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Economics
- Consumer Price Index (CPI) - weighted average of market basket of common consumer goods and services
- Market Basket - fixed list of items, in given proportions, commonly used to track the progress of inflation
- The Big Mac index - published by The Economist as a way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries.
- Purchasing Power Parity (PPP) - is a measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currencies.
- depositing money = lending money to the bank, i.e. the account is in credit
- Five Economics Books Expert Recommendations, updated yearly, also has top 5 in various categories such as introduction to economics, macroeconomics, etc.
- reaction to Paul Graham essey How People Get Rich Now. Paul Graham argues that growing inequality isn't that big of a issue as the economy isn't zero sum game and essentially everyone is earning more. On the other hand, this golden age of entrepreneurship has benefited only a few selected ones and the income for lower and middle class families isn't growing fast enough to keep up with growing prices.
- Economic Research at the St. Louis Fed - Expand the frontier of economic knowledge by producing high-quality original research in the areas of macroeconomics, money and banking, and applied microeconomics.
- Self-signaling and diagnostic utility in everyday decision making (2001) - "self-signaling" is one of the more interesting concepts to come out of behavioral economics. The idea is that some of our behaviors (especially economic behaviors) are really about telling yourself something about yourself. (Tweet)
- a little essay by anonymous who made $6 million through his company IPO, partly nihilistic, mostly realistic
- three types of inflation:
- 1.monetary inflation - caused by increase in the broad money supply, driven either by an increase in bank lending or large fiscal deficits.
- 2.consumer price inflation - nominal price of broad set of consumer goods and services increases
- 3.asset price inflation - inflation of prices of financial assets
- the article analyses much more, on per-country bases, the affects on various investments from housing to stocks and bonds, etc.
- What lies beneath: evidence from leaked account dataon how elites use offshore banking - 55 page paper/book on how elites are offshoring money, also includes solution to this problem. (HN)
- How The Economic Machine Works by Ray Dalio (video); summarizes all the basics in 30 min long video. Productivity growth, short term dept cycle, and long term depth cycle.
- Majority of money in the modern economy is created by commercial banks making loans
- The housing theory of everything - "Western housing shortages do not just prevent many from ever affording their own home. They also drive inequality, climate change, low productivity growth, obesity, and even falling fertility rates."
- The worldly turn - After generations of ‘blackboard economics’, Berkeley and MIT are leading a return to economics that studies the real world
Last modified 9mo ago