Economics- A Very Short Introduction

David Warsh recommends Dasgupta's book;

Each book targets a different audience. Often there are advertisers lurking in the background. The primer I have enjoyed most, the one I would recommend to a friend who wanted to learn how economists think about the world right now, is one that passed almost completely unnoticed into the stream, perhaps because it is so slight. But then, that is the point of Economics: A Very Short Introduction, by Partha Dasgupta, the Frank Ramsey Professor of Economics at Cambridge University. He boils down everything that's ordinarily included in a thousand-page introductory text, and more, to 160 graceful but undersized pages. (The book is one of an interminable list of Very Short Introductions -- to everything from Anarchy, Anglicanism and Animal Rights to Schizophrenia, the World Trade Organization and, coming soon, Chaos -- from Oxford University Press.)

Dasgupta, 65, is one of those figures, well-known to insiders but virtually invisible to those outside the field, until they pop up some year as an October surprise. (Queen Elizabeth knighted him in 2002 "for services to economics.") He has done deep work on issues the length and breadth of economics -- he taught game theory to Joseph Stiglitz and learned the economic history of science from Paul David. But the contribution for which he is best known is a skein of work with Geoffrey Heal, then also of Cambridge University, on the economics of natural resources, begun in 1972, in the context of the then-best-selling The Limits to Growth, and finished with a prescient 1979 monograph, Economics Theory and Exhaustible Resources. That led Dasgupta to an engagement with the United Nations, and a long collaboration with Karl-Gšran Mþler, another environmental economics pioneer. Both are still at it; in 2001 Dasgupta published Human Well-Being and the Natural Environment, and expanded it in 2004. But also in 1972, he read John Rawls' A Theory of Justice, and that led to a second leg of work on social choice, on mechanism design and, ultimately, on the nature of wealth and destitution.

Thus Dasgupta is supremely well qualified to write an overview of economics for the layman. Originally, he says, he had it in mind to lay out what he understood to be the research frontier. "But even though the analytical and empirical core of economics had growth from strength to strength over the decades," he writes, "I haven't been at ease with the selection of topics that textbooks offer for discussion (rural life in poor regions -- that is the economic life of some 2.5 billion people -- doesn't get mentioned at all, nor with the subjects that are emphasized in leading economic journals (Nature rarely appears there as an active player)." The result is a serious textbook treatment shaped around the lives of two ten-year-old "literary grandchildren," Becky in a small Midwestern suburb where her father works for a firm specializing in property law, Desta in a village in southwestern Ethiopia, where her father farms half a hectare of land.

I would add Harold Winter's Trade-Offs to the list.