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"Common Sense Economics" book that taught me economics in a very simple way

I came across this book at the 2023 Economics Olympiad, the whole Olympiad was organized on this book, and of course, I had to read this book. At first, the 400-page book seemed very difficult, as it is characteristic of economics. Still, as a humanist who loves social sciences, economics and every issue that affects our daily life, of course, all obstacles were overcome.

The book explains economic phenomena in very simple language and examples, how the economy works, what role it plays in our lives, how the economy is measured, or in general how, what the inflation of the lari depends on, and so on... However, the most interesting is probably Adam Smith's "Invisible Hand", I was personally surprised when I learned that a person can reach wealth personally, while all this enriches others and helps others to realize that Guys, it also made me think about religion, some quotes in faith may be written because of economic motive, or maybe at least it is written by human hands to achieve and manage the common welfare of people, so it is easier.

The book includes four chapters. The first three chapters deal with the economy itself, the economy in general, and fiscal and monetary policy, but the fourth chapter teaches us about finance, how banks work, when it's good to borrow money, how to insure ourselves against various financial risks, how the deposit system works and why "the compound interest rate is one of the most powerful forces in the world.

Finally, I want to say that this book will take you to the world you live in, but you will see it with completely different eyes and discover that money is not an invention of the devil.

Author: Luka Urumashvili



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