The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
Greg Ipamazon.com
The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
For a country to be rich—that is, for its average citizen to enjoy a high standard of living—it must depend on productivity, which is the ability to make more, better stuff with the labor it already has. Productivity itself depends on two factors: capital and ideas.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
The share of the working-age population either working or looking for work is called the labor force participation rate.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
How do you know a recession has occurred? Easy: a press release goes out.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
productivity far less than his first. This is the law of diminishing returns.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
A farmer’s second tractor will help his
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
four engines are consumers, businesses, government, and exports.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
Harry Truman said “a recession [is] when your neighbor loses his job; it’s a depression when you lose yours.”
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
according to the Economist, is that a depression is a contraction in economic activity of at least 10 percent or lasting at least three years.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
Expenditure-based GDP. Total of all the money spent on stuff. 2. Income-based GDP. Total of all the money earned producing stuff.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
In 2026, China’s population should start to decline. It may be the first country to grow old before it grows rich.