In one of the books I’ve recently read, author recommended to watch Ray Dalio’s How The Economic Machine Works. This is an excellent piece of content that brilliantly explains economy in the layman terms. I thought that this guy is not only an expert, but also an excellent teacher. Later I’ve found out that he is on a missing to pass on his knowledge further and so he is writing book about economy and cycles: Principles by Ray Dalio which is available online free of charge. He is a humble and straightforward man who built the largest hedge fund called Bridgewater.
The video briefly explains concepts like productivity growth, economic cycles, role of the central banks and credit availability as a driver of economic expansion, all in a form of a cartoon. The book is based on numbers going back hundereds of years to show in detail how and why economic cycles are happening to understand that this is inevitable fact for economy.