by Nic Compton, Adam Fishwick, Katie Huston, Daniel Mackie, Illustrator
Barron’s Educational Series, $10.99, 127 pages
I learned more about modern economic theory in this book than I did from an entire semester of macro-economics when I was in college. Tweetonomics explains everything you wanted to know about economic theory in 140 characters or less. Have a question about the International Monetary Fund? Tweetonomics explains that “It monitors members’ economies, especially exchange rates and balance of payments, and gives loans to maintain stability and prevent crises.” Bang, 140 characters. How about the father of modern economics Adam Smith? “Smith noted that competition ensures the customer pays the lowest price for a product. In this way, the free market optimizes production.” There you go!
Each major topic has 5 or 6 tweets that concisely explain a particular topic, everything from the history of economics all the way to credit default swaps, and the global economic crisis. You probably won’t be in line for Secretary of the Treasury, or be the next Chairman of the Federal Reserve, but you will have a solid understanding of why the headlines scream about the US national debt ceiling, and the Standard & Poor AA+ bond rating.
Reviewed by Brad Wright