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Visible Hand: A Wealth of Notions on the Miracle of the Market
To most people, the word economics sounds like homework. In Visible Hand, Wall Street Journal op-ed editor Matthew Hennessey brings basic economic principles vividly to life in plain English, without resorting to numbers, graphs, or jargon. This isn't Fed policy or the stock market. This is the essential stuff: supply and demand, incentives and tradeoffs, scarcity and innovation, work and leisure. A teenager should be able to discuss these things intelligently. Sadly, too few of us can explain them even in adulthood. Visible Hand equips readers with the essential vocabulary necessary to understand and explain how we make the choices we do. In Hennessey's hands, economics is far from the dismal science. It's the sparkling art of decision making. No homework necessary.
288 pages, ebook
Published April 12, 2022
About the author
Matthew Hennessey
2 books8 followersMatthew Hennessey is the Wall Street Journal's deputy op-ed editor and the author of "Zero Hour for Gen X: How the Last Adult Generation Can Save America from Millennials" (2018) and "Visible Hand: A Wealth of Notions on the Miracle of the Market" (2022).
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Displaying 1 - 11 of 11 reviews
June 11, 2023
The book in one sentence: "market fundamentalism in a small package."
At its best, explaining the nature of economics as the study of choices and how trade-offs are inherent to the economic experience. At its worst, trite comments about how socialists and the far right are the worst, because they don't appreciate markets. But it doesn't really give enough credit to critics on the left or right to really address *why* those criticisms exist, merely by giving dime store explanations of surface-level economic principles it's expected of the reader to find self-evident the market fundamentalism of the author as the True and Correct position.
This kind of casual disengagement with critics is part and parcel of why those criticisms strike so strongly — that markets are, in the words of legal antitrust scholar Chris Segers "machines that create pain." That pain drives entrepreneurs to strive, for working parents to put food on the table, for inventors to create. But by refusing to even justify its existence the market fundamentalists unfortunately help politically weaken the case for robust competitive markets for the public good.
Ultimately, this book would have been better if it were just an attempt to explain economic principles with the delightfully charming stories of family and the innocence of youth (which was done very well in the first part). The later part fails in making a political case for the market, merely because it fails to address opponents as anything but strawmen of opponents' actual beliefs. And there is a necessity to make that case, politically, for markets that a book like this just does not. The "miracle of the market" needs defenders, for sure, but in this book Hennessey does not make a good one.
At its best, explaining the nature of economics as the study of choices and how trade-offs are inherent to the economic experience. At its worst, trite comments about how socialists and the far right are the worst, because they don't appreciate markets. But it doesn't really give enough credit to critics on the left or right to really address *why* those criticisms exist, merely by giving dime store explanations of surface-level economic principles it's expected of the reader to find self-evident the market fundamentalism of the author as the True and Correct position.
This kind of casual disengagement with critics is part and parcel of why those criticisms strike so strongly — that markets are, in the words of legal antitrust scholar Chris Segers "machines that create pain." That pain drives entrepreneurs to strive, for working parents to put food on the table, for inventors to create. But by refusing to even justify its existence the market fundamentalists unfortunately help politically weaken the case for robust competitive markets for the public good.
Ultimately, this book would have been better if it were just an attempt to explain economic principles with the delightfully charming stories of family and the innocence of youth (which was done very well in the first part). The later part fails in making a political case for the market, merely because it fails to address opponents as anything but strawmen of opponents' actual beliefs. And there is a necessity to make that case, politically, for markets that a book like this just does not. The "miracle of the market" needs defenders, for sure, but in this book Hennessey does not make a good one.
June 8, 2022
A light read covering some of the economic topics is a storytelling manner. Some of the stories are a bit long and slow to making their point. Might be appropriate for a young teen to read and discuss with parents.
June 29, 2022
Annoying book! I only got into the 2nd chapter before I gave up on it. It seemed like every other paragraph, the author incessantly repeats that he is not qualified to discuss the subject of economics and the reader shouldn't really be listening to him! Huh?
July 10, 2022
this is not the kind of book I usually read, but I was intrigued. It was funny, and very informative and and instructive. I can't say I know everything about economics, but I do have the basics down. I enjoyed this book very much.
February 5, 2023
A humorous and light primer on economic concepts like opportunity cost, scarcity, preferences, and price controls that sees capitalism as a good idea. My kids enjoyed listening when they happened to be around. The narrator is excellent.
March 20, 2023
A nice overview of economics in common English (mostly). For me, there were a couple of concepts that could have used a little further explanation, but contains very good, real-life examples to explain the concepts involved.
June 12, 2022
Great introduction to economics.
September 21, 2022
This is a great book for teens (and adults) to help them understand the workings and benefits of a free market. Easy to understand, engaging and a great primer to an essential topic.
October 30, 2022
Not focused enough. At times a tribute to his father, and at other times some homespun economic lessons
March 6, 2023
Good introduction to economics, loved the stories and analogies. However, towards the end it became a bias apology to capitalism dismissing other systems.
August 1, 2023
This book is helpful if you don’t know anything about economics. If you’ve read one Thomas Sowell book then don’t waste your time reading this.
Displaying 1 - 11 of 11 reviews