How We Misunderstand Economics and Why it Matters by Leiser and Shemesh

This book is used, but it is in very good shape. Binding is in great condition. No writing or highlighting on pages. The front bottom left corner has a small crease in it like it was dropped (see photo).

This is the first book to explain why people usually misunderstand economic phenomena. From the cognitive shortcuts we use to make sense of complex information, to the metaphors we rely on and their effect on our thinking, this important book lays bare not only the psychological traits that distort our ability to understand such a vital topic, but also what this means for policy makers, and civil society more widely.

Accessibly written, the book explores the range of cognitive strategies laypeople employ when thinking about money, finance, and the wider economy. From the internationality fallacy, whereby all economic phenomena are assumed to have been caused deliberately rather than to have come about by the interplay of different factors, to the role of ideologies in framing how economic thinking is expressed, the book discusses how we interpret important issues such as unemployment, inflation, and how we conceive of money itself.

Exposing the underlying biases and assumptions that fatally undermine financial literacy, and concluding with recommendations for how policies and ideas should be framed to enable a clearer understanding, this will be essential reading not only for students and researchers across psychology and economics, but also anyone interested in progressive public policy.