Economics

Comparison of Schools of Thought

Austrian	Keynesian
prefers Gold Standard laissez-faire, private business drives economy Inflation: bad, caused by expanding money supply, either by printing or borrowing assumes a strong tendancy towards equilibriums popular with conservatives	accepts Fiat Currency significant government ("public") role in regulating economy inflation used to stimulate economy uses deficit spending to inflate/stimulate economy during recessions.  assumes you will contract/repay during booms (but this has never happened) popular with socialists

Government Income Sources

Taxes

Printing money

Tariffs (e.g. Byzantium)

War and Conquest (e.g. Rome)

Borrowing (debt)

(others?)

Miscellany

Supply and Demand

Macroeconomics Slideshow

(http://www.gocomics.com/nonsequitur/2011/09/01)

"The primary purpose of economic forecasting is to make astrology look respectable." -- Economist John Kenneth Galbraith

Book Recommendations

The Wealth of Nations - Adam Smith

The Worldly Philosophers: The Lives, Times And Ideas Of The Great Economic Thinkers

Whatever Happened to Penny Candy? - Uncle Eric

New Ideas From Dead Economists

Thou Shall Prosper - Daniel Lapin

The Richest Man in Babylon

Copy This (by Aneladee's brother who founded Kinkos)

Emperors of Chocolate (about the founders of Herhey's and Mars)

I, Pencil - Leonard Reed  (short)

Economics In One Lesson  -  Henry Hazlitt

What Everyone Should Know About Economics and Properity  -  James Gwartney and Richard Stroup

The Law  -  Frederic Bastiat

Property and Law - Frederic Bastiat

Cash, Cars and College - Bolon

Websites

http://www.zerohedge.com/fullrss2.xml

Economics notes and links