On the way

The more models and policys are designed by the operators to get more profit from us,the more we need assign a undercover economist in there to work for us.That’s why we should read this book.It’s unnecessary to read this book with economic rudiments since they are introduced according to priority.

It is worth while to note that the author pays lots of attention to the developing economies,even a chapter for China solely.Here’s a interesting explanation for China’s ecnomic growth since 1985.Unfortunately,the three big “market failures” problems–scarcity power,incomplete information,externality,we have all of them simultaneously.

As for the Chapter 8–Why poor countries are poor,it seems like the author can’t explain it well.In my opinion,the bloody payment principle from Wu Si can explain it.Actually,it’s a political issue more than an economic one.

key word:market failure, scarcity power,incomplete information,externality,pseudoexternality,head start theorem

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