He takes the example of a baby-sitting co-op in Washington to explain why recessions happen. He also explains how banking was started when common people asked goldsmiths, who had better safes, to keep their gold safe.
If a Nobel prize winning economist, can do it, I am pretty sure humble product managers can convey their ideas through concrete, even silly sounding, examples.
If you are interested in listening to Paul Krugman, here is a video where he is talking to economists at MIT.
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