"Saving is the engine’s fuel tank. Investment is the engine itself."
METAPHOR FOR IS BALANCE
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Economics and politics student from Germany. Interested in a broad field of topics and trying to easily break down topics from his studies to everyone.
In this post, I want to give you a first introduction into the goods market, presented through the IS-Curve. In future posts, I will conclude this rather simple and abstract model into the bigger picture. I hope this may help to understand economics a bit better in an easy way.
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James Watt faces difficulties
- James Watt lacked capital and was initially unable to construct a full-scale engine.
- In 1766, with investment from Joseph Black, Watt created a successful small test engine.
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