The free market economic system quite literally is the savior of the world. A study by the World Bank revealed that, in 1820, about 84% of the world’s population survived on just $1.90 per day per person. That’s grinding poverty. Today, less than 8% of the world’s population still lives on $1.90 per day (all are 2011 dollars). That’s dramatic. The free market economic system is lifting many billions of people out of poverty.
Yet, an astonishingly small number of people know how and why the free market system came into being or how it is able to create wealth so prolifically. That’s downright dangerous to everyone’s well-being. It’s important to understand the goose that lays golden eggs. Economic policies and proposals that actually hamper wealth creation abound. Misguided people advocate replacing what works so well with collectivist schemes that have already failed miserably many times, casting millions back into poverty and worse.
The book (cover shown below) is written clearly and simply so that virtually anyone can understand it. There is no unexplained jargon. It is quite short and very inexpensive. It is not an economics course, but the reader will gain a deep understanding of and appreciation for how the free market economic system works. It is an exhilarating and satisfying feeling when that bright light of comprehension clicks on! Enjoy. Available here: https://books2read.com/TheSaviorOfTheWorldByRoyMinet
Although money is not the main point in knowing about economics, sound money is something that is necessary for the operation of a free market economy. It is important to understand the difference between good and bad money. Few people could name the three kinds of money or the three functions that sound money must perform well. The below short story will clear up confusion:
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