Charles Wheelan Naked Economics Summary

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The second half to Charles Wheelan’s first chapter of Naked Economics: Undressing the Dismal Science, is much like it’s first half. However, it comes off as more abridged. Wheelan talks about more things at a lesser scale in the last ten or so pages than he did in the first sixteen. It still conveys the same message started in the first, a brief introduction to economics. Some of the topics mentioned are that even with fixed prices firms will find other ways to compete and how transactions make everyone better off. To start, one of the abridged points Wheelan makes is how fixed prices won’t stop competition. The example he uses is airplane fares, which is a good example itself. Before, airline tickets were absurdly expensive. Not many Americans

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