Michael Goodwin

Stimulus plans: good or bad? Free markets: How free are they? Jobs: Can we afford them? Occupy Wall Street ... worldwide! Everybody's talking about the economy, but how can we, the people, understand what Wall Street or Washington knows--or say they know? Read Economix. With clear, witty writing and quirky, accessible art, this important and timely graphic novel transforms the dismal science of economics into a fun, fact-filled story about human nature and our attempts to make the most of what we've got ... and sometimes what our neighbors have got. Economix explains it all, from the beginning of Western economic thought, to markets free and otherwise, to economic failures, successes, limitations, and future possibilities. It's the essential, accessible guide to understanding the economy and economic practices. A must-read for every citizen and every voter.

How and Why Our Economy Works (and Doesn't Work), in Words and Pictures

Economix

Bryan Alexander

Economix is a fun hybrid: an introduction to economics and modern economic history as a graphic novel. It is engaging throughout.

Goodwin and Burr were clearly inspired by Larry Gonick's groundbreaking Cartoon History of the Universe, and say so in the afterward. As with that predecessor, Economix uses plenty of graphic novel technique to explain sometimes tricky concepts: repeated cartoon characters (historical figures, personified forces), visual gags, well chosen visualizations, a narrator character, etc. There's a similar mix of humor, empathy, and passion for the subject. For the same reasons it also reminds me of Scott McCloud's superb Understanding Comics.

Visually, it's quite compelling. Page layouts make sense, and panels are very clear. Tables and charts - the lifeblood of economic presentation - are not overwhelming, and are actually well chosen. Burr conveys emotion very forcefully, something that really helps make economic theory more engaging.

Structurally, Economix is largely a history of modern times. It begins in the 18th century with an introduction to Adam Smith, then races into the industrial revolution, before closely settling into the past 100 years. The focus is clearly the United States, with Goodwin and Burr taking gradually fewer trips abroad as the book progresses. (I appreciate the historical emphasis, as it matches my conviction that much of the discipline of economics is really a branch of history.)

Throughout the writer and illustrator show fine skills for concise explanation, a too rare ability in economics. Goodwin is also very up front about most of his biases, which is also welcome. Someone new to economic theory, or simply curious about terms and concepts, would find this a useful introduction. I also appreciate the concluding section, simply titled "The Revolt of the Rich", which frames history since 1980 as the rise of plutocracy.

However, content (rather than pedagogical) flaws irk me. Or rather, I disagree with key interpretations and emphases. The US-centric approach is understandable, given scope, but I wish they'd been up front about this. That strategy also leads to some weird timing, like not mentioning globalization until the chronology has approached the year 2000.

The treatment of Marx is shallow and ultimately dismissive, a stance I don't share, and one which leads the text to some awkward moments, like dismissing communists as insane. Given the author's pro-Keynesian stance, I would incline to seeing this as a liberal's opposition to economic radicalism. We can see more evidence of this from downplaying American labor activism and socialist movements, as well as the ways the book treats modern left movements (Occupy's suppression at the hands of Democratic party leaders is absent, even though Goodwin is sympathetic to the movement, for example) and views Bill Clinton as a would-be progressive hamstrung by advisors (a telling (mis)reading of 1990-1995).

At a personal level, I appreciated this much more for its pedagogy and use of the medium than for its content. I've been studying or tracking economics since the 1980s - much more seriously since 2008 - so most of this was familiar to me, although I did appreciate seeing someone who respects both Keynes and Smith apply their insights to the modern world (American liberals today tend to prefer Keynes, while conservatives hew to Smith).

Overall, recommended for three audiences: people looking for an introduction to economics, teachers looking for good multimedia pedagogy, and audiences interested in how graphic novels can work as nonfiction.

PS: there is also a website for the book, with extra content.

Vahe Taamazyan

New York Times bestseller Stimulus plans: good or bad? Free markets: How free are they? Jobs: Can we afford them? Occupy Wall Street . . . worldwide! Everybody’s talking about the economy, but how can we, the people, understand what Wall Street or Washington knows—or say they know? Read Economix. With clear, witty writing and quirky, accessible art, this important and timely graphic novel transforms “the dismal science” of economics into a fun, fact-filled story about human nature and our attempts to make the most of what we’ve got . . . and sometimes what our neighbors have got. Economix explains it all, from the beginning of Western economic thought, to markets free and otherwise, to economic failures, successes, limitations, and future possibilities. It’s the essential, accessible guide to understanding the economy and economic practices. A must-read for every citizen and every voter. Find teaching guides for Economix and other titles at abramsbooks.com/resources. PRAISE FOR ECONOMIX “Goodwin brilliantly contextualizes economic theories with historical narrative, while Burr’s simple but elegant illustration employs classical techniques like caricaturing politicians and symbolizing big businesses (as a gleeful factory) to help the reader visualize difficult concepts.” —Publishers Weekly, starred review “[Economix] brings a lively visual sensibility to this intensely abstruse subject matter without condescending to the reader or dumbing the ideas down.” —MotherJones.com “Flat-out awesome!” —Wired.com “This witty and elegant volume takes on a number of complex issues—in this case, economics, history and finance—and makes them comprehensible for mere mortals.” —Miami Herald “After reading Economix I felt like I understood many fundamental aspects about the way the world works that I had been too lazy to learn about before . . . Economix is a book I’m going to buy and give to people.” —Boing Boing “Having never taken economics in college, I find the world of high finance needlessly complicated and confusing. Thankfully Michael Goodwin saw the need for a basic primary on how the economy currently works and how we got here. A text like this would certainly help high school and college students gain their first taste of financial literacy and it comes recommended for the rest of us.” —ComicMix.com “Just when the world seems to have fallen apart thanks to the economy, Goodwin and Burr’s Economix comes along to give us some understanding of the immense, yet still ‘delicate machine’ that controls our world so that we can be the rulers with our votes and not the uninformed (or disinformed) ruled.” —BigThink.com “Michael Goodwin hasn’t just written a great graphic novel—he’s written one that should be required for every school, newsroom and library in the United States.” —Minneapolis Star Tribune “It’s simply phenomenal. You could read ten books on the subject and not glean as much information.” — David Bach founder of FinishRich Media; author of nine New York Times bestsellers, including Debt Free for Life and The Automatic Millionaire “Goodwin has done the seemingly impossible—he has made economics comprehensible and funny.” — Joel Bakan, author of The Corporation: The Pathological Pursuit of Profit and Power “An amazing lesson in true-world economics! Delightfully presented, powerful, insightful, and important information! What a fun way to fathom a deep and often dark subject!” — John Perkins, author of Hoodwinked and the New York Times bestseller Confessions of an Economic Hit Man “Smart, insightful, clear, and as close to the truth as economics can get. The bonus: Who would have guessed that economics could be fun, and—here's the joy—really accessible? Goodwin roots us in history and fills us with common sense understanding. As he puts it early on, economics seems horribly complicated mostly because we're looking at it all at once. Broken down into its component pieces, it's relatively easy to understand. And a good understanding of economics is critical to maneuvering in the world today. If I were compiling a list of the 100 most important books you can read in a lifetime, this would be on it.” —Stephen Petranek, editor-in-chief, Weider History magazines, former editor-in-chief of Discover magazine “Through a potent mix of comics and punchy, concise, accessible prose, Goodwin takes us on a provocative, exhaustively researched, and exceedingly engaging trip through our history and present day, creating an alternately hilarious and scary picture of where we are today as an economy— and what it all means. More than that, Goodwin makes the arcane, understandable. If your mind either spins or slumbers at the thought of economics, read Goodwin's Economix and all will become clear. —Nomi Prins, author of It Takes a Pillage: An Epic Tale of Power, Deceit, and Untold Trillions “Economix is a lively, cheerfully opinionated romp through the historical and intellectual foundations of our current economy and our current economic problems. Goodwin has a knack for distilling complex ideas and events in ways that invite the reader to follow the big picture without losing track of what actually happened. Any reader wondering how our economy got to where it is today will find this a refreshing overview.” —Timothy W. Guinnane, Philip Golden Bartlett Professor of Economic History, Yale University

Economix How and Why Our Economy Works (and Doesn't Work), in Words and Pictures

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