Cocktail Party Economics - Review

Cocktail Party Economics is a well written text, composed in a conversational style text, which turns big ideas into small talk. Eveline J. Admoait and Richard G. Maranta provide an interesting take on their view of the economic world. The text takes complex economic ideas and enables readers with no previous background of economics to comprehend the ideas being exemplified. Admoait and Maranta also make the book easily relatable because they use real life examples that can be applicable in day to day life. The style and witty humor throughout the text not only make it easy to read but also extremely enjoyable.

Throughout the text Admoait and Maranta use an extensive amount of footnotes. These footnotes are not used to cite sources where they got certain pieces of information, but to explain points from the text in more detail. I found these footnotes very helpful, as they provided the perfect amount of information to help clarify the theories discussed within the text. The footnotes didn’t continuously provide the same kind of information. The information presented in the footnotes varied between numerous definitions, background information on specific topics, and in tell on specific dates and facts that contributed to examples mentioned directly in the text. The variety of different topics helped make the footnotes interesting to read, and encouraged me to take the time to find the corresponding footnote with the sentence as I read the text.

Another helpful tool that sets Cocktail Party Economics apart from any other ordinary economics textbook is the numerous Gossip Columns, which can be found throughout the text. The Gossip Columns are brief bios of people who contributed to economics in some way throughout history. These Gossip Columns give the reader very interesting background information about various people who have either directly or indirectly affected the development of economics. The people highlighted throughout the text are from all different eras and different walks of life. First information is provided briefly on their childhood and upbringing, than following is a detailed summary about their achievements in life and contributions to the economic world. The Gossip Columns are a helpful tool for readers who are having difficulties grasping concepts because it helps to understand that economics was developed by ordinary people just like them. Therefore, hard work and practice will help master the skill of understanding the economic world and its principles.

Admoait and Maranta mentioned in the text that they originally had the intention of writing Cocktail Party Economics with no graphs. This being said, once they started the writing process they realized this is next to impossible when discussing economics. I feel as if this realization was very beneficial to the readers. For a first time reader of any economic material the content could have been much more confusing without any visuals. The graphs throughout the text were simple and did not provide much detail. The straightforward style helped make the theories more manageable for the reader to better understand the connection between various different key elements of economic activity. The simple style of the graphs is another great tool used in Cocktail Party Economics, which contribute to what makes the text so enjoyable to read.

In an enjoyable and witty text Admoait and Maranta present the basic foundation to understanding the economic world by simplifying intellectual economic theories and concepts but never dumbing it down. Cocktail Party Economics is a great book for people of all ages who have no previous education in economics because it presents the theories in a basic and understanding manner. It can also be a great read for people who do have a background in economics as it gives the concepts a different and more pleasurable and beneficial spin.