Book Review: In This Economy?
By Kyla Scanlon, 2024
This book is rather far afield from my usual reading. It is also rather far afield from my interests, to be honest. I’m a smart woman but when you say the word “economy” or “economics” I feel like my IQ immediately drops 200 points. The information simply does not stay in my head. It’s like those adhesive hooks that are supposed to be able to hold a bowling ball but fall down as soon as you put a hat on them. There is no traction here!
Imagine my surprise, then, that I found myself really enjoying this book a lot. Am I still me? How is this possible??
The fact is, Kyla Scanlon understands economics so well that she is able to break down complex concepts and explain them through humor and simple stories. Whether it’s the Federal Reserve, the stock market, or bonds, Scanlon’s stories and illustrations help break through any mental barrier you might have about really learning about our world economic system, at least as it exists today.
Experts may say the book is too goofy for such an important topic. Why are we talking about a fake culture and what they produce and another fake culture who buys those products? Why not just explain it like a high school teacher or college professor would? Well, that’s what makes this book accessible and delightful. It’s not just another textbook. All acronyms are spelled out, the history of today’s economy is explained thoroughly, and sometimes the illustrations and funny stories might even help the information stick to your oil-slick brain. It certainly did for me.
The only problem with this book, which may be great news for Scanlon, is that it will become outdated very quickly. The way the world is going right now, it might be outdated by 2027. Even so, knowing where things were and how the economy worked in 2024 will help us understand how we got to wherever we’re going.
The ultimate lesson Scanlon puts forth is that our economy is really based on feelings more than anything else. How people feel determines whether they will be in the mood to buy or sell. Are they in the mood to invest or do they want to have all of their money under their mattress? Do people feel like the economy is going well or do they feel like they are on the precipice of a disaster? After explaining all of the details, we have to also face the fact that where the economy is concerned, nothing is actually real. It’s all about the vibes.
Take it from me, who could not believe I was spending any of my free time reading a book about the economy, this book is worth it, and great to read as a family or in a book club. I hope you like it as much as I did!