Some Resources To Help You Understand The Economy.
I'm going to out myself here: I've been reading about.... the economy! I know: it boring, confusing, all about money and companies and only wants to cause you pain. But it's also a seriously important part of our lives, whether we want it to be or not, as much as people want to drop out of society (and the economy) you're basically stuck with it. So you might as well educated yourself about it, so you can at least understand the news and be able to make an informed decision based on the information that is at least partially validated by some knowledge of the field.
There are lots of resources now available to help people understand what is happening in terms of the world economy and crisis. Here are some things I have been listening to/reading in the past year:
1) This American Life
This American Life has so far provided four excellent shows that clearly explain how banks work, the housing crisis and other important aspects of the economy:
Episode 355: Giant Pool of Money
Episode 365: Another Frightening Show About the Economy
Episode 373: The New Boss (not entirely aobut the economy, but an informative report about Keynes)
Episode 375: Bad Bank
You can listen to the recording online at the above links and download the transcript, all free-of-charge. If you subscript to the podcast, each week an new episode is available, but only for that week. So if you were subscribed at the right time you would've been able to download these episodes. I highly recommend all of them for clear, non-partial, informative, well-produced, professional and entertaining sources. It doesn't get any easier than this folks, I mean just press play, sit back and listen.
2) Naomi Klein
Also, Naomi Klein's Shock Doctrine book is an easy read and explains the background of Neo-liberalism. Her first book, No Logo, which I read in my early 20s, discussed branding and globalization. I really liked it, it was clearly written, gave explicit real-life examples of what she was talking about and had the impact on me that it sought. This book feels very similar, what I like best is that she clearly explains the Chicago school and different ideas about economics. That in itself is worth the book. But the main point of the book at the examples (in South America, Russia, etc.) in which Neo-liberalism was put into practice, to some extent, and then the book takes on a more sensationalistic tone. Ok, the book is a best-seller, so you're probably already familiar with it.
3) Adbusters
Another useful book (read magazine) is the current issue of Adbusters: Thought Control in Economics. I've been reding Adbusters since I was a teenager, and wow, these guys have really come a long way! (Remember the McDonald's Grease stickers?) I don't read it often because it costs an arm and a leg in Germany, but I picked up this latest issue when I was recently in Canada. It's full of informative articles, discusses different perspective on Economics and is not overly over-the-head-bashing in its approach, which turned me off many of the earlier issues, and is also more informative than beligiert and beleaguering. It reads more like a book than a magazine. If you can stil find it on the newstands- pick it up! If not, get a back-issue order online.
3) Paul Krugman
I've only just begun to read article by Paul Krugman regularly. He is a regular contributer to the New York Times where he has a blog: The Conscience of a Liberal (i.e. From last week: How Did Economists Get It So Wrong?) and is also clearly on the left-of-center platform. If you are using Google Reader, you can find a list of his favourite reads with the Power-Reader feature (scroll down).
4) Marginal Revolution
For a very different perspective you can read the decidely conserative economist Tyler Cowen's hyper-activ blog Marginal Revolution, and his two-year old critique of Klein's Shock Doctrine he published in the New York Sun.
5) The Economist
Also on the other end of the spectrum is The Economist magazine itself, which is apparently founded on fiscal-conservatism, but often supports liberal politics. For instance they have featured the case for gay marriage in the US on their cover. So there are somehow mixed I guess. In any case there is always alot of information in each issue, plus special reports, so it is not bedtime reading, but once you get into it it gets easier to understand.
There are lots of resources now available to help people understand what is happening in terms of the world economy and crisis. Here are some things I have been listening to/reading in the past year:
1) This American Life
This American Life has so far provided four excellent shows that clearly explain how banks work, the housing crisis and other important aspects of the economy:
Episode 355: Giant Pool of Money
Episode 365: Another Frightening Show About the Economy
Episode 373: The New Boss (not entirely aobut the economy, but an informative report about Keynes)
Episode 375: Bad Bank
You can listen to the recording online at the above links and download the transcript, all free-of-charge. If you subscript to the podcast, each week an new episode is available, but only for that week. So if you were subscribed at the right time you would've been able to download these episodes. I highly recommend all of them for clear, non-partial, informative, well-produced, professional and entertaining sources. It doesn't get any easier than this folks, I mean just press play, sit back and listen.
2) Naomi Klein
Also, Naomi Klein's Shock Doctrine book is an easy read and explains the background of Neo-liberalism. Her first book, No Logo, which I read in my early 20s, discussed branding and globalization. I really liked it, it was clearly written, gave explicit real-life examples of what she was talking about and had the impact on me that it sought. This book feels very similar, what I like best is that she clearly explains the Chicago school and different ideas about economics. That in itself is worth the book. But the main point of the book at the examples (in South America, Russia, etc.) in which Neo-liberalism was put into practice, to some extent, and then the book takes on a more sensationalistic tone. Ok, the book is a best-seller, so you're probably already familiar with it.
3) Adbusters
Another useful book (read magazine) is the current issue of Adbusters: Thought Control in Economics. I've been reding Adbusters since I was a teenager, and wow, these guys have really come a long way! (Remember the McDonald's Grease stickers?) I don't read it often because it costs an arm and a leg in Germany, but I picked up this latest issue when I was recently in Canada. It's full of informative articles, discusses different perspective on Economics and is not overly over-the-head-bashing in its approach, which turned me off many of the earlier issues, and is also more informative than beligiert and beleaguering. It reads more like a book than a magazine. If you can stil find it on the newstands- pick it up! If not, get a back-issue order online.
3) Paul Krugman
I've only just begun to read article by Paul Krugman regularly. He is a regular contributer to the New York Times where he has a blog: The Conscience of a Liberal (i.e. From last week: How Did Economists Get It So Wrong?) and is also clearly on the left-of-center platform. If you are using Google Reader, you can find a list of his favourite reads with the Power-Reader feature (scroll down).
4) Marginal Revolution
For a very different perspective you can read the decidely conserative economist Tyler Cowen's hyper-activ blog Marginal Revolution, and his two-year old critique of Klein's Shock Doctrine he published in the New York Sun.
5) The Economist
Also on the other end of the spectrum is The Economist magazine itself, which is apparently founded on fiscal-conservatism, but often supports liberal politics. For instance they have featured the case for gay marriage in the US on their cover. So there are somehow mixed I guess. In any case there is always alot of information in each issue, plus special reports, so it is not bedtime reading, but once you get into it it gets easier to understand.
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