Crunch: Why Do I Feel So Squeezed? (and Other Unsolved Economic Mysteries)

I've always wondered whether I should believe the pundits who insist on "letting the free market take its course," and about why positive economic indicators don't seem to reflect the way people are really living. It never made sense to me. In Crunch, Jared Bernstein explains that the reason accepted economic wisdom doesn't always make sense is that some of it is just plain wrong. One of the things I loved about this book is that it explains economic principles--as well as the motives of those who try to misrepresent them for their own purposes--in terms a non-economist can understand. I feel like I got an in on the knowledge that the experts had been hoarding for themselves. One of Bernstein's key arguments is that economics is about power, and in sharing this information he gives power back to those of us without PhDs in Economics. Another thing I really liked is that this book doesn't stop with what's wrong. The author offers insights about and suggestions for how we can change to work through really big economic problems like health care, social security, and globalization.

Having long ago forgotten my college economics, I've been trying to make sense of the current talk of recession and the various stimulus proposals put out by politicians. Something about the viewpoint expressed by cable news pundits and economic leaders hasn't added up for me, but I couldn't articulate why. Jared Bernstein can and did in his book Crunch. In clear language, he explains how the current squeeze happened and gives the tools for evaluating how various issues--social security, globalization, immigration, and more--affect my pocketbook and what would move us towards, or away from, a fair society.

Went to see Jared Bernstein speak last Saturday and left feeling surprisingly uplifted despite the doom-and-gloom economic analysis. Being a member of the middle class myself, I can fully endorse his description of the "crunch" and I am already a firm believer that wealth distribution is a core problem in our society -so I wasn't expecting more than an endorsement of what I already believe. However, I came away feeling energized by his organizing theme that with knowledge we can "rechannel the power of economic analysis back to the service of those who need it most: the ones in the vise grip of the crunch." He has a great command of the telling economic detail & certainly gave me fact-fodder for a dozen arguments with 'fiscally conservative' relatives - but I found his interweaving of economic and policy ideas to be particularly compelling. Plus, his enthusiasm for his subject and his sincerity are infectious - so I bought the book. It hasn't disappointed. A well-written, easy to digest analysis with compelling arguments on every page. I'm ready to "rechannel the power."

I can finally understand what all the doublespeak in economic circles actually means to me - the average citizen. I also appreciate this author's wit and humor. I feel like I am speaking to a really smart economist buddy, not some snooty know-it-all who makes me feel bad for not knowing the terminology or maths behind it all.

Finally - a book about the economy for non-economists! Jared Bernstein's clear and compelling approach to economic mysteries is a breath of fresh air amidst an atmosphere stagnant with jargon and so-called experts convoluting the issues. Crunch takes the spin out of statistics and explains what all those numbers really mean - and how politicians and the media can use (and misuse) them for political purposes. The book is structured around the author's answers to real questions from real people, which I greatly appreciated, having asked many of those questions myself and never before received a satisfactory answer. Crunch is truly inspirational - not only do we all have the ability to understand complex economic principles, but we have the power to see through media hype and make our own decisions about the best policies to get our flailing economy back on track.