Economics

Terms

• 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.

Books

• Best Economics Books: 49 Books To Really Understand Economics * Filmmaking Lifestyle #book
• Five Economics Books Expert Recommendations, updated yearly, also has top 5 in various categories such as introduction to economics, macroeconomics, etc.
• Against Economics (2019) #book
• core-econ; free online textbooks and resources for teaching and learning economics #book
  • The Economy online book
• Best Economics Books of 2020 #book
• The Enlightened Economist - Economics and business books. #book
• Economics Reddit Wiki Recommended Reading, but math skills and familiarity with the intermediate micro/macro/metrics coursework are far more important for grad school admissions than the pop economics books on that reading list.
• What lies beneath: evidence from leaked account data on how elites use offshore banking - 55 page paper/book on how elites are offshoring money, also includes solution to this problem. (HN)

Resources

• A Simple Explanation of How Money Moves Around the Banking System
  • depositing money = lending money to the bank, i.e. the account is in credit
• EconDB - Economic overviews of countries.
• Global Capitalism: A Looming Economic Crisis
• Supply, Demand, and the Value of Markets (2019)
• The changing structure of American innovation: Some cautionary remarks for economic growth (2019)
• Just Be Rich, (HN)
  • 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.
• Bridgewater’s Ray Dalio Discusses the Impact of China’s Growth on the World Economy (2019)
• Economic principles - How the economic machine works.
• Some guidelines (not rules) for surviving a recession
• The Economics of Kenneth J. Arrow: A Selective Review (2019) (HN)
• Lectures in Quantitative Economics with Python (2019)
• QuantEcon - Open source code for economic modeling.
• Money creation in the modern economy (2014)
• Negative Interest Rates Are Going to Ruin Everything (2020) (Tweet) (HN)
• CORE - Economics for a changing world.
• 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.
• Ask HN: What are you reading to make sense of the economy? (2020)
• Explained | The Stock Market (2020)
• The Stock Market vs. The Economy (2020)
• Naked Capitalism - Fearless commentary on finance, economics, politics and power.
• HN: The Fed Will Buy Bond ETFs Now (2020)
• Understanding The Current Macroeconomic Situation with Scott Sumner (2020)
• Georgism - Single tax system. (HN)
• Ask HN: Why do we pay taxes if the Fed can just print money? (2020)
• What are the most useful concepts from linear algebra that are applied in graduate level economics? (2020)
• Do illegal immigrants take more from a country than they contribute? (2020)
• Why Isn't the Whole World Developed? Lessons from the Cotton Mills (1987)
• Is a trillion-dollar worth of programming lying on the ground (2020) (HN)
• Declining worker power versus rising monopoly power (2020) (HN)
• Long-run money neutrality explained (2020)
• Notes on the Crises
• Is there any reason to not expect hyperinflation in the US? (2020)
• Meditations On Moloch (2014)
• Just Too Efficient (2020) (HN)
• Why Do People Stay Poor? (2020) (HN)
• What harm do minimum wages do? (2020) (HN)
• Matt Levine Writing
• Banks create money, but it's less impressive than it sounds (2020) (HN)
• Digital Euro (2020) (PDF) (HN)
• 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)
• Economics for the future – Beyond the superorganism (2020)
• Faster Growth, Fairer Growth: Policies for a High Road, High Performance Economy (HN)
• Banks, QE, and Money-Printing (2020) (HN)
• Ask HN: Lost Economic Theories: Printing Inflation-Free Money? (2020)
• Freeing Econ 101: Beyond the Grasp of the Invisible Hand (2018)
• Exponential Economist Meet Finite Physicist: Energy growth cant continue forever (2012)
• Why Privatization Is Wrong (2020) (HN)
• EconML - Python Package for ML-Based Heterogeneous Treatment Effects Estimation. (Web)
• The Great Reset | World Economic Forum
• The Fraying of the US Global Currency Reserve System (2020) (HN) (HN 2)
• Why Do People Stay Poor? (2020) (HN)
• What recent economics book did you really like? (2021)
• How Money Works (2021)
• Economic Research - St. Louis Fed
• How religion shaped modern economics (2021) (HN)
• Narrative Economics
• HN: How this Ends (2021)
• The US government is inviting inflation (2021) (HN)
• Resources to history of inflation and its lessons
• Food Prices Are Soaring Faster Than Inflation and Incomes (2021) (HN)
• Why inflation is not a threat (2021) (HN)
• Confessions of an Overnight Millionaire
  • a little essay by anonymous who made $6 million through his company IPO, partly nihilistic, mostly realistic
• Where Did the Other Dollar Go, Jeff?
• The Ultimate Guide to Inflation
  • 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 Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?
• Making Money isn't Magic
• Fun Economic Facts
• 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.
• Money creation in the modern economy
  • Majority of money in the modern economy is created by commercial banks making loans
• Evidence from leaked account data on how elites use offshore banking (pdf)
• A Nobel Prize for the Credibility Revolution
• MIT 14.01 Principles of Microeconomics, Fall 2018 (youtube channel)
• The Factorio Mindset
• How a field fixes itself: the applied turn in economics
• What is Money, Anyway?
• The Art of Monetary War
• The housing theory of everything
• How This Ends (2022) (HN)
• 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
• Imports do not subtract from GDP
• Inflation, part 1: On shelter futures
• So You Want to Learn About Economics - 11 papers that make you go “woah”, and notes on each of them