The first working day of 2016 didn't start easily. Futures indicated a dramatic low opening driven by the concerns of Chinese economics meltdown, which had dragged down Chinese stock markets earlier. I caught a comment on CNBC I forget who said it that Chinese Real GDP growth would drop to 2%. Wow, it was pretty pessimistic. However, I wouldn't worry about my investments, which is set for long term growth.
It's a long day for me, you can imagine, this probably was the same fact for a lot of people who started the first day of work in the new year. Coming back home to have a late dinner, I had slept without going to gym since half an hour ago. As I shared that I bought several books at Barnes & Noble. Tonight I started thoroughly reading one of them: Economics Rules - The Rights and Wrongs of the Dismal Science written by Dani Rodrik.
I can't spend too much time since it's already 1:24 in the morning on Tuesday and I will be on road to work in five or six hours again. So, I only read Preface & Acknowledgement. It sounds that the author is trying to achieve two goals through this book:
- General economics theories, which were set by Adam Smith and Karl Marx who attempted to resolve universal social issues, are being given up. Instead, specific models are having specific issues tackled;
- The author is trying to build a bridge between economists and noneconomists:
- Economists need to let other understand their world;
- Others should appreciate and emulate economists' work.
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