Common Sense Economics Essays

712 Words Dec 8th, 2012 3 Pages

Professor Coppedge

December 5, 2011

Common Sense Economics

Common Sense Economics is packed with valuable information, and approaches presenting this information in a way that is less dry than a conventional textbook. Although there is a lot to learn in this book, I feel like I have already been introduced to 90% of the content in class, this book is simply a supplement and review. The book is broken down into 4 sections: Ten key elements of economics, Seven major sources of economic progress, Economic progress and the role of government, and Twelve key elements of practical personal finance. I believe the discussion of personal finance outlined in the fourth section, while important, is outside of the scope of
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Of the second section in the book: Seven major sources of economic progress, I find point number 4 the most interesting. An efficient capital market, this is something that I had not thought of when considering things that need to happen for the economy to grow, it is something that happens behind the scenes and you don’t hear much about it, but it seems like one of the more important driving forces. If there is no-one investing capital into wealth creating projects then the economy will continue to only grow minimally until there is a way of getting money into the hands of investors. I believe that investors need to have low barriers to entry, IE taxes and fees, but they do need to be held accountable for any botched projects, this will give investors a reason to seek out good investments and let the bad investments sink rather than making Americans pay for them. Perhaps one of the more interesting topic of discussion is: Economic progress and the Role of Government. This topic can go on for days, but the basic functions that the government needs to fulfil in order for the economy to progress are: protect the private rights of individuals and supply goods that cannot be provided through markets. There are many things that can impede the government from doing it’s job, the most prevalent in my opinion is human nature. Voters vote for politicians promising the most benefit to them, ignoring rule 10 of part

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