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Why Become An Economist?

“What do economists successful? First and foremost they have got to be there to try to explain to policymakers and also to a certain extent to the general public and the business community, what it is that makes this of extraordinary miracle of a market economy work”. -Anatole Kaletsy “I think the key professional responsibility like any other profession, is to tell it how it is not to tell people what they want to here or promote particular ideologies. But to do what you would expect a doctor or an engineer today and I use these kind analogies because these are the things that seem to me like economics or like economics ought, to be subjects that have...

posted on: Jun 24, 2015 | author: Jan

Punk Economics: Lessons from the Banking Crisis...

Following the great Irish railway share crash of the 1850’s the wonderful english economist John Stuart Mill, observed the crisis does not destroy wealth it merely evidence is the extent to which wealth has already been destroys by stupid investments made in the boom. So banking crisis they do not start the day the market collapses put the actually begin years before when the banks begin to borrow and Landry recklessly using other people’s money to ramble awesome fun, so what have we learnt the 2008 banking crisis. Lesson 1 The easiest way to rob a bank is to run us, in the old days the image at the bank robber was declined the balaclava on the outside...

posted on: Jun 23, 2015 | author: Jan

Introducing Economics: Basic Concepts

Every course and textbook starts in an attempt to define economics definitions differ, but after he refused them you should have a flavor for what economics is about. When I tell people I am an economist, the first thing they usually say is either, what is the stock market going to do next? or how to invest my money?. I am always said to hear those questions, there are two reasons why? The first reason is that I do not have good answers, there are some interesting economics behind why I do not have good answers but this is not the time to talk about that. The second reason why those questions make me said is that economics...

posted on: Jun 22, 2015 | author: Jan

What is GDP?

What is GDP? GDP is the value of final goods produced or total income earned by domestically located factors of production. (Land, Labour, Capital), regardless of nationality. There are two types of GDPS: Nominal GDP -> Not influenced by price changes (I.E. Inflation) Real GDP -> Influenced by price changes. This brings us to Germany’s GDP in the second quarter of 2014. Germany has GDP at $3.747 Trillion Us Dollars as (Nominal GDP). GDP has been rising the last few years in Germany. After germany’s dramatic GDP growth rate drop from 1.1% in 2008 to 5.1% 2009’s recession. Germany has been making significant progress in coming back from the recession. This is seen in its high 4% annual...

posted on: May 29, 2015 | author: Jan

The Truth about Savings and Consumption...

The truth about savings and consumption: We have all heard that consumption and spending grow the economy. Turns out that is wrong in fact the exact opposite is true its savings and production to make the economy grow not consumption and spending. Here is a fact, society would become wealthier if everyone just ran out and bought boats and houses and cars. If that were true the larger everyone made their credit card debt the wealthier we would be. Something seems fishy. Think about it this way. A healthy economy is made up of goods and services people want. If we were to understand why some the economies have a lot of goods and others few. We have...

posted on: May 27, 2015 | author: Jan

The Truth About Central Banking and Business Cycles...

The truth about central banking and business cycles pretty much every country on the planet has a central bank. The mayor causing more harm than good, for some reason the topic banking is shrouded in confusion and mystery. It does not need to be, banks provide an essential service and market economies in the government’s create a central bank throws a wrench into everything. To understand the problems with central banking, in first need to understand what, banks you are supposed to do in a free market. Simply put banks coordinate people’s plans. The plans have savers and consumers as; we already know that somebody sees their money in the bank. It becomes available for an entrepreneur to...

posted on: May 26, 2015 | author: Jan

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