How Your Professor Should Have Explained
The Principles of Macroeconomics
It took over 9,000 years from the earliest human settlements to the dawning of modern states and modern banking systems circa 1500 AD.
It took several more centuries for the gradual appearance of reasonably accurate albeit sporadic descriptions of the role of states and banks in the creation of currencies and their profound roles of capital development and social coordination in both the public and private spheres.
This progress was briefly interrupted by an intellectual decline of Economics into a period of real-world irrelevance (1950-2000). However, led by a handful of pioneering economists, and not yet in classrooms or textbooks, earlier partial theories of the two coordinating systems of the macroeconomy were revived in the 1990s and then, more crucially, consolidated into a unified understanding of how real-world economies actually function. Economic understanding emerged into a Golden Age of which the present generation is in the exciting midst of.
1000 Castaways compresses this 10,000 years of economic development into several years and a society small enough to allow an illuminating overview, yet large enough to feature the institutions essential to modern economies. Centuries of economic thought are distilled for the reader to the essence of how the macroeconomy functions (and malfunctions).
[Draft of the forthcoming book 1000 Castaways: Fundamentals of Economics. I am posting chapters online to have it available as soon as possible and to receive input before a final version is released. I will be rolling out Chapters and linking them to this Table of Contents]
- Chapter 1: System One
- Chapter 2: System Two
- Chapter 3: Balancing the Two Systems
- Chapter 4: The Real World, System One
- Chapter 5: The Real World, System Two
- Additional Internet Material (Chapter 5)
- Further Considerations