“Economics is a very easy subject. But it takes an expert to teach it. We’ll first learn the basics.India is a very big country. India needs lot of money. But most of the people in India have only small money. The sum of all this money is the money of the country. Corrupt people actually take some part of the country’s money to their homes so that they have big money. This creates inequality.
Communist people say that we should not keep money at our homes. If they ever happen to know such a thing they immediately rob us and takes this money to their party. Countries like America encourage people to make more money. Since they have lots of money, they put it in the banks. People who don’t have lots of money take loans from these banks. When they don’t repay all these all these banks collapse.
Due to globalization, people all over the world know each other. When people of India come to learn that American banks are collapsing, they panic and this may lead to problems in Indian economy. But since we don’t have much money in the first place nothing serious will happen.
If you can understand this much everything else is simple.”
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