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List the books (and films) that should be read to understand what HPC posters are 'going on about'.

My starter for 10:

book: 1984

book: Atlas Shrugged

film: V for Vendetta

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Books that helped me get up to speed a little and make sense of posts on here that assume an awareness of how capital sloshes around the world and how the globalization of world trade has impacted different economic actors differently without just settling for a Nostalgia Hulk style "GLOBAL TRADE BAD. NOSTALGIA HULK SMASH PUNY HUMANS AT URUGUAY ROUND" , (H/T the original and greatest ECONOMIST HULK for the gag).

Globalizing Capital: A History of the International Monetary System, Barry Einchengreen

The Globalization Paradox, Dani Rodrik

The Great Rebalancing, Michael Pettis

Fault Lines: How Hidden Fractures Still Threaten the World Economy, Raghuram G. Rajan

If you can't be *rsed to wade through all that Dambia Moyo's How the west was lost will give you a more digestible but still informative and helpful comic book version of most of it.

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If you can't be *rsed to wade through all that Dambia Moyo's How the west was lost will give you a more digestible but still informative and helpful comic book version of most of it.

The meaning of all this gloom and doom is that governments can no longer support the generally liberal welfare systems of yore. Plus, something more needs to be done then hacking at the welfare budget: Ms Moyo claims to have some radical ideas here. Sorry to report but the most important part of the book is where I have to fundamentally disagree with the author. Protectionism she thinks is the answer: - the USA should in some way decouple (autarky)from the World trade system that it helped set up in the first place and debt default. Also government should reign in commitments like pensions and welfare and invest much more heavily in R and D. Fair enough, but how is this to be done? She also thinks that Europe ought to be left to drift off into oblivion as a failed trade bloc, to die slowly of its own self-inflicted wounds, unmourned and irrelevant.

Seems like a cheery bedtime read! COTB!

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Seems like a cheery bedtime read! COTB!

:lol:

49.jpg

Well to paraphrase notable fictional Vietnam veteran and bowler, Walter Sobchak,

.

Tend to be in the pub drinking delicious beer as I read, which takes the edge off. Mine's a Maldon Gold.

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Without wishing to get into the ins and outs of tariffs and capital controls, next time Cameron bores on about the "global race" it would be nice if someone would ask him if he didn't think that it was more like a mass brawl and that we the UK were the inept drunk getting thumped repeatedly by everyone else, much like the Brazilian basketball players at the link.

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Book - Whoops!: Why everyone owes everyone and no one can pay by John Lanchester is a nice introduction to both finance and the crisis for bears of small brain.

Film - Inside Job is an excellent documentary on the crisis, and will have you frothing at the mouth all over again.

Book again - A different era and a different crisis, but Jonathan Raban's "Bad Land: An American Romance" is a fascinating account of how politicians and banks, working together, can really fvck over the little guy...

Oh, and

is pretty much my most favourite boring thing ever... Edited by tomandlu

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List the books (and films) that should be read to understand what HPC posters are 'going on about'.

Whichever of Pratchett's books introduced the Pork Futures Warehouse explaining money creation.

Sorry, can't remember which book it was (the warehouse plays a cameo role in several of them, and its role in plots concerns its effect on the city's trolls, which is unrelated to money creation).

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By far the best summary ever, a very short video (just 4 minutes), yet explains very clearly all main causes of this bubble.

Edited by Tired of Waiting

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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