The ECB’s decision was obviously the right thing to do, for reasons that were relatively simple. But seeing how controversial its move was, it occurred to me that the world needed a simple explanation of how the economic machine works, because if everyone understood the basics, then economic policymakers would be able to do the right things a lot faster and with less angst in the future. That led me to make a thirty-minute video, How the Economic Machine Works, which I released in 2013. Besides explaining how the economy works it provides a template that helps people assess their economies and
...more
