A Summary

DECODING THE ECONOMY is a beginner's primer that demystifies economic booms and busts and explains how profits rise and fall as the world economy changes. The book reveals how economists think about the economy and highlights Bernard Lonergan's ideas. By focusing on the dynamics of production and money Lonergan flags the differences between capital and consumer goods, and shows how our actions can offer the rewards of innovation and growth to everyone.

• What is the role of the Government in the economy?
• Can the politics of governments shape economies?
• What international coordination does the world economy need?

Apropos to today, economists have often urged governments to maintain stable money flows. But in our dominantly market economy, which has the advantage of freedom and choice, finance is by no means mainly controlled by governments. Large private international financial movements do exist, and can be volatile and disruptive.

By decoding the economy for ourselves, we can learn ways to make economic, political and social choices that will benefit everyone.