The structure and details of investing is one place pop “economists” seem to love to be ignorant. For example, we have the eminent Thomas Piketty, who says the return on investment in capital exceeds the overall rate of growth of the economy. We’ll get into that in more detail in a minute, but first let’s start with a great example of what he’s missing: the potential downsides of investment.
Tag: free market
I recently read Per Bylund’s short and sweet little introduction to economics. It’s a small book at 132 pages and a fairly light read. It is available for free online at the Mises Institute and hard copies are inexpensive, or even free at some official Mises events.
The book provides a solid introduction to economic theory with a special focus on distinctly Austrian concepts, such as entrepreneurship. It is generally clear and succinct, and manages to make a variety of excellent points on a variety of topics.
A few highlights include: