The Economic Principles website has this simple but effective animation explaining how the economic machine works.
The economy works like a simple machine.
But many people don't understand it -- or they don't agree on how it works -- and this has led to a lot of needless economic suffering.
I feel a deep sense of responsibility to share my simple but practical economic template. Though it's unconventional, it has helped me to anticipate and sidestep the global financial crisis, and has worked well for me for over 30 years.
|"The use of social network contacts as a basis for establishing credit worthiness is questionable."|
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|"Giving everyone a set amount of money regularly, regardless of whether they need it or not."|
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|“Research that could engineer dinosaurs back into existence within the next five to 10 years.”|
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|“A man-powered machine that creates scarfs in 5 minutes.”|
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|“The only thing worse than assuming that carbon removal will save the day is assuming it will save the day.”|
|The (Very Scary) People of Public Transit|
|“A machine meant to hurl rockets into space.”|
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|What Computers See When They Watch a Movie|