Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)".Political economy was the earlier name for the subject, but economists in the latter 19th century suggested 'economics' as a shorter term for 'economic science' that also avoided a narrow political-interest connotation and as similar in form to 'mathematics', 'ethics', and so forth.
A focus of the subject is how economic agents behave or interact and how economies work. Consistent with this, a primary textbook distinction is between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents (such as households and firms or as buyers and sellers) and markets, and their interactions. Macroeconomics analyzes the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy.
Ray Dalio (born in 1949 in Jackson Heights, Queens, New York, United States) is an American businessman and founder of Bridgewater Associates.
The son of a jazz musician, Dalio began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company.
Dalio received a BA from Long Island University and an MBA from Harvard Business School.
After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone. In 1975, he founded the investment management firm, Bridgewater Associates. As of January 2012, the company is the largest hedge fund in the world with nearly $120 billion under management.
Ray Dalio has written a pdf called "Principles" to share his life and business management principles with his employees.
Dalio is a practitioner of the Transcendental Meditation technique and resides with his wife in Greenwich, CT. According to Forbes he is the 44th richest person in America and the 88th richest person in the world with a net worth of $10 billion as of March 2012. Dalio has been labeled as the Steve Jobs of investing.
Thomas Sowell (born June 30, 1930) is an American economist, social theorist, political philosopher, and author. A National Humanities Medal winner, he advocates laissez-faire economics and writes from a conservative and libertarian perspective. He is currently a Rose and Milton Friedman Senior Fellow on Public Policy at the Hoover Institution at Stanford University.
Sowell was born in North Carolina, but grew up in Harlem, New York. He dropped out of high school, and served in the United States Marine Corps during the Korean War. He received a bachelor's degree from Harvard University in 1958 and a master's degree from Columbia University in 1959. In 1968, he earned his doctorate degree in economics from the University of Chicago.
Sowell has served on the faculties of several universities, including Cornell and University of California, Los Angeles, and worked for think tanks such as the Urban Institute. Since 1980 he has worked at the Hoover Institution. He is the author of more than 30 books.
Saul Levmore (born 1953) is the William B. Graham Distinguished Service Professor of Law, and former Dean of the University of Chicago Law School. He joined the faculty of the law school in 1998 and became Dean in 2001. In March, 2009, Levmore stated that he would step down as Dean and return to the faculty of the University of Chicago Law School. A search committee was formed and announced Dean Michael Schill of UCLA as his successor on September 8, 2009. Levmore's tenure as Dean ended on December 31, 2009.
Levmore had turned down the Deanship in 1994, citing the time it would take away from his family. Levmore is married to professor Julie Roin, who also teaches at the Law School.
His current research interests include information markets, public choice, commercial and corporate law, contracts, and torts. He has also written in the areas of game theory, reparations for slavery, insurance and terrorism, product liability, tax law, the development of real and intellectual property rights, and the regulation of obesity. He is widely published on these and other topics, and is the author of Super Strategies for Games and Puzzles and Foundations of Tort Law. He is the co-editor (with Martha C. Nussbaum) of the book THE OFFENSIVE INTERNET: SPEECH, PRIVACY, AND REPUTATION, published in 2010 by Harvard University Press; he also contributed an article on internet anonymity. Levmore is widely-regarded among the U of C student body as one of -- if not the most -- engaging lecturers on the faculty. He won the Outstanding Teaching Award in both 2011 and 2012. This is perhaps a consequence of his use of the Socratic method, joined with a biting sarcasm and a clever wit. In this way, his classroom presence, while dynamic, can be polarizing.
Ronald Ernest "Ron" Paul (born August 20, 1935) is an American politician who has been the U.S. Representative for Texas's 14th congressional district, which includes Galveston, since 1997, and a three-time candidate for President of the United States, as a Libertarian in 1988 and as a Republican in 2008 and currently 2012. He is an outspoken critic of American foreign and monetary policies, including the Military–industrial complex and the Federal Reserve, and is known for his libertarian-leaning views, often differing from his own party on certain issues.
A native of Pittsburgh, Pennsylvania, Paul is a graduate of Gettysburg College and Duke University School of Medicine, where he earned his medical degree. He served as a medical officer in the United States Air Force from 1963 until 1968. He worked as an obstetrician-gynecologist from the 1960s to the 1980s, delivering more than 4,000 babies. He became the first Representative in history to serve concurrently with a child in the Senate when his son Rand Paul was elected to the United States Senate for Kentucky in 2010.
Your words they tell like teeth through the rotten show
You say the moneys on the table
The moneys on the table
Well I don't think I'll be able to fetch the cash this time
No this time I think I'll walk away
Then I just might to be able I might be able
Think I might be able to respect myself this time
Because its part of me its economics
I do it well enough to get by I don't even have to try
Its not my whole life you are buying with every copper coin
No my friend I'm not for sale anymore
No this time I think I'll walk away
Then I just might to be able I might be able
Think I might be able to respect myself this time
Because its part of me its economics
I do it well enough to get by I don't even have to try
Its not my whole life you are buying with every copper coin
(Verse)
Welcome to economics, let’s now discuss the numbers,
The trap is more than racism, just know the class of
incession
Like there was never sum us, youngers hugging their
mommas,
And there is bad that they say the tool is the small
investment.
But with the debt and the struggling shawty working the
spit in
If they don’t take care of bills will be back to the
strippin
But she no different from the all street cats hustling
Selling dreams for green, having greed and hid the
convict.
Face painted white with the blackest color life on the
line
But what you give for the ass and money
The money before to get to dead presidents
Like the rims in these friends in the seven this
Vietnam at a glance through a better lens
Lost his partner and his fucking mind ever since.
Since Dallas made nothing but since
I’m dreaming so much bigger that I stood on cover in
A red porcupine, pinch in my tent, while 95% of America
controlled by 5%.
Why’d you give up? I ain’t discussing land or dimension
hoes
You get not to mention pimps.
And college is hard tuition with common sense,
Tell you youngers you been failed by the government.
Know the budget for you cops in all jury,
In a few years won’t be no social security.
People insurance ain’t assuring, we sure like sure be
the mad saying caring
Aren’t providing my family a bigger house, got it
gripping by a crib and mess in its account.
(Hook)
I’m ready for the grind, build for the hustle,
All I need is time, got the mind and the muscle,
G by design, I was bunked up by the struggle
On every means, climb to a higher level.
I’m progressing on pride, tires ripping the road,
Be addicted to fame, all my shit is in this dope
Soldier carries flame and I spit from the soul
Going back to the grain we’re so out of control.
Make the world go round, they told me money make the
world go round.
What make the world go round?
Welcome to economics.
I’m progressing on pride, tires ripping the road,
Be addicted to fame, all my shit is in this dope
Soldier carries flame and I spit from the soul
Going back to the grain we’re so out of control.
(Verse)
Crack these arenas filling, it’s like venus my sister
Either way I’m winning like the a William’s kid at
wimble
This life is so expensive, but you get this rare,
Cause you’ll be dead waiting for a pension.
I get that ringling money, that mean I’m with my
siblings
The ADF attitude ever since the beginning
Cause I don’t go by the rules, I swear the nigger
sitting
We party on, we were slaves, but we were so into it
like we wanna get paid.
Now you say it’s money over everything?
Shit, your life must be a bitch and she ain’t never
came.
But it’s cool, cause a heart is a house for love
And for my gang my heart beat like akky cane
Junior, younger fresh out of june
With this aura on his smile, still sublime consumers
Of cocaine, hoping that shit don’t change
For the boys come and get it on each lane till it’s
bang.
(Hook)
I’m progressing on pride, tires ripping the road,
Be addicted to fame, all my shit is in this dope
Soldier carries flame and I spit from the soul
Going back to the grain we’re so out of control.