What is a market system? Essentially, it is one in which economic activities are left to men and women freely responding to the opportunities and discouragements of the marketplace, not to the established routines of tradition or the dictates of someone’s command. Thus, in a market system most individuals are not only free to seek work where they wish, but must shop around for a job.Heilbroner, Thurow
Economics explained | Robert Heilbroner, Lester Thurow
Before your eyes glaze over and you close the browser for me even suggesting to read an actual university economics text book, this is a great book and even comes with a seal of approval from Mr Money Mustache himself!
Heilbroner and Thurow even revise the book, and now in its fourth edition it is just as relevant today as it was when its first edition was published in 1998. The fourth edition focuses on the American economy as an example, but is just as relevent across the globe.
Economics Explained tackles core economic principles, as well as providing insights on the disturbing growing trends of income inequality, the rise of globalised capitalism, and the silent tax or hidden erosion of wealth through inflation.
Explained in straightforward language and with simple concepts, Economics Explained is a must read for building a solid foundational finance knowledge on the path to Financial Independence