Can’t We Just Print More Money? Economics in Ten Simple Questions

by Rupal Patel, Jack Meaning, The Bank of England

'A well-written treat' Professor David Spiegelhalter, author of The Art of Statistics'An enjoyable introduction' The Times'Entertaining and essential' Laura Whateley, author of A User's Guide__Why are all my clothes made in Asia? How come I'm so much richer than my great-great-grandma? And what even is money?Whether you're buying lunch, looking for a job, or applying for a mortgage, the thing we call 'the economy' is going to set the terms. A pity, then, that many of us have no idea how the economy actually works.That's where this book comes in. The Bank of England is Britain's most important financial institution, responsible for printing money, regulating banks and keeping the economy running smoothly. Now, the Bank's team take you inside their hallowed halls to explain what economics can - and can't - teach us about the world. Along the way, they offer intriguing examples of econ in in financial crises and Freddo prices, growth stages and workers' wages. Accessible, authoritative and surprisingly witty, this is a crash course in economics and why it matters.__'If you feel you should understand how economists think but have no idea where to start, this book is the answer . . . Buy this book for the inquiring person, young, old or in between.' Martin Wolf, Financial TimesThe Sunday Times Business Bestseller

Genres: Economics, Nonfiction, Finance, Politics, Business, Money, Society

304 pages, Paperback

Published May 19, 2022

Reviews

[Rebecca Ward · Rating 5 out of 5]

The content varies between the basics and the more nuanced insight, but overall it is an easy to read overview of the main ingredients in economics. Would have benefitted from an extra chapter on the relationship between economics and politics.

[Ana-Maria Voloc · Rating 5 out of 5]

You are the economy and so you have the power to shape it and be shaped by it. Along the way, you might just help create a better society for everyone.

[Iona Sharma]

The Bank of England has realised, 200 years after its founding, that part of its job is to actually educate the citizenry about the economy and also to communicate what it, itself, is for. This book is part of that project and has been written by two Bank of England economists, with input from many more and also the Governor. Each chapter is called something like "Why can't we print more money?" or "Where does my breakfast come from?" and is based loosely on a question that has been asked of the economists by their friends and family.

So far so good, and it really is very good! I don't know how much help the economists had with their prose but the book is lucid and accessible and fun, and I learned a lot and wished I'd been able to read it before I did my undergrad. It's also written with a particular point in mind, which is that the ordinary citizen is part of the economy and has the right to feel part of it. I like that.

[Giorgia Tandoi · Rating 5 out of 5]

I totally get the target audience this book is going for. Economics shouldn't be all about fancy jargon and complex theories. It's about how our daily lives are intertwined with it, and learning about it can actually help us make smarter decisions. I highly recommend it to anyone who wants to understand our society in a straightforward and relatable way. It's all about keeping it real!

[Alina Rozhkova · Rating 5 out of 5]

Хороша базова книга для початківців

[Jamizal · Rating 5 out of 5]

Really one of the best book on economics make it simple series. Apart from Ha Joon Chang , Patel works as economist in Bank of England another talented writer who can present economics in an eloquent and simple manner. Important to refresh my knowledge on certain key concept as it relates to everyday chores of our life. Economics is about human behaviour and making choices. Human choice relatively dependent on government policies too. Any intervention from government surely will affect human choices. I stick with the book and concentrate to finish it soonest possible because it is too alluring.

[Tommy Clark · Rating 3 out of 5]

Really good explanations of some core economic concepts (although a few chapters seemed to just mainly cover demand and supply)

The authors managed to talk about economics' role in climate change, long term unemployment, the 2008 economic crash etc, but yet (to me) still somehow seemed to maintain a tone that suggested that neoclassical economics was just the natural order of things, and that everything is working basically fine

For example, if Pigouvian taxes and the emissions trading scheme can solve climate change as the book seems to suggest, how comes it doesn't feel very much like they are?!

I would have liked the book to explore that rather than at times just feeling like central bankers patting themselves on the back. Some acknowledgement of alternative schools of thought within economics might have even been interesting

Still, a nicely written "chatty" book about economics which was engaging to read

[Fiz|فيز (Substack link in bio) · Rating 4 out of 5]

I obviously picked up this book so I can educate myself and better my understanding in the world of economics. I really appreciate what this book was trying to do, which was teach and introduce people to economic literacy I just felt I was not the intended audience for it. Not to say I am a genius in all things economics but using analogies and metaphors to describe something which I already have a basic understanding this was just written in a technical way referenced by historical events. I would recommend this book who are just starting out, maybe 15-16 year olds. If they was to do another book I would love to read about economics and politics, explaining the different bank accounts, investments etc. I do want to read more finance/economic books so any recommendations let me know!

'You are the economy and so you have the power to shape it and be shaped by it. Along the way, you might just help create a better society for everyone.'

[Ron Jones · Rating 5 out of 5]

A great introduction to economics for the everyday man. Covers the main aspects of the economy that every citizen should understand in order to be engaged in daily economic life. I’d suggest as a good primer before ECON 101, or anyone who wants to refresh their basic economic knowledge.

[Sara · Rating 3 out of 5]

Listened to the audio book which was quite engaging and hopefully I've retained at least some of the information...

[Maya G · Rating 4 out of 5]

Some parts were very well explained - an enjoyable listen to learn more about the basics of economics! However, unfortunately some parts left me even more confused🥲

[Miracle Abiola · Rating 5 out of 5]

A very accessible introduction to economics with plenty of grounded examples and easily digestible explanations of the economic principles and systems that drive the micro and macro economy. A good starting read for anyone curious.

[kaylaht · Rating 3 out of 5]

This book has been lovingly positioned on every display stand in WHSmiths and Waterstones. It was only after a friend of mine (who has a limited understanding of economics - I mean this in no offence) who asked me to explain the title - why can’t we print more money - after picking the book up in the airport which led me to reading this book that I had left on my want to read for a couple years.

In all honesty, I expected this book to be more than it was. It read almost like a textbook I’ve had put in front of me many times in economic classes and while I thought the captivating chapter titles - “Why aren’t Freddos 10p anymore?” - I found the book lacking the deeper in depth insight I thought it might bring. To my friend who says they don’t understand why we simply just can’t print more money - the answer is we can but what would happen with more money?

[Lauren Avetissyan · Rating 4 out of 5]

Overall the language is extremely accessible and it just reads so easily. Content-wise the first few chapters are a bit too simple, yet the last five chapters are very insightful and interesting. The references to the Central Bank, London neighbourhoods and all the examples from different centuries and countries keep the book light and fun. Recommend!!

[Emma · Rating 3 out of 5]

This book gave me a low-key existential crisis. Apparently money isn’t real and gold has no value and it all works on a system of trust, everything in economics is based on assumption and most of the time people get it wrong. Triggered. A highlight of the book is when the author compared economists to doctors, in that doctors didn’t understand some important things either like how general anaesthetics worked (until recently). Love that for us all. I did enjoy the chapter dedicated to Freddos tho.

[Anne · Rating 5 out of 5]

Even though I’ve always hated the subject of economics, I decided to pick up this book — mostly because I do kind of need to understand a basic level of economics for my PhD. I, however, really loved this book. Finally someone who can explain economics WITHOUT using those awful formulas and terms. I think I can now just conclude that I don’t hate economic theory, I just dislike numbers and formulas😂

[Danielle · Rating 5 out of 5]

I liked the way the book was structured and how clear it was in the flow and language - from everyday economics to how the central bank works, and I thought it was explained in a relatively straightforward way. I don't know everything about economics yet, but one takeaway would be how inflation and societal spending help move the economy along.

[Jess Corcoran · Rating 4 out of 5]

This book is a good entry level insight into economics. I have definitely learned about some key concepts, and the books authors have clearly strived to make this book accessible and modern. I will say however, I bought this book to understand the key question, the title, which wasn’t answered until the last chapter and to be honest, I still don’t realllyyyy understand why we can’t just secretly print more money. I did also have a dream or nightmare(!) last night about having to an A level maths exam so the topic is clearly on my mind.

[Ed · Rating 4 out of 5]

For beginners to the subject of economics this is a perfect first step. The basic concepts are explained with great depth and easy to understand analogies. A entry level economics textbook in disguise and a brilliant idea from the BoE.

[Fotis Koutoulakis · Rating 5 out of 5]

This is one of the best economics books I have read thus far.

Very well written and a breeze to go through, with very clear and lucid explanations on a variety of economics topics.

More suited to a beginner in Economics, but still contains the odd new frame for a topic, enough to get value even if you're well read in economics.

[Sebastian · Rating 5 out of 5]

Loved this one! Economics truly is a fascinating concept!

[Zoe Vong · Rating 5 out of 5]

Different parts of economics explained in an easily digestible manner. Might need to read it again to thoroughly remember specific terms but overall, very informative.

[Beth Lamyman · Rating 4 out of 5]

3.5 ⭐️ very interesting

[Sam Mabey · Rating 4 out of 5]

A really clear and unbiased description of how the economy works. It explains well what politicians are trying to achieve with fiscal policy and described so that both people with no knowledge and people who already know about economic theory will both enjoy and learn something.

[Adrian Purcaru · Rating 4 out of 5]

Concepte de baza de micro economie, buna pentru incepatori

[Emily Park · Rating 5 out of 5]

Really really recommend, super interesting and informative

[Owen Jones · Rating 4 out of 5]

Great book, around 4.5. Well worth anyone’s time on both basic economics and how to write for all audiences.

[Bea Sayer · Rating 4 out of 5]

Very informative book that has left me with a much better understanding of the economy- would highly recommend! I've also spent this morning looking into Japan's pioneering quantitative easing strategy- something I never thought I'd say...so the more you know I guess!

[Iona · Rating 4 out of 5]

This was a well written and well explained, and I didn’t feel like the topics ‘went over my head’ (happens a lot for me on this subject). I think it’s more relatable if you’re UK based but the concepts are universal and presented in an approachable manner.

[Colin Stump · Rating 5 out of 5]

Refreshingly light and easy to read. But authoritative and very accessible on the fundamentals of economics. Should be compulsory reading for kids towards the end of their secondary education. And for adults who want to understand what makes the economy ebb and flow, without getting bogged down in too much detail and theory.
Very relevant reading in the world situation we face in 2022.