{DOWNLOAD E-PUB} Î The Little Book of Economics: How the Economy Works in the Real World é eBook or E-pub free

The author says that growth comes from population size and productivity which increases the pay of productive people Unfortunately, even the examples he picks show this isn t even remotely true There is no necessary relationship between what a person gets paid and how productive they are There is a necessary relationship between how much someone has the authority to determine their own pay and how much they get paid, but this has no relationship to actual productivity It s just about who has The author says that growth comes from population size and productivity which increases the pay of productive people Unfortunately, even the examples he picks show this isn t even remotely true There is no necessary relationship between what a person gets paid and how productive they are There is a necessary relationship between how much someone has the authority to determine their own pay and how much they get paid, but this has no relationship to actual productivity It s just about who has the leverage to force others to give themmoney This is true whether you re talking about someone stealing money from you at gunpoint or at the tip of pen Leverage determines pay and productivity is largely irrelevant Overlaps are coincidental.It is true that sometimes people who deservegetbut that should not be confused with the belief that this is what happens most or even much of the time The evidence simply doesn t support the idea of the connection being particularly frequent The author tries to hide this by cherry picking the examples of superstar Athletes Entertainers and corporate executives, but the difference between those two two groups and why they each get paid so much is vast and obvious.Athletes and Entertainers see their pay rates increase because they are the actual draw and, over time, the ones with enough power to force the issue will take a greater share of the income they create, none of which would exist without them In other words, if Beyonce stopped showing up for concerts, the whole tour shuts down No one keeps going to see her backup dancers Beyonce is the show and the share of the money she gets should reflect that literally everyone but her is expendable.Executive pay, on the other hand, increases for the same reason that there are no term limits on Congress if you let people vote on their own pay and job security, they will always vote to increase their end If Jamie Dimon left Chase, no one would stop banking with Chase There would be no run on the bank like there d be a run on refund requests if Beyonce stopped showing up for concerts Steve Jobs died and Apple has only grown since his death and he was perhaps the most revered CEO in history It turns out that Executives are closer to place holders than they are to being the actual show like athletes and entertainers are They take all the benefit of everyone else s productivity increases because they are the ones that decide who getsmoney and, naturally, their answer to who should get paidis always me and my executive friends They do it because they can, not because they deserve it.Anyone claiming to teach you about economics who is unwilling to even acknowledge this massive difference is probably not telling you the truth on other things, too In this case, he suggests that only executives get their pay increased even though productivity increases across the board because Susan Boyle sings songs and that s the same thing I hope it s clear that this argument is not just incorrect but fundamentally disingenuous Frankly, I find it hard to believe a career professional has not noticed this.This guy talks like he works for Rupert Murdoch Edit After finishing the book, I checked out the author and surprise he works for Rupert Murdoch It shouldn t be so easy to smell these propagandists coming OK, this slim volume could be called Economics for Dummies It tackles a bewilderlingly complex and arcane subject and tries to boil it down to a few simple essentials No small task, especially for a little book If you know any economics, it s probably too simple and you will probably disagree with parts of it If know nothing about economics except that it s sometimes referred to as the dismal science, it will probably make the subject seem a little less dismal But it will also leave you t OK, this slim volume could be called Economics for Dummies It tackles a bewilderlingly complex and arcane subject and tries to boil it down to a few simple essentials No small task, especially for a little book If you know any economics, it s probably too simple and you will probably disagree with parts of it If know nothing about economics except that it s sometimes referred to as the dismal science, it will probably make the subject seem a little less dismal But it will also leave you thinking it s not a science at all That s not to say that it doesn t achieve its objective At times, it actually makes what can be a dry and boring subject interesting The material is clearly presented, but clearly the subject matter is confusing and often contradictory Hence, my favorite part of this book was the joke about the President who said he was going to start hiring only one armed people to be his economic advisors because all the ones he had so far kept following the advice they gave by saying on the other hand This was a great little book of economics true to its title The book covered some basic macroeconomics theories as well as some finance I think it gave decent background info for those with no econ or finance background, but it definitely not for someone who wanted to havedetails on the subject I liked the fact that it ties a lot back to the current financial crisis with, in my opinion, unbiased point of view It tried to present both sides of the coins Bottom line is everything is u This was a great little book of economics true to its title The book covered some basic macroeconomics theories as well as some finance I think it gave decent background info for those with no econ or finance background, but it definitely not for someone who wanted to havedetails on the subject I liked the fact that it ties a lot back to the current financial crisis with, in my opinion, unbiased point of view It tried to present both sides of the coins Bottom line is everything is unknown The game changes depending on so many different factors The system is complex and can be very fragile One of many thoughts worth pondering Like the Fed s apparent success at taming the business cycle, its crisis management skills may have lulled us into thinking the economy has become a safer, less violent place 166 I actually would have like to see afterword with Ip s thoughts on what s going to happen with the current crisis.I also enjoyed his writing style It made for fast reading, and it wasn t dull to read He spun some humorous analogies in there, which made things easier to understand For example, I liked the fact that he compared crises to viruses Having vaccinated everyone against whatever killed the last business cycle, they fail to spot the virus that infects the current one 27 I knew most of the information covered in the book, but it still was refreshing to read it.We must have been the only kids in town whose weekly allowance was indexed to inflation xxi.Every business expansion eventually dies Only the cause of death changes 23.A central banker with dovish tendencies is like a wine critic who drinks Merlot out of a box Nothing wrong with it, but best kept behind closed doors 148 Money Quote In Parliamentary systems, the Prime Minister draws up a budget and Parliament passes it It s like a steak a solid cut of meat that changes little between the cow and the dinner plate The United States budget islike a sausage, a mixture of ground meat from different parts of the animal stuffed into a misshapen skin 183 in 1947, finance accounted for 2.3 percent of GDP By 2005, it was almost 8 percent That s an awful lot of cake, and a lot of it was just sugary icing with no nutritional value leveraged buyouts, speculative stock trading, and financial engineering whose pain purpose was to layer onbets 213 Suffers from a serious problem of masquerading as a relatively objective introduction, while the author seemingly can t help but interject his own biases On several occasions, it is gallingly easy to spot examples of him framing something that worked well for an economy with a description of free market, even though such a nebulous thing only exists in abstraction and for which he never bothers to give a meaningful definition Meanwhile, as quickly as a couple of sentences later when descri Suffers from a serious problem of masquerading as a relatively objective introduction, while the author seemingly can t help but interject his own biases On several occasions, it is gallingly easy to spot examples of him framing something that worked well for an economy with a description of free market, even though such a nebulous thing only exists in abstraction and for which he never bothers to give a meaningful definition Meanwhile, as quickly as a couple of sentences later when describing something bad that happened to the economy that could just as easily be described as being a product of the mythical free market to which he often refers, he ll avoid this descriptive phrasing in order to condition the reader into thinking that such an alleged free market couldn t have negative consequences He also frequently makes off hand remarks that would likely breeze by unnoticed in many cases, but which would actually really need a citation, such as claims about the Affordable Care Act s popularity or rather claiming the lack thereof , which has demonstrated far from clear and consistent popularity in polling In some cases, these oversights are relatively harmless In others, it makes me skeptical of the author s intentions and professionalism.When talking about clearcut issues of fact, Ip does a fine job of explaining, but it seems to me that there iseditorializing than either the author intended or than this kind of introductory book should really contain This was a good summary of economics concepts, and I thought there were some pretty good examples and metaphors that helped to clarify the ideas I can t say that I understood everything, but I understandabout economics than I did before reading this book, which I figure is a win This seems like a good reference book for general terms and concepts. At first, I thought this book might be a good refresher on economics However, it was muchovertly political than I had hoped it would be It seems that most economists cannot help but intersperse their opinions throughout the text For someone who knows little about economics, this might be a bit over your head For someone who deals in the business and finance world on a daily basis, as I do, this is not really a good refresher I couldn t say I learned much I had hoped forstories At first, I thought this book might be a good refresher on economics However, it was muchovertly political than I had hoped it would be It seems that most economists cannot help but intersperse their opinions throughout the text For someone who knows little about economics, this might be a bit over your head For someone who deals in the business and finance world on a daily basis, as I do, this is not really a good refresher I couldn t say I learned much I had hoped forstories to illustrate of macro and micro economic principles with less opinions from the author I m not saying I didn t agree with Mr Ip s opinions, I m just saying the book would have been better without them Reading in economics is never a load of fun, but I ve had to give economics lectures a half dozen times now and have come away from each one wishing I had a better way of boiling the subject down Greg Ip s book does that amazingly well, and I ll definitely be recommending it to my students. A concise book on economics designed for the layman While I had a basic understanding of market forces and international economics prior to reading this, I enjoyed learning about the various U.S government regulative agencies that exist and their influence ormaybeimportantly their ability to be influenced Written shortly after the time of the 2008 recession and bailout, this book has some political flavor. {DOWNLOAD E-PUB} ì The Little Book of Economics: How the Economy Works in the Real World õ One positive side effect of the recent financial market meltdown that toppled giant, century old institutions and cost millions their jobs is that it created a strong desire among many Americans to better understand how the US economy functions In The Little Book of Economics, Greg, Ip, one of the country s most recognized and respected economics journalists, walks readers through how the economy really worksWritten for the inquisitive layman who doesn t want to plow through academic jargon and Greek letters or pore over charts and tables, The Little Book of Economics offers indispensible insight into how the American economy works or, doesn t With engaging and accessible prose, the bookProvides a comprehensive understanding of each aspect of our economy from inflation and unemployment to international trade and financeServes as an insider s guide to the people and institutions that control America s economy such as the Federal Reserve and the federal budgetExplains the roots of America s current economic crisis and the risks the country faces in its aftermath, such as stratospheric government debt, while offering advice on overcoming these threatsWalks readers through the basic concepts and terminology they need to understand economic newsPunctures myths and political spin from both the left and the right with candid and often surprising insightA must read for anyone who wants a better grasp of the economy without taking a course in economics, The Little Book of Economics is a unique and engaging look at how the economy works in all its wonderful and treacherous ways I ve read enough of these books now that I feel mostly confident saying this is a book about macroecominics which means, mostly, that there really isn t much math which is good and bad , no demand curves and things like that This means that there s none of that sexy freakanomics behavioral economics that I think attracted me at first about these pop economics stuff.That said, this book is good at understanding how all the different reports you hear about on NPR fit together, and how the info I ve read enough of these books now that I feel mostly confident saying this is a book about macroecominics which means, mostly, that there really isn t much math which is good and bad , no demand curves and things like that This means that there s none of that sexy freakanomics behavioral economics that I think attracted me at first about these pop economics stuff.That said, this book is good at understanding how all the different reports you hear about on NPR fit together, and how the information those reports contain affect public policy it is overall a very lucid precis of the economy on a national level, and is really impressive for peeling back the layers of all these elements of the economy, writ large, and how they fit together I did miss the hesitation I found inacademic treatments of economics Ip has no problem saying that gov t intervention is a problem for economic growth, without any concession that without intervention, we d have five year olds sorting sausages in a meat packing plant That felt a little odd to me, but it also made me think that this is a book my colleagues in the business college would recognize and respect There s something to be said for that.I think, ultimately, this doesn t do quite enough to reach out to non economists, or maybeaccurately non free market boosters But it is what it is, and at least it s a window into a world I otherwise don t really see