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Ask HN: I have no idea about world economics. How I can fix that?

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Re: Ask HN: I have no idea about world economics. How I can fix that?

#21
post #5
post #2

The Economist might be a good starting point? https://www.economist.com/ For a narrower focus, the Wall Street Journal (New York) and the Financial Times (London) are probably the primary English-language sources for financial news.

Thanks, this is however more "mainstream" and more adjusted to the masses. I'm looking for something deeper with analysis, rather than click-bait titles.

You might like to consider Noam Chomsky's take on the Financial Times in https://www.ft.com/content/bcdefd38-3beb-3506-b24c-82285ac87... from 2013:

> [T]he business press has a different incentive to get the facts right, Chomsky says, which is why the FT is his regular read. “Those who Adam Smith called ‘the masters of the universe’ have to understand the universe. They have to have a tolerably realistic understanding of the world that they are managing and controlling. That’s true of political elites as well, but the business world particularly. Also, the business press essentially trust their audience. They don’t have to impose propagandistic illusions to keep the rabble under control.”

Re: Ask HN: I have no idea about world economics. How I can fix that?

#22
post #5
post #2

The Economist might be a good starting point? https://www.economist.com/ For a narrower focus, the Wall Street Journal (New York) and the Financial Times (London) are probably the primary English-language sources for financial news.

Thanks, this is however more "mainstream" and more adjusted to the masses. I'm looking for something deeper with analysis, rather than click-bait titles.

Ok -- for a less general audience, I also like "Foreign Policy" (https://foreignpolicy.com/), and particularly, "Foreign Affairs" (https://www.foreignaffairs.com/).

In my view, they have a more US-centric point of view (even more than the Economist), and are obviously less oriented towards economics, but they have some in-depth coverage that's worth a look.

Re: Ask HN: I have no idea about world economics. How I can fix that?

#24

Earlier quoted context omitted.

If one wants to make money, what would you suggest as you said economics won't help?

Just put your money into an index fund? If you think you have an edge, go ahead and trade, but I don't think any "special" knowledge will help.

Actually, In the country I am from, Active funds still handily beat Index funds as of today.

Understanding Macro cycles via economics might be part of the said 'edge'.

Re: Ask HN: I have no idea about world economics. How I can fix that?

#25
You can read some of the essays John Keynes wrote, still as relevant as when they were wrote, especially now with the pandemic and inflation.

even if you don't end up agreeing with his views(I do agree, and I think he is very underrated), its still a very good and eye-opening reads.

https://www.gutenberg.ca/ebooks/keynes-essaysinpersuasion/ke...

Re: Ask HN: I have no idea about world economics. How I can fix that?

#28
I went down a similar road with curiosity and little prior knowledge.

I'll say some of the best resources I found were macroeconomic textbooks on specific economic subjects.

For example I really enjoyed this one for understanding how the fed and the central banking system works broadly.

https://www.amazon.com/Central-Banking-Sustaining-Financial-...

At a higher level though one of the few non-textbooks I would reccomend is Capital in the 21st Century by Thomas Piketty. It's an introduction and history of many topics and an enjoyable read.

https://www.amazon.com/Capital-Twenty-First-Century-Thomas-P...

Re: Ask HN: I have no idea about world economics. How I can fix that?

#30
post #18

Maybe slightly off topic, but economics have philosophical underpinnings that are worth studying. A a very rough, very incomplete chronological list: Smith, Marx, Keynes, Friedman, Hayek, Piketty. Big Thinkers have thought deeply and thoroughly about this topic and have a surprisingly strong influence on what happens in the grand scheme of things. They have conflicting ideas and political stances. But still, you'll f…

I would add author Kim Stanley Robinson to this list. He refers to his work as "political science fiction" and makes the case that climate change will require humanity to re-evaluate capitalist economic structures and priorities that have treated the environment as externalities, while prioritizing short-term profit for the few over the longterm well-being of life on earth.

Strategic debt default is a key plot point in "New York 2140". "Ministry for the Future" explores Keynes and Piketty, and has a strong focus on how we could re-tool economies to incentivize atmospheric carbon reduction and actually meeting human needs.

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