Economic theory in practice

Description

This book attempts to explain what exactly "Economics" is and whether or not the theories it espouses actually work in the real world. It addresses how it is taught in colleges across the United States and the world, how it is deeply flawed and what the future holds for economies around the world, especially in the context of mega-banks that impact Main Street more now than they did in the past. This book will explore how derivatives have swarmed the balance sheets of banks and how governments throughout the "free world" have guaranteed private profits for banks, but have socialized losses for these same banks, impacting the taxpayer, and putting the economy at increased risk as volatility and leverage increase over time. Read more... Abstract: This book attempts to explain what exactly "Economics" is and whether or not the theories it espouses actually work in the real world. It addresses how it is taught in colleges across the United States and the world, how it is deeply flawed and what the future holds for economies around the world, especially in the context of mega-banks that impact Main Street more now than they did in the past. This book will explore how derivatives have swarmed the balance sheets of banks and how governments throughout the "free world" have guaranteed private profits for banks, but have socialized losses for these same banks, impacting the taxpayer, and putting the economy at increased risk as volatility and leverage increase over time