The Economics Book Your Economics Professor Doesn't Want You to Read
This book presents the XYAB theory of economics. The XYAB theory of economics takes the basic idea that people create value, people consume value, and people trade what they create in return for what they consume, and then explains how this simple principle can be applied to macroeconomics. It explores the role of money as a means for complex multi-point trades among economic actors, and why value must be created by someone in order for a benefit to be consumed, even if it is not created by the person who consumes its reciprocal. XYAB explains why "making money" means creating value, and why to spend money is to consume resources that someone else made.
XYAB is explained lucidly using the visualizations of the triangle of trade and the circular pool of value, with a combination of scholarly precision and real world wisdom that is readable and clear. Here you will see, in detail, why capitalism works, and why socialism is not a superior alternative.
Many arguments are made that you will not find in any other book, such as precisely why the government printing new money causes inflation, and how the creation of new wealth causes deflation that helps poor people in proportion to how few dollars they own. The XYAB theory illuminates complex issues of economics in a way that makes it easier to understand the libertarian defense of capitalism.
Necessary reading for any serious student of free market economics.
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