Philip Coggan

From its humble beginnings in Ancient Greece to today's mammoth global system, economics is all around us. Getting to grips with what it means is crucial to understanding how the world works: it's never been more important to know your macro from your micro and your fiscal from your monetary policy. In this invaluable guide, Philip Coggan lifts the veil with an entertaining, no-nonsense overview of the development and scope of the field, and breaks down the jargon with an all-new A-Z of key economics concepts and terms. Crisp, sophisticated and often surprising, this is the complete companion to what economics is - and why it matters.

Economic policy set at the whim of one man.Tariffs up one day and down the next.Businesses bewildered, consumers alarmed.As Donald Trump wages his trade war, what will become of a global economy dependent on close trading link? eading financial journalist Philip Coggan lifts the lid on Trump''s economic gamble, why it''s a universal threat and how we can make sense of this new ''age of chaos''. This is his clear-sighted and powerful rallying cry in defence of global trade - and why it matters for the world.

There are 17 ingredients in a typical tube of toothpaste, from titanium dioxide to xanthum gum, and that's not counting the tube. Everything had to come from somewhere and someone had to bring it all together. The humblest household product reveals a web of enterprise that stretches around the globe. More is the story of how we spun that web. It begins with the earliest glimmerings of long-distance trade - obsidian blades that made their way from what is now Turkey to the Iran-Iraq border 7,000 years before Christ - and ends with the consequences of the Covid-19 pandemic. On such a grand scale, quirks of historical perspective leap out: futures contracts and commercial branding are among the many seemingly modern components of the global economy have existed since ancient times. Yet it was only in the 18th century that a cascade of innovations began to drive up prosperity in a lasting way around the world. To piece this fascinating saga together, Philip Coggan takes the reader inside medieval cottages and hi-tech hydroponic farms, prehistoric Chinese burial mounds and modern central banks. At every step of our journey, he finds that it was connections between people that created our wealth. Will the same openness continue to serve us in the 21st century?

'Big and timely ... Coggan's account of the rise of the world economy is accessible and mercifully free of jargon' Sunday Times More tracks the development of the world economy, starting with the first obsidian blades that made their way from what is now Turkey to the Iran-Iraq border 7000 years before Christ, and ending with the Sino-American trade war that we are in right now. Taking history in great strides, More illustrates broad changes by examining details from the design of the standard medieval cottage to the stranglehold that Paris's three belt-buckle-making guilds exercised over innovation in the field of holding up trousers. Along the way Coggan reveals that historical economies were far more sophisticated than we might imagine - tied together by webs of credit and financial instruments much like the modern economy. Coggan shows how, at every step of our long journey, it was connections between people - allowing more trade, more specialisation, more ideas and more freedom - that always created the conditions of prosperity.