Hak Choi: 56 books

Book cover of Interest Rate: A Centuries Old Mystery and Conspiracy
by Hak Choi
Language: English
Release Date: June 29, 2012

This book is a, brief but critical, historical account of economists' failed attempts to derive a theory for interest rate. The consequence of this failure and the blind-driving of policies guided by defunct GPS is the ordeal, previously experienced by many countries in the world and now torturing the smaller European people, which, the author proves, is a centuries old conspiracy.
Book cover of Risk & Game
by Hak Choi
Language: English
Release Date: March 14, 2018

What is game? What is game theory? What is bargaining? What is risk? What is uncertainty? What is expected utility? What is moral hazard? How to cheat in game or in insurance? This book overturns many traditional views on these issues, and derives new method to play game, to bargain, to cheat and to protect against cheating.
Book cover of Depreciation and the Currency Wars
by Hak Choi
Language: English
Release Date: November 10, 2017

What is currency war? It is the use of depreciation to fight the trade war, in order to capture foreign reserves. But why are backward countries remain backward, though they have been depreciating all the time. This book will prove that wielding the depreciation weapon to fight the war is futile. Apart...
Book cover of Road or Traffic
by Hak Choi
Language: English
Release Date: May 8, 2019

Is road the same as traffic? Up till now, economics has treated road and traffic as one. Instead, this book handles them separately, but the two are linked together by a key element: toll, even a zero one. Is road private or public? This book shows that the distinction is not so simple. This book...
Book cover of Environment
by Hak Choi
Language: English
Release Date: May 12, 2018

Ronald Coase described a story: the cows of a cattle-raiser sway to his neighbor and destroy the farmer’s crops. That damage is called external cost. External cost means a cost not borne by either the buyer or the seller, and hence the cattle-raiser can sell his beef at a higher price, while consumers...
Book cover of Keynes: Untold
by Hak Choi
Language: English
Release Date: March 16, 2018

John Maynard Keynes is the most famous economist after Adam Smith. His best saying is: In the long run we are all dead. He thus recommended spending before it is too late. But such recommendation led to the downfall of many ambitious dictators, like Hitler and Chiang Kai Shek. It also costed half of US stock of gold. Don’t believe it? This book will work out all the ramifications.
Book cover of Solow: Untold
by Hak Choi
Language: English
Release Date: March 17, 2018

Robert M. Solow is held as the main contributor to the theory of economic growth. Some think he taught us how to accumulate capital, while some even think he invented technological growth. This book proves that the major content of his growth theory is steady state. What is steady state? It means...
Book cover of Ramsey: Untold
by Hak Choi
Language: English
Release Date: March 20, 2018

Frank Ramsey seemed like a mysterious person. He was a mathematics, but was enlisted by JM Keynes to conduct economic research. His growth paper looked very difficult, but perhaps because it was full of errors. For example, he tried too many objectives, sometimes saving, sometimes consumption, sometimes...
Book cover of Nash: Untold
by Hak Choi
Language: English
Release Date: March 24, 2018

What is bargaining? What is game theory? These two topics were initiated by John Nash. But did he solve the the bargaining problem? Did he love playing games? This book will give you three surprising answers. His distribution solution is unfair, and does not reach the vertex of social welfare. His way of playing game or war is not only self-defeating, but also laughable.
Book cover of Ricardo: Untold
by Hak Choi
Language: English
Release Date: March 24, 2018

Unlike other economists, David Ricardo has produced some innovative theories. His most famous theory is the use of comparative advantage to explain international trade; his rent theory is also widely applied, but his most influential theory must be his explanation to the “diamond-water paradox”....
Book cover of Criminology
by Hak Choi
Language: English
Release Date: March 2, 2018

What is crime? Many people, without knowing what crime is, start to tackle crime. But how to tackle crime? The existing way is to punish the offenders, but such method is merely emotional. This book proves that punishment has only insignificant impact, but it does not eradicate crime, more than that...
Book cover of Marketing & Competition
by Hak Choi
Language: English
Release Date: November 15, 2017

What is marketing? According to McCarthy, it is about 4P. This book proves that only 3P’s are effective. The first P is price, but most scholars recommend only price reduction. This paper proves that sometimes price increase is the right move. The second P is place. This book is the...
Book cover of Domestic Free Trade
by Hak Choi
Language: English
Release Date: November 22, 2017

This book advocates domestic free trade, because many countries do not have it. This book describes how a country first resists foreign free trade, then resists domestic free trade. This book proves that the absence of domestic free trade is more disastrous than the absence of foreign free trade.
Book cover of Re-Switching Production
by Hak Choi
Language: English
Release Date: June 8, 2018

What is capital? Some say it is machine or factory, some say it is money. When general laymen cannot say it clearly, they can be forgiven. But when economists cannot explain it clearly, they are too sloppy and irresponsible. That is how Joan Robinson blamed them in 1953. Solow (1955), having read...
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