The Economics I Know

Author: Mao Yushi
Publisher:
Publish Date: 2004-05-01
Features: Many years ago, Mao Yushi once said the following: "Can economics really help economic growth? The answer is very clear. Before the Keynesian theory emerged in the 1930s, the global Great Depression was exacerbated by misguided measures in macroeconomic policy, leading things to worsen. Now that we have Keynesian theory, governments have the tools of fiscal and monetary policy to combat recessions. It can be confidently said that such mistakes will never happen again. Isn’t this a great contribution of economics? On a micro level, tax system design, the formulation of international trade rules, the selection of environmental protection regulations, and the pricing principles of public services all rely on economic theory. For ordinary people, although they do not participate in the making of macroeconomic or microeconomic policies, they are the targets of these policies. Understanding policies versus not understanding them can lead to completely different outcomes. Moreover, issues like product quality, market rules, and participation in competition directly affect the daily activities of ordinary people. Popularizing economic knowledge will help improve the economic efficiency of the entire society." In this sense, learning some economic knowledge through this book will be extremely beneficial to us.