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.
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