Naked money : a revealing look at what it is and why it matters
(Book)

Wheelan (Dartmouth College) has churned out three solid, engaging volumes in the 21st century: Naked Economics, Naked Statistics, and now Naked Money. The author offers factual information for intelligent lay readers, undergraduates, "industry" insiders, and government officials on contemporary and historical topics related to money, commercial banking, and central banking. Somewhat stand-alone chapters cover the basics of what money is and does; inflation and deflation; monetary history, including gold and gold standards; major crash and credit episodes (1929 and 2008); international exchange rate systems; monetary policy; and country- or region-specific case studies such as Japan, the eurozone, and China. He closes with two polar opposite discussions: digital money (Bitcoin at the moment) and ways to improve central banking. Well-referenced, up-to-date, and important, Naked Money brings together a set of related threads and a very talented writer. A can't miss. Summing Up: Highly recommended. Lower-division undergraduates through faculty. --Allen R. Sanderson, University of Chicago

After tackling economics and statistics, Wheelan (senior lecturer & policy fellow, Rockefeller Ctr., Dartmouth Coll.; Naked Economics) turns his attention to money. Currency is central to everyday life, but many people may not really understand what it is and is not. The text is divided into two parts. The first attempts to define money, including the differences between capital and wealth, the good and the bad aspects of credit, as well as how politics and central banking affect the supply and value of funds. The second part looks more closely at why money matters, considering both its history and future. One of Wheelan's strengths is his examination of complex ideas boiled down into understandable terms that will have readers laughing. Wheelan's absorbing style and way of finding humor in any subject will make this book very popular. VERDICT Ideal for general readers and those seeking a deeper understanding of money, politics, and the economy. [See Prepub Alert, 10/19/15.]--Elizabeth Nelson, McHenry Cty. Coll. Lib., Crystal Lake, IL © Copyright 2016. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

An economist and bestselling author examines the nature, utility, and power of money. Say this for Wheelan (Public Policy/Dartmouth Coll.; Naked Statistics: Stripping the Dread from the Data, 2013, etc.): he knows how to conduct a class. Well before tackling difficult topicswhy Japan tolerated two decades of deflation, why the United States and China are in an "unhealthy codependency," why the structural infirmities of the euro were baked in, why the gold standard is the key to understanding the Great Depressionhe's careful to lay the groundwork, introducing and defining terms and offering a potted history of the financial crises that have plagued American capitalism. Before exploring the mysteries of bitcoin or explaining the challenge of modern monetary policy, Wheelan has already managed to keep his students interested and on task with his consistently good humor and lively use of real-world references: he spotlights the proliferation of frequent flier miles to explain inflation, uses a list of Hollywood's highest-grossing movies to mark the distinction between "nominal" and "real" figures, cites the cost of a Big Mac to measure market basket prices among nations, explains how pouches of dried mackerel qualify as currency in prison, and invokes It's a Wonderful Life to illustrate a financial panic. Still, the author keeps to his serious purpose, making clear, for example, the difference between liquidity and solvency, the power of credit, the nature of exchange rates, the necessity (and danger) of fiat money to a modern economy, and the importance of banks and of central banking in particular. Specialists will find little new or original herealthough they may well be interested in the high marks Wheelan gives Ben Bernanke for navigating the 2008 crisisbut general readers will welcome this wonderfully down-to-earth treatment of a subject too often the exclusive province of experts. A fun, informative introduction to a persistent problem: how to get money "right." Copyright Kirkus Reviews, used with permission.

Naked Economics. Naked Statistics. And now Naked Money, Dartmouth professor Wheelan's crystal-clear explanation of why money exists, how banks and monetary systems work, and the kind of trouble it can causes for small fry and grand nations alike.

After tackling economics and statistics, Wheelan (senior lecturer & policy fellow, Rockefeller Ctr., Dartmouth Coll.; Naked Economics) turns his attention to money. Currency is central to everyday life, but many people may not really understand what it is and is not. The text is divided into two parts. The first attempts to define money, including the differences between capital and wealth, the good and the bad aspects of credit, as well as how politics and central banking affect the supply and value of funds. The second part looks more closely at why money matters, considering both its history and future. One of Wheelan's strengths is his examination of complex ideas boiled down into understandable terms that will have readers laughing. Wheelan's absorbing style and way of finding humor in any subject will make this book very popular. VERDICT Ideal for general readers and those seeking a deeper understanding of money, politics, and the economy. [See Prepub Alert, 10/19/15.]—Elizabeth Nelson, McHenry Cty. Coll. Lib., Crystal Lake, IL