Forget GDP, and focus instead on living standards, people’s ability to get what they want. When you do that you’ll see why, contrary to universal belief, capitalism helps the living standards of the less well-off much more than those of the rich. You’ll also see why no matter who or what the government taxes, or even if it taxes nobody, nearly the entire cost of government is paid for in the form of reduced living standards for the poor or anyone else on a tight budget.Despite cove...

What goes on in the economy is important to everyone, yet often baffling. This book-Economics Reimagined: Nature, Progress, and Living Standards-explains many mysteries of economics, for example:Is macroeconomics even a science? Why have leading economists been given so much unchecked power over our lives? Why do government price inflation statistics rarely match our own experience? Why are housing prices so high? Does the country always benefit from infrastructure investments? Who...