tax the Rich.
If you took 20% off the nett worth of the top ten billionaires in the UK you would raise over 40 billion. These millionaires would still have a minimum of Ten Billion left, EACH. or 2% wealth tax on nett worth over 10 million. That would generate 23 billion - a year -. According to the Tax Justice Network and Patriotic Millionaires.
And - no the millionaires will not leave the country, at least not in disproportion to all classes of people that migrate anyway. - and, no, other countries that have introduced wealth taxes (Spain recently) have not seen a collapsing economy. Quite the opposite. And finally no, Norway did not abandon it's wealth tax.
July 15, 2025
Some really interesting stuff in an area with lots of awareness, but precious little useful analysis. While it wasn’t completely uncritical of economics, this isn’t a book a non economist would have written, so although the author being an economist gives it credibility, the arguments were effective despite him being one, rather than because he was. Nevertheless there are many useful and thought-provoking insights regarding economic policy. Anti-inflation measures are always couched explicitly in terms of restricting wages by slowing economic activity, with unemployment being the lever to slow price increases. The fundamental problem, which comes across increasingly well in the book, is the lack of democratic representation, principally in the workplace, but in general in terms of the rich being able to manipulate the system to their own ends.
August 30, 2025
This was a surprisingly refreshing and, dare I say, optimistic read. For a book discussing depressing economic realities, Cahal does a good job at rooting his ideas and proofs in everyday examples that the typical reader can understand and relate to. This isn't your everyday economics book. This is actually pretty good and I felt engaged throughout each chapter.
As a 34 year old, I'm closer in age to Cahal than I am to most of the other economists I've read (for school and for leisure), and reading someone's work who actually had to live through the same things and at the same age that I lived through them was refreshing.
If you're close to the same age (mid 30s) and like economics, and want to hear something that doesn't solely focus on American issues, check this book out.
As a 34 year old, I'm closer in age to Cahal than I am to most of the other economists I've read (for school and for leisure), and reading someone's work who actually had to live through the same things and at the same age that I lived through them was refreshing.
If you're close to the same age (mid 30s) and like economics, and want to hear something that doesn't solely focus on American issues, check this book out.
October 13, 2025
I got the book because I enjoy Moran's YouTube videos (Unlearning Economics). I was a bit disappointed, though.
It's a basic introduction, so good if you know nothing about economics.
He criticizes how much power billionaires have in our society, and then proceeds to cite a lot of bad things done by Bill Gates, Bernard Arneaux, Steve Jobs, Elon Musk, etc. But he doesn't seem to realise that any CEO running a large company has a lot of power and can behave badly - he doesn't have to be a billionaire.
There is a very long section about the fragility of global supply chains which I didn't find very insightful.
There are other books I'd read before this one in the "what's wrong with the economy" genre.
It's a basic introduction, so good if you know nothing about economics.
He criticizes how much power billionaires have in our society, and then proceeds to cite a lot of bad things done by Bill Gates, Bernard Arneaux, Steve Jobs, Elon Musk, etc. But he doesn't seem to realise that any CEO running a large company has a lot of power and can behave badly - he doesn't have to be a billionaire.
There is a very long section about the fragility of global supply chains which I didn't find very insightful.
There are other books I'd read before this one in the "what's wrong with the economy" genre.
April 7, 2025
It's a hopeful inspiring book and really explains concepts clearly about the economy, money, the housing market and how it all works or well doesn't work. How did we get here? How do we get out? The proposed ideas, solutions are all options as to how should one organize ourselves. It is both incredibly real, yet far from being nihilistic and in a way, it treats a lot of concepts fairly and does their best to really evaluate everything together and spells it out plainly. An excellent book to read if you wonder what is going wrong with the economy and more importantly, what should we do about it.
June 30, 2025
Much like his YT videos, Cahal Moran makes sense of the most salient economic failures resulting from unbridled capitalism. It’s not an 800-page treaty, but a lively read that tackles a few specific myths and pressing issues (inequality, monetary policy, housing, inflation and globalization), through vivid analogies and concrete examples; all without simplifying them. Academic analysis and practical advice for ordinary people at its best.
August 19, 2025
This counts as my economics book for the year. Thank God this one had little jokes sprinkled around. My disdain for the school of economics aside, this was a very good book, and I really like the authors other works as well. At some points, I felt like he went over some pretty basic stuff, but then a few sentences later, I would have a new perspective on the topic. It's very much worth the read.
May 8, 2025
I did enjoy reading this. I read it on holiday, which is probably not the best format for this book! Nonetheless the style is engaging, and served as a broad overview of many economic concepts that relate to various structural inequalities in the UK.
May 26, 2025
A sweeping view of the modern economy. Written from the perspective of a millennial economists and aimed at the western layman. Delves into history and global context. It is relatively short and skimps a bit on the solutions offered, but overall well worth the read.
April 1, 2025
CM consistently delivers on explaining complex theorem in relatable and digestible chunks. Brilliant.
May 5, 2025
strong recommend to anyone who would like to better understand economic theory and contemporary issues. the chapter on financial institutions and money was great
May 19, 2025
A fascinating read, with real solutions to the problems we face today.
July 4, 2025
3.5 stars
July 20, 2025
my goat
August 4, 2025
well argued book offering alternatives to the accepted economic narrative. I already enjoyed the YouTube channel so was familiar with some of the points.
August 18, 2025
there is a natural tension between writing readable and rigorous nonfiction and Moran does an admirable job walking that line
October 14, 2025
Very good collection of essays that explain why we are getting poorer. I will need to revisit the book when I have more knowledge of economics to give a more critical review.
June 8, 2025
Using The Simpsons and Season 2 of The Wire to explain the global economy... what more could you ask for?
Displaying 1 - 28 of 28 reviews