In This Chapter
• The effects of the business cycle
• Applying principles of economics in your business
• Economics and investing
You are now positioned to nod knowingly when someone starts moaning about the inverted yield curve. You can argue intelligently for a tax cut or a tax increase—or both, if you really want to confuse people. To confuse them further, you can lecture on the need to spend money to boost consumption and to save money to build the nation’s pool of investable funds. You can hold forth on trade policy and can explain why the Social Security system will be a mess within 10 years.
As an anonymous economist once said, “That and 15¢ will get you on the subway.” (He said it in 1957, when the ...