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economics for beginners
Comments
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QE = printing more money without acquiring equivalent assets in BoE's vault
Don't be upset if you don't understand the terms. I'm sure neither chancellor of exchequer nor BoE governor understands them either
Remember, government don't want normal people to understand their jiggery pokery. If people understand these, then they can apply their brains in ballot boxes which will be detrimental to those parasites in House of Commons
oh dear
Fahrenheit 451 rules OK?0 -
you can wonder why state pensions are unaffordable in the UK but are affordable in the virtuous German state
Why is this the case?0 -
Why is this the case?
1. 'affordable' has no defined meaning as so two people can both maintain the opposite with equal vigour
2. pensions are political and so no real logic need apply
3. people don't understand the economic consequences of funded and unfunded pension schemes. By 'economic' here I mean whilst people understand the difference when applied to themselves, it's must harder to assess the situation when applied to the whole country.
one of the first lessons of macroeconomic theory is that one can't just generalise from a specific issue concerning a single person to what would apply to the whole country0 -
Human Action: A Treatise on Economics by Ludwig von Mises
Heavy, about 4 volumes but will tell you everything you need to know.
2 books that give very good economic lessons in an easy to read and digest fashion....
Economics in One Lesson by Henry Hazlett
http://www.amazon.co.uk/Economics-One-Lesson-H-Hazlitt/dp/0517548232
Basic Economics: A Common Sense Guide to the Economy by Thomas Sowell
http://www.amazon.co.uk/Basic-Economics-4th-Edition-Economy/dp/0465022529/ref=dp_ob_title_bk
Another brilliant book
The Theory of Money and Credit by Ludwig von Mises
..............and finally
Changing Fortunes: The World's Money and the Threat to American Leadership by Paul Volcker
http://www.amazon.co.uk/Changing-Fortunes-Worlds-American-Leadership/dp/0812922182'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
i thimk i need to start off at gcse level though. I wish id paid attention at school0
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