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The Economics of Good and Evil
Video

The Economics of Good and Evil

RSA, 2011

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Editorial Rating

8

Qualities

  • Innovative

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.

Take-Aways

  • Governments should save during prosperous times to provide for the inevitable lean years. Slowing GDP growth during robust years is a wise idea.
  • During the strong 2001–2008 economic cycle, people spent far more than they made.
  • The “dynamic fiscal rule” states that “deficit plus GDP growth should be less or equal to a constant.”

About the Speaker

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