“The economics profession is like the Catholic clergy” … unless “you knew Latin, you couldn’t read the bible. Today, unless you are good at maths and statistics, you cannot penetrate the economic literature.” (FT∅). THe video below begins to de-mystify economics.
This video-clip explains why everyone can and should understand basic economics. It’s created by Ha-Joon Chang, a South Korean institutional economist specialising in development economics and currently at the University of Cambridge. He reveals the mystifying language of derivatives and quantitative easing and explains how easily economic myths and assumptions become gospel.
Get the facts yourself and get involved in discussions about the fundamentals that underpin our day-to-day lives.
Read the transcript here.