I got all I needed to know about economics from a text book by Paul Samuelson and( Nerdy me) economic books by John Kenneth Galbraith, throw in several times that I watched Adam Smith's (George Goodman) money world and wa la I'm an expert on economics.
Of cause Galbraith and Samuelson can't write any more and as they say Adam Smith's Money World has jumped the shark. Too make up for not having those sources of economic wisdom around I religiously follow Paul Krugman, and subscribe to a blog called Naked Capitalism, along with a mailing from the Roosevelt Institute. Why do I get Naked Capitalism and e-mail from Roosevelt Institute, it must be the left side of my brain.
Now I used think that I knew all the economic terms, but there are so many of them , my head is getting bigger.
Arbitrage, yea I know what is.
Backwardation, yea, Bretton Woods Bounded rationality, Crony Capitalism, oh,oh my head starting to hurt.
Crony Capitalism, I unfortunately know that is. Cost-benefit-analysis, who doesn't know that. Man my brain starting to smoke. Externality, and frictional unemployment, please no more terms, my poor head is about to exploded. Derivatives and development economics, please no more. G7, G8, G10 G21, along with Gross Domestic Product,to be distinguished from Gross Nation Product. Oh no my eye balls are on the window, my brains are on the ceiling and my jaw is on the floor.
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