Thaler, R.H., 2016. Behavioral economics: Past, present, and future. American Economic Review , 106(7), 1577–1600. S., 2020. The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy . PublicAffairs. G.A., 1978. The market for “lemons”: Quality uncertainty and the market mechanism. In Uncertainty in Economics (pp. 235–51). Academic Press. J., 2016. Other People’s Money : Masters of the Universe or Servants of the People? London: Profile Books Ltd. Though I am not a dog person, I did find the format fun -- each basic microecon or macroecon lesson is framed as a walk on which she's taking her dog Monty to converse about these topics. Often Monty's input is a minor joke about food or bones, or just asking her to define a jargon term, but occasionally he gets off some edgy lines, e.g., "being laughed at by a dachsund is like being called stupid by a boxer" (p. 260) (ooh, snap!)

the bath metaphor, strictly speaking the plug represents not just your spending but any depreciation in the value of your assets. also does not take into account any of the fees that you might pay on your investments, which can make a big difference. M., 2002. The Protestant Ethic and the “Spirit” of Capitalism and Other Writings . Trans. and ed. Baehr, P.R. and Wells, G.C. Penguin Books. works most of the time. In the financial crisis of 2008, it turned out that the risks were not diversified but correlated.

Footnotes

I enjoyed this book because it introduced me to a topic of global importance under the guise of a fun holiday read. It is very much aimed at the beginner without any formal economics education when it comes to classical economic theory, but covers a lot of concepts that help us understand some of the decisions being made by the policymakers and industry leaders around us. It also begins to arm the reader to critique some of the more dubious ideologies and approaches demonstrated by people in power. G., 1968. The tragedy of the commons: the population problem has no technical solution; it requires a fundamental extension in morality. Science, 162 (3859), pp.1243–8. It should be noted that the concept was originated by William Forster Lloyd, who used the example of the problem of unregulated grazing on common land in Great Britain. Hardin developed this idea and applied it to the concept of human overpopulation. He argued that in nature, overpopulation is self-regulated. If parents only relied on themselves, then the number of children they had was not a matter for wider society. If they could not feed their children they would die, and so the system would self-regulate. He argued that a welfare state would lead to a tragedy of the commons. If parents knew that the state would provide, they would overbreed and Malthusian tragedy would follow. Hmmn. R., 2020. Book Review: ‘The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy’. Quarterly Journal of Austrian Economics , 23(2), 232–51. https://doi.org/10.35297/qjae.010069 R.L., 2011. The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers . Simon and Schuster. J.M., 2010. ‘Economic possibilities for our grandchildren’. In Essays in persuasion (pp. 321–32). Palgrave Macmillan.

U. and List, J.A., 2006. ‘Putting behavioral economics to work: Testing for gift exchange in labor markets using field experiments’. Econometrica , 74(5), 1365–84. Chapter 21: Walk 15 Part I: Depressions, Recessions and What Governments Can Do to Help: Fiscal Policy estimates are in constant prices (i.e. they have been adjusted for inflation) and are indexed at 1913 values. See: https://ourworldindata.org/trade-and-globalization We are experiencing delays with deliveries to many countries, but in most cases local services have now resumed. For more details, please consult the latest information provided by Royal Mail's International Incident Bulletin.Chapter 16: Walk 11 Growth: How We Can Make the World a Better Place for the Gacoteras and the Chowdhurys Heilbroner, R.L. and Milberg, W., 2012. The Making of Economic Society . Pearson Education Company. T., 2011. The Toaster Project: Or a Heroic Attempt to Build a Simple Electric Appliance from Scratch . Chronicle Books. Chapter 22: Walk 15 Part II: Depressions, Recessions and What Governments Can Do to Help: Monetary Policy C.I., 2016. ‘The facts of economic growth’. In Handbook of macroeconomics (Vol. 2, pp. 3–69). Elsevier. (They credit Abramovitz with this description p. 9.)