Understanding Economic Equilibrium: Making Your Way Through an Interdependent World

The world economy is a dynamic process that balances competing interests, and Dr. Thomas Cunningham identifies this process as The Equilibrium Principle. Understanding Economic Equilibrium will help readers understand the integration of the world's economies and how they affect and are affected by them. It clarifies complicated economic issues and events, using examples and plain language to provide the knowledge and understanding readers need to improve their personal and business finances.

Format: Paperback / softback
Length: 150 pages
Publication date: 11 May 2021
Publisher: Business Expert Press

The world economy is a complex and ever-evolving system that delicately balances the interests of those who supply goods and services and those who consume them. Dr. Thomas Cunningham has aptly identified this dynamic process as The Equilibrium Principle, a continuous and pervasive state that shapes and influences all economies, whether national, local, or personal.

Understanding Economic Equilibrium is a valuable resource for readers seeking to gain a deeper understanding of the intricate interconnectedness of the world's economies and their impact on individuals and businesses. The book employs clear and concise language to explain complex economic concepts and events, making them accessible to a wide range of readers. By using real-world examples and historical insights, the book provides readers with the knowledge and tools they need to improve their personal and professional financial literacy.

One of the key insights offered by Understanding Economic Equilibrium is the concept of full employment. While it may seem like a desirable goal, the book argues that it can actually create economic problems. When the economy is operating at full capacity, wages may stagnate, and businesses may struggle to find workers willing to accept lower wages or work in less desirable positions. This can lead to inflation, increased unemployment, and a lack of economic growth.

Another fascinating aspect of the book is its exploration of the stock market's volatility. While it is commonly believed that the stock market is a reflection of the overall health of the economy, the book reveals that it can be influenced by factors that have nothing to do with economic fundamentals. For example, when business is good and corporations are profitable, the stock market may become volatile as investors become overconfident and start selling their shares. This can lead to a market crash and significant losses for investors.

The COVID-19 pandemic has further highlighted the importance of understanding economic equilibrium. The global shutdown and economic uncertainty that resulted from the pandemic have disrupted supply chains, disrupted consumer behavior, and caused a significant decline in economic activity. Understanding Economic Equilibrium provides readers with insights into how the pandemic has changed the way the world's economies operate and interact, and how individuals and businesses can adapt to these changes.

In conclusion, Understanding Economic Equilibrium is a comprehensive and insightful book that provides readers with a deeper understanding of the world's economies and their impact on individuals and businesses. Whether you are a student, professional, or simply interested in improving your financial literacy, this book is a valuable resource that will help you navigate the complex and ever-evolving economic landscape.

Weight: 333g
Dimension: 229 x 152 (mm)
ISBN-13: 9781637420386