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Naked Economics: Undressing the Dismal Science

(Naked)

Charles Wheelan

4.02 · Rating details · 17,122 ratings · 1,169 reviews

At last! A new edition of the economics book that won’t put you to sleep. In fact, you won’t be able to put this bestseller down. In our challenging economic climate, this perennial favorite of students and general readers is more than a good read, it’s a necessary investment—with a blessedly sure rate of return. This revised and updated edition includes commentary on hot ...more

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Paperback, 400 pages

Published January 1st 2019 by W. W. Norton Company (first published 2002)

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Jan 25, 2009 Meg rated it it was ok · review of another edition

Shelves: economy, half-read-or-hibernating, non-fiction

A highly ideological piece masquerading as a non-controversial introduction to economics. Wheelan proclaims that economics is amoral and apolitical, and then goes on to give very detailed political descriptions about what government should be. He also seems attached to the false dichotomy of 'free' markets vs. communist state economies - though he does recognize that the neoconservative vision that markets will operate efficiently without government is, as he puts it, 'nonsense.'

I wanted to rea A highly ideological piece masquerading as a non-controversial introduction to economics. Wheelan proclaims that economics is amoral and apolitical, and then goes on to give very detailed political descriptions about what government should be. He also seems attached to the false dichotomy of 'free' markets vs. communist state economies - though he does recognize that the neoconservative vision that markets will operate efficiently without government is, as he puts it, 'nonsense.'

I wanted to read this book in part because it has been so well read by many people my age, many who draw their primary arguments about economics and politics from Wheelan and others like him. Thus far, it has reinforced my impression that economists tend to lack any understanding/analysis of power in their work, and furthermore, that they could all stand to study a little ethics and anthropology, as well as some non behavioristic/deterministic psychology. There is little sense of the way cultural norms and social institutions shape human action, or the possibility for truly deeper understandings of human motivations for action beyond simple strivings for 'utility.' Yes, he tries to provide a definition for 'utility' beyond simply maximizing wealth, but all of his examples tend to flatten utility down to a question of price.

I actually finally put the book down because it was getting too annoying. Probably the most annoying argument, for me, was the standard 'sweatshops are good for people because otherwise they wouldn't have jobs.' The inadequate reasoning in such a statement has always baffled me. It assumes that what people need are jobs. This, in fact, is not the case. People need food and shelter and a decent quality of life. It so happens that currently, having a job is the predominant way many people gain access to food, shelter, and a decent quality of life. But sometimes - like for many people who work for close to little pay - a job does not in fact help one gain access to this, and instead traps one into a cycle of ever-tightening dependency on your employer while you live an increasingly impoverished and increasingly controlled life. Is this better than being impoverished but independent? I tend to think not.
...more

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Jun 01, 2007 Christopher rated it it was amazing · review of another edition

Shelves: loveit

Why did the chicken cross the road? To maximize his utility!

If you like this joke as much as I do, congratulations! You're an uber-nerd, and this is the perfect book for you. If you don't like the joke, stay away from my parties. Either way, this book is a very thorough, very clear explanation of a good foundation of economic principles, written with the non-Economists among us in mind. Why are tariffs bad? In what ways are sweatshops good? Why does everyone care so much about interest rates, an ...more

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Sep 30, 2008 Serene rated it liked it · review of another edition

Shelves: history-politics-and-sociology

Apart from news articles, the last time I read any book on economics was high school. I found Naked Economics explained how Western (primarily US) economic systems worked in very simple, easy to understand language. Particularly in these troubled times, learning how the Federal Reserve and other government agencies try to tweak the economy to encourage fairness and stability. He is unabashedly pro-trade and explains his stance well, which helped me to understand it, though I can't say he address ...more

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Apr 17, 2007 Carl rated it it was amazing · review of another edition

Recommends it for: people who want to feel smarter

"Charles Wheelan Tells It Like It Is" would be an equally appropriate title for this fucking awesome overview on all things economic in this world. As someone who's read more than a few of the popular economics books currently glutting the market, and as a economics major in college, I was skeptical that this book could teach me anything I didn't already know or entertain me with wry anecdotes. What surprised me was actually that: the wry anecdotes and useful explanations such as what "fast-trac ...more

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Apr 08, 2012 Dan Phillips rated it really liked it · review of another edition

Shelves: 2012

When I got into the second half of this book, I was joking with Amy that the experience was threatening to turn me into a Republican. Which was especially odd since the beginning chapters made me realize instantly how politically agnostic the actual science of economics is. Like any discipline, it's just another framework through which one can view -- and hopefully understand -- the world. (And there are plenty of lefty economists out there -- I subscribe to Paul Krugman's blog already, so...)

I' When I got into the second half of this book, I was joking with Amy that the experience was threatening to turn me into a Republican. Which was especially odd since the beginning chapters made me realize instantly how politically agnostic the actual science of economics is. Like any discipline, it's just another framework through which one can view -- and hopefully understand -- the world. (And there are plenty of lefty economists out there -- I subscribe to Paul Krugman's blog already, so...)

I'd picked this book out specifically because reviews and blurbs hailed it as a straightforward, chart-free, plain-English introduction to the subject. And I have to agree that not only was it easy to understand, it was provocative, especially when raising theoretical scenarios that pitted markets against regulation. Wheelan doesn't really take sides in that battle; he has no political axe to grind at all. If anything, he's on the side of economic growth for all citizens...and common sense.

Which brings me back to the Republican joke. I really appreciate Naked Economics' refusal to politicize these issues, or to dumb them down in any way. The decisions we make, the decisions our elected officials make (and even the unelected ones -- like the Federal Reserve Chairman) are far more nuanced and difficult than any left/right tug-of-war. I wish our politicians could digest these on a case-by-case basis, but it seems like our governments are run by warring anti- and pro-market idealogues. Conversely, Wheelan posits that governments and markets actually need each other to work as efficiently as possible. Of course, that would mean compromise, and we can't have that in Congress or anywhere else, can we?

But don't get me wrong; Naked Economics is also even-handed in explaining the basic principles of "the dismal science," only broadening its scope to real-world applications about halfway through. Overall, this was a surprisingly fascinating read, and I'd recommend it to anyone who, like me, is basically clueless about economics, and is hesitant to study it because it's supposedly something only conservative people need to know about. Well, I'm living proof that you can learn a bit about economics without a hard pivot to the right... ...more

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Nov 23, 2017 Charles Haywood rated it really liked it · review of another edition

Sometimes I think it is a fool’s errand to study economics and hope for enlightenment. Much economics knowledge is too simple for that goal—for example, the relationship of supply and demand to prices. Such facts are easy to grasp through direct personal experience. But beyond that, actual enlightenment never comes, because, as everybody knows, economics is not a science. Economists can’t even analyze the past with any precision or unanimity, much less the future. Because I thought highly of the ...more

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Jun 13, 2014 Ali Gilani rated it really liked it · review of another edition

The book is an interesting primer on economics. It is no doubt ideological but the author has given strong arguments for the ideological position he has taken. The book, however, is limited as it is only good for understanding market based economy. It doesn't shed light on feudalism and tribal societies economics and the complex socio-political and economic relations such societies wield. Apart from such limitations, the book convincingly give arguments for free trade, globalization and market b ...more

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Oct 03, 2012 Rose rated it really liked it · review of another edition

Shelves: non-fiction

Scariest book I've read in a while. Econ for people who never took Econ in school, what were we thinking?! A good read for anyone, a must read for young adults. Start investing, kids. ...more

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Sep 02, 2009 Billie Pritchett rated it it was amazing · review of another edition

Shelves: economics

UPDATE (06/08/13):
I reread Charles Wheelan's Naked Economics, revisiting it now about four years later. It is still one of my favorite books, but I do have a more modest perspective of it now. I'll try to provide a better summary of Wheelan's book than I did four years ago.

A market economy is really just a name for the transaction of buying and selling goods and services, and the scarcer the goods and services and the more demand, the more people are willing to pay for them. This explains in par UPDATE (06/08/13):
I reread Charles Wheelan's Naked Economics, revisiting it now about four years later. It is still one of my favorite books, but I do have a more modest perspective of it now. I'll try to provide a better summary of Wheelan's book than I did four years ago.

A market economy is really just a name for the transaction of buying and selling goods and services, and the scarcer the goods and services and the more demand, the more people are willing to pay for them. This explains in part why LeBron James makes more money than I do. There are fewer people who play basketball exceptionally well than can teach, which is what I do (and remember, teachers are not paid on a sliding scale where the better teachers make more for their outstanding performance). So LeBron James's skills are scarcer, mine are not. Note, by the way, this is not making a value judgment. It is an explanation of the pay disparity. And it is unlikely that the demand would be there for LeBron James's basketball talents were we living in the 18th century, in which case I would have more human capital than someone who can put a ball in a hoop.

Human capital, by the way, is often neglected when thinking about practical economic matters. Here is a rough way to determine your human capital. Consider your work experience, in the different fields in which you've worked. Consider also the degrees you have. Consider also your had and soft skills: Hard skills for a poet, for example, would be knowing how to compose a sonata, whereas soft skills would be something like being a good public speaker (a little more difficult to determine, but which you might think you have abilities with). And consider your life experience: Where have you gone? What have you done? What kind of person does this reveal? Add all that together--work experience, educational experience, life experience, and skills. Now think of the jobs you would best be able to be of service to given your experience and skills. And ask yourself these questions: Is there a demand for more people in these professions or is this profession bloated? How would I compare, in terms of my experience and skills, with other people who would also be looking for these jobs? And if any of these jobs require examinations, compare your examination score to the average, another important determining factor. This is a rough and rocky way to measure your human capital, essentially, for better or for worse, your economic worth. Unfortunately, for many workers vis-a-vis the economy, it is difficult for people to find new jobs if they lose old ones because they don't have very much human capital (that is, their experiences and skills just aren't valued economically).

There are other important lessons in this book, but if you take away any two, for my money, it'd be the ones above: what a market economy is and what human capital is. Your interests may vary.

REVIEW AS OF (09/03/09):
The book promised a good explanation of economics, and it delivered. Author Charles Wheelan conveyed the basics of economic theory and discussed the myriad ways in which economic theory has direct and indirect impacts on everyone's lives. Especially enjoyable were his demonstrations backed by the data that without good government and good regulatory policy, a good, functioning economy is impossible; there can be no good economics without good government. Wheelan also argues for certain social policy positions, and any reader is likely to disagree with him at some points and for seemingly good reasons. However, Wheelan makes clear that these are his positions and that social issues that converge with economic issues are always up for debate. Indeed, that's all part of the dynamism of social and economic life generally. Yeah, read this book. It's a humdinger. ...more

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Feb 08, 2017 Anima rated it it was amazing · review of another edition

"One of the fallacies of poverty is that developing countries are poor because they have rapid population growth. In fact, the causal relationship is best understood going the other direction:Poor people have many children because the cost of bearing and raising children is low. Birth control, no matter how dependable,works only to the extent that families prefer fewer children. As a result, one of the most potent weapons for fighting population growth is creating better economic opportunities f ...more

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Jul 15, 2015 Jeeministerofpartying rated it it was ok · review of another edition

I would like to thank my AP Economics teacher for recommending such a piece of shit :) It was a time well spent!

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Jan 28, 2008 Adrian rated it it was ok · review of another edition

Great primer on the often dull world of economics. No charts, calculus, or arcane math, lots of good examples of problems and issues that we all are affected by but don't have much understanding of. Things like the Fed, interest rates, trade balances, taxes, etc are covered and made easy to process. My biggest problem is the lack of discussion of things like outsourcing, debt, and currency issues and how they are actually affecting our economy. I'd like to see a book that is not so theoretical o ...more

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Dec 11, 2020 Shreya rated it liked it

I may or may not have just skimmed it instead of reading it.

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Aug 03, 2014 James Millikan SJ rated it it was amazing · review of another edition

Shelves: economics

If you are like me, you have a vague sinking feeling from not having the gumption to pick up, let alone complete, Thomas Piketty's Capital in the Twenty-First Century. You know somewhere deep down inside that an impressive tome by an erudite French economist would be just the ticket to help you thoughtfully contribute to the conversation at that gathering of MBAs, or progressives, or rich relatives that you somehow find yourself attending over the year. But you also know that, given the choice b If you are like me, you have a vague sinking feeling from not having the gumption to pick up, let alone complete, Thomas Piketty's Capital in the Twenty-First Century. You know somewhere deep down inside that an impressive tome by an erudite French economist would be just the ticket to help you thoughtfully contribute to the conversation at that gathering of MBAs, or progressives, or rich relatives that you somehow find yourself attending over the year. But you also know that, given the choice between plowing your way through the Picketty text and doing most anything else that is even remotely stimulating, reading a 577 page treatise on the finer points of political economy will lose out every time.

It is in this sort of everyday occurrence of semi-rational people facing tradeoffs about how to allocate their scarce resources that Wheelan's Naked Economics finds its voice. The book lucidly describes the key points of neoclassical economic thought in an informative, well-reasoned, and even entertaining way. This is not a towering achievement of pioneering research; most ideas presented have been around for centuries. This is not a gripping tale of powerful economic structures that perpetuate an unjust world order; the book mainly describes the economic principles that undergird policy decisions that generally engender mainstream approval. And this is not a dense, academic text requiring a careful read--eyes strained, hunched over a desk with a pen in hand; it is a light, yet illuminative, overview of concepts that are all too often obfuscated by social science technocrats.

This book isn't destined to live on as a classic of economic thought, and that's OK. It succeeds wonderfully in what it sets out to do: presenting some very important ideas in a way that doesn't put you to sleep. So, quit beating yourself up for not living up to your self-image as a refined, self-educated intellectual, and read a book that you will enjoy and will teach you something new. Naked Economics is a good place to start. ...more

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May 04, 2021 Maureen rated it it was amazing

Isn’t it fascinating that an emotionless discipline like economics can make people so incensed that they send economists hate mail? This is just one of the fun tidbits I learned from this compelling deep dive into basic economics. The book is full of anecdotes, studies, and examples (including the 2007 recession) that bring economics to life and make it approachable, interesting, and provocative.

For some reason Econ 101 was not a required course in the Humanities Department 😂 and I am pleased to ...more

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Mar 03, 2009 Kathy rated it really liked it · review of another edition

If you are interested in learning about economics but find the topic somewhat confusing and boring, this book breaks down the major concepts in a way that makes it interesting and understandable. Wheelan is a witty and sarcastic man which added greatly to his stories and real life examples he used when supporting topics within economics. I am highly interested in developmental economics and his chapter on this topic broke down common misconceptions that people may have about developing countries ...more

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Oct 22, 2015 Ari von Nordenskjöld rated it really liked it · review of another edition

This is a fantastic economic primer which skillfully introduces the reader to the most important economic concepts in a humorous and mostly detached manner. There are of course some minor things that I would take issue with, especially some simplified categorizations - but I trust that Wheelan is quite aware of this and has not done this in order to shoehorn any of his own ideas, but rather to make life simpler for the reader. I'm now working my way through more complex books on economics, which ...more

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Aug 08, 2020 - ̗̀ Riki ̖́- rated it did not like it

This dude is so stupid.... UGH

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Jul 29, 2009 Adam rated it really liked it · review of another edition

Recommends it for: People who buy things, Anti-capitalists, Kim Jong-Il, College Students, Irrational people

Recommended to Adam by: Nate

Shelves: non-fiction, economics

Grabbed this one from a friend, Nate, who kept a hold of it long after his Econ 101 course and, well, I'm glad he did!

Wheelan starts of by addressing the fact that many students who are forced to take Econ 101, or even do so by choice, are instantly turned away from the subject by dry texts, boring teachers and a heavy dependence on the mathematical aspects of the science.

In Naked Economics, Wheelan promises to not only offer a broad overview of this overlooked science but do so in turn without Grabbed this one from a friend, Nate, who kept a hold of it long after his Econ 101 course and, well, I'm glad he did!

Wheelan starts of by addressing the fact that many students who are forced to take Econ 101, or even do so by choice, are instantly turned away from the subject by dry texts, boring teachers and a heavy dependence on the mathematical aspects of the science.

In Naked Economics, Wheelan promises to not only offer a broad overview of this overlooked science but do so in turn without a single graph, chart, or formula. Miraculously, he does. There are a few formulas discussed and one or two graphs are brought up but, never shown. To be honest, it might have been nice to see 'em but at least we know Wheelan is a man of his word!

Naked Economics is I guess what I would call a very American book. It, perhaps rightly so, puts capitalism on a pedestal and from there, goes on to explain how this system functions and what needs to be done in order to make a free-market work.

As a student of the social sciences, I really enjoyed how Wheelan address the fact that often times the best economic decision is simply not politically viable. A good portion of the book actually address the conflicting goals of markets and governments, which should, in theory, be looking out for their citizens well-being in not purely economic terms.

Having taken economics in both high school and college, reading this book was the first time that I ever really got excited about the subject and it's potential for well, everything. Nate likes to talk about how econ is kinda like the science of everything which Wheelan does a great job of explaining in a much more articulate manner than Nate does!

I would certainly recommend this book for any student of the subject and will likely end up reading over chapters of it again in the future when I'm super important and have impending economic decisions to make.

Oh yeah, and Wheelan repeatedly address the fact that one of the most basic solutions to, well, almost every prolem is simply education. A theory that I've ascribed too since as long as I can remember. It's just good to hear it from people that matter! ...more

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Dec 11, 2015 Yahia El gamal rated it really liked it · review of another edition

I love how Charles Wheelan explains concepts. But sometimes I hate how he goes over and over about explaining some concepts.

The book is a great read to anyone who has any remote interest in how the world of economics works. This is the first economics-related book I read, but it won't be the last. It shows how economics affects global decisions (and how decisions affect economics) as well as the micro and individual level.

I feel so much enriched after reading the book, and I am going to read sl ...more

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Aug 24, 2015 CherDuchess rated it really liked it · review of another edition

The title itself of the book is intriguing, but reading the book is funnier than people would think just hearing the word “economics”, because lets face it for some students even professionals the topic economics is boring. This book is a surprise, I had fun reading this that I was not able to put it down. As Book Magazine said “Explains our global economy in a way that is (gasp!) actually entertaining.”, with that kind of review who in their right mind would not be allured in reading this book. ...more

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Jul 01, 2015 Jessica Carol rated it it was amazing · review of another edition

Shelves: academic-life

For a book on economics I found this hilarious. It wasn't hilarious in the sense that he didn't know what he was talking about but hilarious in that he made writing about economics funny--his writing style is the key. He is very knowledgeable about his topic and I found myself thoroughly enjoying it because he didn't bore you. His writing was engaging, humorous, thorougly researched, instructive, and knowledgeable. If you want to learn more about economics I suggest this book. ...more

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Jan 19, 2009 Lobstergirl rated it liked it · review of another edition

Shelves: economics, own

A basic and informative introduction to economics with no equations, charts, graphs, and not many numbers. Sometimes the breezy journalistic style gets annoying, but overall, a decent book.

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Apr 10, 2021 Andrei Iulian Luca rated it it was amazing

First of all, this is definitely not a 5 star book but I really appreciate the fact that it does what it says.The book presents every major aspect of an economy based on capitalism.The author is an American and even got involved in politics, so you should expect a very subjectivist point of view on how the economy should work under capitalism.Although he is a militant of it and globalization he underlines a few problem of them and also shows a few ideas about future.

A fun quote:
"Paul Krugman has First of all, this is definitely not a 5 star book but I really appreciate the fact that it does what it says.The book presents every major aspect of an economy based on capitalism.The author is an American and even got involved in politics, so you should expect a very subjectivist point of view on how the economy should work under capitalism.Although he is a militant of it and globalization he underlines a few problem of them and also shows a few ideas about future.

A fun quote:
"Paul Krugman has nicely summarized the anxiety over globalization with an old French saying: Anyone who is not a socialist before he is thirty has no heart; anyone who is still a socialist after he is thirty has no head."

"The market economies of the developed world lie along a continuum, with America at one end and the relatively paternalistic European economies, such as France and Sweden, at the other. Europe offers the kinder, gentler version of a market economy—at some cost. In general, the European nations are more protective of workers and have a more substantial safety net. Generous benefits are mandated by law; health care is a birthright. This leads to a more compassionate society in many ways. European poverty rates, particularly for children, are far lower than those in the United States. Income inequality is lower, too.
It also leads to higher unemployment and a slower rate of innovation and job creation. Workers, bundled with lots of mandatory benefits, are expensive. Since employees cannot be fired easily, firms are slow to hire them in the first place. Meanwhile, generous unemployment and welfare benefits make workers slower to take jobs that might be offered. The result is what economists refer to as a “sclerotic” labor market. During normal economic times, European unemployment rates tend to be significantly higher than the American rate, particularly for youth.
The American system is a richer, more dynamic, more entrepreneurial economy—and harsher and more unequal. It is conducive to creating a big pie in which the winners get huge slices. The European system is better at guaranteeing at least some pie for everybody. Capitalism comes in all kinds of flavors. Which one will we choose?" ...more

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Oct 17, 2017 Michael Cabus rated it it was amazing · review of another edition

I don’t consider myself ignorant of economics. I did in fact study economic history in college and did quite well in the one MBA course (accounting) I had to take for my graduate degree. Not that any of those qualifies me as an economist (or even impresses anyone) but I came to this book with some background. The part I did not really understand was economic policy. Before this book I only knew what politicians expounded upon around election season (typically a promise to lower taxes and a hint ...more

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Jun 23, 2019 Brendan Grubb rated it it was amazing · review of another edition

The most important thing to know about me and this review is that I love economics. If you would prefer to read a review by someone who was not predisposed to appreciate this book, then this is not the review for you. I had a feeling when I began this book that it would be one that I was almost guaranteed to enjoy it, and it did not disappoint.

That said, it earned a five-star rating for a reason. Everything in the book was thoroughly explained in a concise and understandable way, and Wheelan nev ...more

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Mar 27, 2019 Sam Reaves rated it really liked it

Making economics accessible to the non-economist is a formidable task, but it's a crucial one in a democracy, because economic illiteracy is the bane of sound public policy, and the people shouting the loudest on both sides of the political divide are the ones most afflicted by it. I modestly consider myself reasonably economically literate, but I learned a good deal from this excellent layman's guide by The Economist's former Midwest correspondent.
There are, thankfully, no graphs or tables in t ...more

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Nov 11, 2021 Sharanya Sarathy rated it it was ok · review of another edition

Economics can be a dense and heavy subject, and the author does an admirable job trying to liven it up and give concise and clear examples of the way economics affects our lives (2 stars)

However, his unending obsession with Seattle (chill my dude), his endorsement of sweatshops and child labor, and his callous dismissal of the problem of environmental externalities (-3 stars for above) did not endear this book to me.

I think there are better books out there, and probably much more recent and cu ...more

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Feb 13, 2022 Degenerate Chemist rated it did not like it · review of another edition

Shelves: economics

Its a decent enough overview of the first semester of Econ 101, but the author is a potato.

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Jan 08, 2022 Eric rated it liked it

Naked Economics is a solid re-introduction to familiar and often misunderstood economics concepts for the layperson like me. Wheelan makes good on his word to not use jargon and charts in his explanations and instead provides real-world examples to help readers develop a deeper understanding and nuanced intuition of terms that get thrown in the news all the time like interest rates, inflation, tariffs, and more.

In this edition he further contextualizes these ideas in the most important economic ...more

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About Charles Wheelan

Charles Wheelan

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Charles Wheelan is a senior lecturer and policy fellow at the Rockefeller Center at Dartmouth College. He joined the Dartmouth faculty fulltime in June of 2012.

Wheelan’s most recent book, Naked Statistics: Stripping the Dread from the Data, was released by W.W. Norton in January of 2013. Three weeks later, it reached the New York Times bestseller list for hardback nonfiction. The San Francisco Chr Charles Wheelan is a senior lecturer and policy fellow at the Rockefeller Center at Dartmouth College. He joined the Dartmouth faculty fulltime in June of 2012.

Wheelan’s most recent book, Naked Statistics: Stripping the Dread from the Data, was released by W.W. Norton in January of 2013. Three weeks later, it reached the New York Times bestseller list for hardback nonfiction. The San Francisco Chronicle called it a “brilliant, funny new book.” The New York Times described Wheelan as “the Dave Barry of the coin-flipping set.”

From 2004 to 2012, Wheelan was a senior lecturer in public policy at the Harris School of Public Policy at the University of Chicago. He taught several courses on understanding the policy process for Master’s students. For the 2004-05 academic year, he was voted Professor of the Year in a Non-Core Course by the Harris School student body.

In the fall of 2005, Wheelan created and taught the inaugural International Policy Practicum (IPP), in which 12 students studied economic reform in India for an academic term followed by a 10-day trip to Bangalore and Delhi to meet with economists, politicians, educators, civic leaders, and other experts. Subsequent IPPs have visited Brazil; Jordan and Israel; Turkey; Cambodia; and Rwanda and Madagascar.

In March of 2009, Wheelan ran unsuccessfully for Congress as the representative from the Illinois 5th District in the special election to replace Rahm Emanuel. In its editorial assessing the race, the Chicago Sun-Times wrote, “Voters will find a ballot filled with impressive and thoughtful candidates . . . especially Charlie Wheelan, a University of Chicago lecturer who combines a razor-sharp mind with a boatload of charm and an impressive expertise in economics and foreign policy. We expect great things from Wheelan in the future.”

Prior to joining the faculty at the University of Chicago, Wheelan was Director of Policy and Communications for Chicago Metropolis 2020, a business-backed civic group promoting healthy regional growth in the Chicago area.

From 1997 to 2002, Wheelan was the Midwest correspondent for The Economist. His story on America’s burgeoning ex-convict population was the August 10, 2002, cover story. He has written freelance articles for the Chicago Tribune, the New York Times, the Wall Street Journal and other publications.

Wheelan’s first book, Naked Economics: Undressing the Dismal Science, was published by W.W. Norton & Company in 2002. The book, an accessible and entertaining introduction to economics for lay readers, was released in paperback in September 2003 and is now published in 13 languages, including Arabic and Hebrew. The Chicago Tribune described Naked Economics as “clear, concise, informative and (gasp) witty.”

In 2007, Naked Economics was selected by 360 Degrees of Reading as one of the 360 books that every college bound student should read, alongside authors ranging from Sophocles to Malcolm X. Naked Economics was also selected as one The 100 Best Business Books of All Time by 800-CEO-READ.

Wheelan is also the author of 10 ½ Things No Commencement Speaker Has Ever Said and An Introduction to Public Policy, a comprehensive textbook on public policy published by W.W. Norton in November of 2010.

Wheelan holds a Ph.D. in public policy from the University of Chicago, a Master’s in Public Affairs from Princeton University, and a B.A. from Dartmouth College. He lives in Chicago with his wife and three children. ...more

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“When I applied to graduate school many years ago, I wrote an essay expressing my puzzlement at how a country that could put a man on the moon could still have people sleeping on the streets. Part of that problem is political will; we could take a lot of people off the streets tomorrow if we made it a national priority. But I have also come to realize that NASA had it easy. Rockets conform to the unchanging laws of physics. We know where the moon will be at a given time; we know precisely how fast a spacecraft will enter or exist the earth's orbit. If we get the equations right, the rocket will land where it is supposed to--always. Human beings are more complex than that. A recovering drug addict does not behave as predictably as a rocket in orbit. We don't have a formula for persuading a sixteen-year-old not to drop out of school. But we do have a powerful tool: We know that people seek to make themselves better off, however they may define that. Our best hope for improving the human condition is to understand why we act the way we do and then plan accordingly. Programs, organizations, and systems work better when they get the incentives right. It is like rowing downstream.” — 40 likes

“A market economy is to economics what democracy is to government: a decent, if flawed, choice among many bad alternatives.” — 11 likes

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