From micro to macro, Andrew Leigh’s accessible history covers the economic essentials
Reading time: 6 minutes
Andrew Leigh’s The Shortest History of Economics is the latest in a series of such histories, mostly focused on particular countries.
It begins with a striking mini-history of household lighting, focusing on the amount of labour required to produce the light now given off by a standard lightbulb: 58 hours for a wood fire, five hours for a candle based on animal fat, a few minutes for an early electric lightbulb, and less than one second for a modern light-emitting diode.