The New World Economy: A Beginner's Guide (Randy Charles Epping, 2020)

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Review: covers most of the modern times emerging economics factors with a little pinch of biases, besides identifying the factors it contains possible opportunities to engage too. Rated: 8/10.


  • Ancient Greeks tattooed messages into their envoy and wait for hair to grow back before sending them away
  • Purchasing power parity (ppp): real economic value under real-world exchange rate that is adjusted GDP
  • Genuine progress indicator (GPI): alternative view on economy health
  • Barriers to trade
    • Tariffs
    • Quotas
    • Subsidies
  • Opium war was due to trade war and HK was a strategic port
  • More immigrant = more demand for local services
  • Triffin dilemma: conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies
  • Robots are going to replace d jobs
    • Dull
    • Dirty
    • Dangerous
    • Delicate
  • Money laundering
    • Placement: finding a bank that will believe you earned the money legally
    • Structuring or smurfing: many small deposits into a bank
    • Layering: disguise money’s origin by sending it through many banks around the world, including bitcoin
    • Integration: high-end purchases
  • Laffer curve: a theoretical relationship between rates of taxation and the resulting levels of the government's tax revenue


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