They don’t teach economics in public schools anymore. Not real economics. If they did, the citizens of the United States would revolt.
If you want to assess the risk of an economic melt-down, you need a basic understanding of economics. I’m not talking about the complex mathematics. I’m talking about the common-sense fundamentals anyone except career politicians can understand.
The start of your education is to read the articles in this blog, but I want to recommend Richard J. Maybury’s marvelous little book titled “Whatever Happened to Penny Candy?” This is the book I most often recommend to people I encounter. It has done more for a general understanding of the world we live in than any other book I know except the Holy Bible.
You might be thinking that $14.95 is too much to pay for a 190-page paperback, but it’s probably the best value you’ll ever find in an economics education. It’s like an entire semester’s course in economics. In fact, I’ve used this book as part of my home school curriculum.
So buy “Whatever Happened to Penny Candy,” and then click on the Econ 101 category in the sidebar to get started on your primer in economics.