Special Economics : Planet Money My friend Owen (inspired by the above comic) started poking around on the simple english version of Wikipedia for various economic terms.
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Special Economics

My friend Owen (inspired by the above comic) started poking around on the simple english version of Wikipedia for various economic terms.

It's like the Wikipedia you know and love, except that all the definitions are supposed to only use the most common 1,000 words in the English language. It's intended for people around the world who are just learning the language. But it has the happy side effect of eliminating all that awful economic jargon.

Owen particularly liked the entry on money, which begins:

"Besides being easier to carry than cows, using money had many other advantages. Money is easier to divide than many trade goods. If someone own cows, and wants to trade for only "half a cow's worth" of wheat, he probably does not want to cut his cow in half. But if he sells his cow for money, and buys wheat with money, he can get exactly the amount he wants."

He laments there is no entry for collateralized debt obligation. Anyone want to take a whack at it?