Publisher's Synopsis
Economics For Everyone 2021 Edition examines the evolution of economic thought and the historical events that have affected the economic growth of the world's industrialized countries. The book contains a wide variety of economic and political theory from Karl Marx on communism to Ronald Reagan on supply side economics and Milton Friedman on Monetary Policy. The major theories of micro and macroeconomics are discussed, but the primary emphasis is how these theories were developed and taught by those economists who invented them in the first place.
The book contains the most recent economic data available from the federal government. For example, the 2021 Edition has information on the federal debt and deficit for fiscal year 2020, GDP through the first quarter of 2021, employment data for December 2020 and April 2021 and an analysis President Biden's spending plans for fiscal years 2022 and beyond.
The book also provides some analysis of recent government funding requirements. For example, The Federal Reserve added $2.98 trillion in U.S. government securities to their balance sheet in 2020. They received $87.3 billion in interest payments from Treasury and at the end of the year returned $86.9 trillion to treasury. The result was that the Treasury indirectly sold almost $ 3 trillion in securities at a cost of almost nothing.
