Read "The Instant Economist Everything You Need to Know About How the Economy Works" by Timothy Taylor available from Rakuten Kobo. Sign up today and. The Instant Economist. By: John Charles Pool Ross M Laroe. ISBN: See detail of this book on seostinicousma.tk Book served by site NOIR. THE INSTANT. ECONOMIST. Everything You Need to Know About. How the Economy Works. TIMOTHY TAYLOR. A P L U M E. B O O K. A
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The Only Economics Book You Will Ever Need. Economics isn't just about numbers: it's about politics, psychology, history, and so much more. We are all. Editorial Reviews. Review. “Taylor breaks the complex ideas of macro- and microeconomics. EBOOK @PDF The Instant Economist: Everything You Need to Know About How the Economy Works PDF Click button below to download or.
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By th He too often discusses economics in terms of the ideal rather than the actual.
For instance, he makes the blanket statement that prices are determined by markets, not producers. While this is usually the case, in monopolistic or near-monopolistic situations producers can indeed dictate prices.
Nevertheless, this is a good book to keep on hand for reference. One startling comment he makes is that economics is not a science. The Nobel Prize in economics which, BTW, is not given by the Nobel committee in Norway but by a bank in Sweden selects its winners among those with a neoclassical bent who produce some kind of model or equation that can be used to make predictions about economic behavior or outcomes.
Yet Taylor does not shirk from citing economic evidence when applicable. He makes other questionable claims that sound good but are left on the wash line to dry when compared to the data or experience.
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This is nonsense. Those making less than the median income only own 0. But is this always the case? Without delving into cases and instead looking at the claim on its face, ascribing such epistemic infallibility to markets suggests that markets possess a godlike nature that is nigh blasphemous: Those who are poor have been damned by the markets and their suffering is the consequence of their ignorance of the law of markets or of their market agnosticism or, worse, their disbelief in the power and justice of markets.
Skeptical remarks concerning the efficacy of markets are duly treated as heresy, and those with the temerity to introduce such doubts and alternatives are subsequently banished, as were the Gnostics and Arians in the early centuries of Christianity, from serious consideration.
Thankfully, thus far no inquisition has been instituted to silence such heretics. Taylor also repeats the standard economic claim that rising wages accompany rising productivity, a claim that has been shown to false by the failure of wages to keep pace with productivity in the last forty years.
His discussion insisting that poverty and inequality are separate and not intertwined seemed weak; while they can be separated for analytic purposes, conceptually and practically separating them into mutually exclusive categories seems wrong headed. His discussion of corporate governance also takes place in a platonic realm, assuming that directors and shareholders assume the responsibility for the overall guidance of large corporations.
Perhaps in some cases, but recent history put the lie to such assumptions, showing that it has been CEOs and other upper level management officers whose decision have decided the fate of the organizations they run. On a more positive note, Taylor does acknowledge that limitations of using gross domestic product as the bellwether for measuring how well off a society is.
Dec 26, Sebastian Mallory rated it really liked it. This book is basically an outline for a standard economics course one would take in a high school.
Timothy Taylor spends half the book discussing microeconomics and personal finance before moving on to the grander scale, the workings of our government and the global economy in the form of macroeconomics. I felt this was a very solid introduction that I would recommend to anyone interested in flirting with economics, as it keeps the subject interesting while explaining it clearly and concisely.
T This book is basically an outline for a standard economics course one would take in a high school. Taylor is a gifted economist with wonderful wit, and he remains relatively unbiased throughout the entire book.
When he does have a clear bias on an issue, such as with global trade and his view on NAFTA, he points it out and explains why he thinks that way.
Nov 21, Wessex Warrior rated it really liked it. This was an excellent overview of economics from micro to macro to issues of current interest. I like the format for such a potentially dense topic: Also, it fits my attention span. It seems to be part of The Great Courses series for which I constantly get mail solicitations. If this book is indicative of the quality of the other courses, I may give them a whirl.
They call economics "The Dismal Science", but I find it actual This was an excellent overview of economics from micro to macro to issues of current interest. They call economics "The Dismal Science", but I find it actually pretty interesting. Maybe you will too.
Feb 22, Kim Heimbuch rated it really liked it. Had to fight my husband over this book. With our economy not finding any respite the past few years this book has been a great read over and over and a book I highly suggest for anyone interested in economics and the American government system.
It is never to late to get informed and know really what is going on in our economy and how it impacts us and what can be done to correct it. With the elections now over, there is no better time than now to pick up a copy of this book and learn everything Had to fight my husband over this book. With the elections now over, there is no better time than now to pick up a copy of this book and learn everything you need to know to be better prepared for what the future may hold.
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First Reads book. Jul 28, Amber rated it really liked it.
I wish there was a way to mark books as abandoned - not because I didn't love the way this author laid out an overview of economics, plainly, with plentiful analogies so helpful and with honesty and equanimity, giving me understanding of a topic I'd never explored before - but simply because I was only interested in the micro-economics part, the economy's relationship with the individual, and not the bigger-picture macro second half of the book.
Feb 25, Bryan rated it it was amazing. The dive-into book for Economics.
No prior knowledge required, easy to understand and follow. The author is very clear, gives good examples, and lists out all the points in an easy to follow manner.
Definitely highly recommend this book to anyone trying to get the big picture about the global economy and how governments and corporations duke it out.
After reading this, I have much greater appreciation for government institutions' intentions with the economy. Aug 16, Michael Sautter rated it liked it Shelves: Written in a simple, straight-forward manner that the average person can understand.
Chapters aren't very long and well titled so if, for example, you want to read about exchange rates or supply and demand then you can turn to the chapters titled Exchange Rates or Supply and Demand.
Dec 29, Bruce Reiter rated it it was amazing. I read this book because I started reading Piketty's Capital and found that I needed a refresher. It is very readable and has excellent explanations of theories in practice.
[PDF] The Instant Economist: All The Basic Principles Of Economics In 100 Pages Of Plain Talk
Well worth the effort. Jun 11, Shishir rated it really liked it. An interesting albeit little right wing view, of the rules of economics.
Large subject dealt in a concise way covering both micro and macro aspects of economics as well as short and long term implications in the globalized world. May 26, Beth Kleinman rated it liked it. Not as snarky and entertaining as "Naked Economics," but covers some areas that "Naked Economics" doesn't.
I recommend reading "Naked Economics" first, then expand your knowledge base with this book. Sep 11, Muhammad Arrabi rated it really liked it Shelves: The book is an amazing "encyclopedia" out of these lectures.
But the lectures are much more fun frankly even though it'll take longer to listen to all instead of just flipping through the book. In this case, the interest the bank receives from borrowers is at the agreed-upon lower interest rate, while the interest the bank pays out is at the higher current interest rate.
Banks actually create money by the process of making loans. To understand how this happens, think about what happens to the money you get in the form of a bank loan, say for a car or a house.
First, you pay the loaned money to someone else. They take the money and de- posit it in their bank. What does that second bank do with the money that was deposited? It takes it and makes a loan to someone else. Someone else takes that loan money and hands it over as part of an- other download, and the money is deposited in yet another bank.
The banking system is a web of loans and deposits, in which loans are forming the basis for deposits, deposits are forming the basis for loans, and so on and so on. That process creates money because, as dis— cussed earlier, money is what is in bank accounts. Thus, when money is loaned and reloaned, and loaned and reloaned, there's actually more money in the economy. Banks are legally required to hold a portion of their deposited money as reserves.
But when banks are enthusiastically lending money, there will be substantial aggregate demand in an economy thanks to the increased downloading power created by these loans.
In that case, the downloading power, the aggregate demand, in the economy will decrease. The next chapter discusses the Federal Re- serve, the central banking institution that takes the lead in the con- duct of US.
The following chapter then discusses how monetary policy is actually conducted. The United States has the largest economy of any country in the world, so you might think the most powerful economic actor is the president of the United States.
But while the president controls foreign policy in a very direct sense, all tax and spending bills have to proceed through Congress before the president makes a choice about signing them. But even in nondemocratic countries, individual leaders do not control all eco— nomic activities and are constrained in various ways by the different groups to which they owe allegiance. Constitution gives Congress the power to coin money and to regulate its value. The chairman of the Fed has great power over the money supply and interest rates, and on a day-to—day or year-to-year basis, that power is not'directly limited by Congress or the president.The gen- eral idea behind these is that the saver delays paying taxes on this money until after retirement, increasing the amount of money avail— able to save and thus increasing the potential rate of return.
We are all economists-when we work, save for the future, invest, pay taxes, and download our groceries. Big Magic. Please try again later. He concludes with macroeconomics an overall view of the economy , with topics including economic growth, unemployment, and inflation.
Banks are legally required to hold a portion of their deposited money as reserves. This preview shows page 1 - 5 out of 5 pages. At some point, when the rest of the world becomes unwilling to hold as much in U.
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