Book Clubs, Classes and Discussion Groups

With so much in our news and politics today about inflation, recession, inequality, unemployment and stock market ups and downs, Understandable Economics is a timely and important read for your book club, class or discussion group. If you are considering using the book, please let me know if you would like me to participate in your discussion (presumably by Zoom and definitely without any charge). 

Sample Discussion Topics

1.  Why do you think economics is taught so little in our public education system, and taught in such an inaccessible way in the college system? Having read the book do you agree that you don't need formulas and graphs to understand the basics of the economic system? 

2.  In the first chapter, Yaruss provocatively breaks down the labels, and exposes how the terms "capitalism" and "socialism" have been used with various actual policies or ideas behind them.  What role do you see these labels playing in our economic system today? In what ways are they useful, and in what ways do you think they're misleading?

3.  What did you know about how money is created before you read this book?  Did you learn anything surprising? Does it change how you think about issues like funding for Social Security?

4.  There's a lot of concern in the media about our national debt, and as the book points out, the numbers can be so large as to be incomprehensible. Did Yaruss' approach to the issue make you think differently about debt? From a national government perspective, what are some examples from your perspective of when more debt can be harmful, and when it can be a good thing? 

5.  One of the issues Yaruss addresses in the book is about the fairness- and lack thereof- in our tax system. If you were in charge, what would you think the highest tax rate should be for the wealthiest individuals? What about on inheritances when a wealthy person passes away?

6.  What's something you've heard about in the news recently that relates to economics where you think myths or misunderstandings have caused people to advocate for policies that might harm rather than help?

7.  In the chapter on the Federal Reserve, the author breaks down how decisions by the Fed can affect our daily lives. Why do think so little attention is paid to the Fed leadership and who is appointed to these roles? Look up some current members of the Fed Board and share something about them with the rest of the group. 

8.  Corporate bailouts and corporate taxation are discussed throughout the book. What do you think government policy should be in relation to these issues? What circumstances might make a corporate bail out appropriate from your perspective? Is it better to tax companies more or to tax wealthy individuals more? Why?