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Book Hack
How Economics Explains the WorldBy Andrew Leigh

In a Nutshell

Economist Andrew Leigh outlines the history of economics to show how capitalism has shaped the world and how it underscores some of the greatest challenges we face today, from climate change to AI technology.

Favorite Quote

Since most of us will not become economics researchers, the biggest contribution of economics is in helping us to live a better life.

Andrew Leigh

Introduction

Economics is at the heart of our work, our play, and how we move around the globe.

The history of economics is a lens we can use to better understand our world, current events, and many of the issues we face as modern humans.

Andrew Leigh is a member of the Australian House of Representatives and an economist with a Ph.D. in public policy from Harvard University.

In his 2024 book, How Economics Explains the World, Leigh provides a basic timeline of the history of economics and explains how we can use economics to consider our options and values, especially regarding what we need and how that impacts our lives and the lives of those around us.

Here are the 3 key insights from this Hack

  1. 1.
    Early on, economics was driven by matters of practicality
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