How the Economic Machine Works

前言

基础知识：三十分钟看清经济机器如何运转 from 李笑来

Ray Dalio， Bridgewater的帮主，在30分钟的视频《How the Economic Machine Works》中深入浅出地讲解了经济机器如何运转。

为什么要看呢？

有神级人物的比喻解读，帮助小白直接透过现象看本质。值得反复琢磨。

视频链接（含中文字幕）
看完视频，还是找原文看看，全书300页左右。视频只对应第一章，仅有二十多页。

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学习笔记

Just some bullet points

A Transactions-Based Approach

An economy consists of the sum of transactions.

A transaction consist of the buyer giving money or credit to seller and seller offering a good, a service, or a financial asset to buyer in exchange.

How economy looks like?

Different from the model descried in traditional perspective.

1. The traditional way of looking at the relationship between supply, demand and price measures both supply and demand via the same quantity number (i.e. at any point the demand is equal to the supply which is the amount of quantity exchanged) and the price is described as changing via what is called velocity. There is no attention paid to the total amount of spending that occured, who spent it, and why they spent it. Yet, in any time and across all time frames, the relationship between the change in the quantities exchanged and the change in the price will change based on these factors that are being ignored. Throwing all buyers into one group ( rather distinguishing between them and understanding their motivations) and measuring their demand in terms of quantity bought( rather than in the amount spent) and ignoring whether the spending was paid for via money or credit, creates a theoretical and imprecise picture of the markets and the economy.

The biggest buyers&sellers are central bank and central government.
government receives tax, buy things and sells bonds, while central bank control the amount of money and credit by the means of changing interest rate and printing money.