Summary of The Economics of Good and Evil

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Recommendation

As the globe recovers from an economic downturn, citizens and world leaders want economists like Tomáš Sedláček to become saviors. Instead, he holds up a mirror to their poor choices. Even those who struggle to decipher fiscal formulas and economic jargon will grasp most of Sedláček’s points, which he explains through various entertaining metaphors. For that reason, getAbstract recommends this worthy economics lecture to laypeople and experts alike.

In this summary, you will learn

  • Why economic advice from the bible and other ancient texts still holds true,
  • What formula to use for sound economic thinking and
  • Why borrowing money with interest is not a good choice.
 

About the Speaker

Tomáš Sedláček lectures at Charles University in Prague, Czech Republic.

 

Summary

The bible provides what may be history’s first record of a business cycle. Genesis 32 describes a pharaoh’s dream in which seven fat cows precede seven lean cows. Joseph, a Hebrew prophet, interprets the dream, explaining that the pharaoh...

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