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> How the Economy Works, In about 30 minutes
AuthorMusician
post Jan 3 2018, 01:10 AM
Post #1


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From: Blueberry Hill
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Politics: Liberal
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I found this explanation of the economy to be enlightening:

https://www.youtube.com/watch?v=PHe0bXAIuk0

However, as the creator of the vid admits, there's more to it than shown. An example I can think of right off is the impact of fraud, having been a victim of it while at MCI/Worldcom. Sure put a crimp on my income growth, productivity contribution and credit. But from a macro econ POV, fraud might not be that much of an economic mover, more like a symptom of general economic movement.

What would you add to the above explanation of economics?

What's wrong about the above explanation?

What conclusions, if any, do you draw from the above explanation?
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