“At least you should have this much economic common sense.
Wherever I go, I don't hear any complaints!

For 5 years, we have been consistently providing our readers with
A beloved introduction to economic common sense!

First published in 2019, 『Economic Common Sense: A Fool's Guide to Ignorance』 has been consistently supported by "economically illiterate" readers for over five years since its publication.
The author of this book, Hyunwoo Lee, runs the YouTube channel “Economic Common Sense: If You Don’t Know It, You’ll Be Fooled,” where he provides his subscribers with economic common sense that can help them lead a comfortable and happy life.
This 2024 revised edition encompasses the latest economic knowledge, including the high interest rate trend in the post-COVID-19 era, the resulting changes in various economic situations, the rapid changes in the international situation, and the emergence of new technologies.
This book, "Economic Common Sense: A Guide to Economics", which was selected for the Sejong Books' liberal arts category in the year it was published, was widely recognized for its content and structure, and will continue to serve as a reliable guide for many readers in developing their economic knowledge even in 2024.

Now we need to change our thinking.
We need to shift the question from "When will interest rates fall again?" to "How do we prepare for the new era ahead?"
Interest rate changes will alter the global money flow, and as a result, companies will move to seek new wealth, bringing about significant changes in jobs and asset markets.
This is a huge trend that individuals cannot change.
It is our choice whether to be swept away by the flow or to ride the changing times.
--- p.4~5, from “Author’s Note for the 2024 Revised Edition - Are You Ready for a New Era of Change?”

This is also how interest rates affect our economy.
If interest rates are high, our money in our savings account will grow well.
However, if the interest rate is too high, many companies may suffer from a cash drought and go bankrupt, and conversely, if the interest rate is too low, the money in our bank accounts will not grow.
I need to be well-versed in interest rates and market conditions to be able to manage my real estate and stock investments well.
--- p.43, 「1-7.
From "Why do stock prices plummet when interest rates rise?"

What should you do if your lease expires and you need to move out, but your landlord says they can't return your deposit because they don't have the funds? This can be a very difficult situation for tenants.
If the worst happens and the landlord's house goes up for auction, I may only get a portion of my deposit back.
To prepare for such situations, tenants must obtain a confirmation date from the community center when they first find a home and move in.
This is a necessary procedure to ensure that my rights are protected to a minimum in the event of the unfortunate event of my house being auctioned off later.
--- p.124~125, 「2-7.
How to avoid having your deposit for rent or monthly rent stolen?

Can we artificially set a fair real estate price? It's generally believed that policies designed to stimulate the real estate market, such as lowering interest rates, can lead to a rise in the real estate market.
But this is half true and half false.
Cutting interest rates means the economy is already in bad shape.
It's about supplying oxygen called money through interest rate cuts.
It's like giving artificial respiration to a patient who has collapsed.
--- p.246, 「3-13.
From "What is the fair price of real estate?"

Zombie companies, which hinder long-term growth, are dead but not dead.
Restructuring is necessary to get rid of zombie companies.
This could cause many people to lose their jobs and have a serious impact on the local economy.
But if we delay restructuring because we don't want short-term pain, we will face greater pain.
It's like if you resist going to the dentist to get your rotten tooth pulled, you'll end up with a bigger illness.
--- p.321~322, 「4-13.
From "Why Low Interest Rates Create Zombie Companies"

China's economic development, which had been growing without a hitch for nearly 40 years, seemed unstoppable.
But recently, the Chinese economy has also been showing warning signs.
The signal is the Chinese real estate market.
China's real estate market accounts for 30% of China's GDP.
It is the combined size of all related industries, including real estate sales, design, construction, steel and building materials, home appliances, and interior design.
Additionally, real estate accounts for approximately 75% of Chinese household assets.
A slump in China's real estate market means a slowdown in China's domestic market.
--- p.350, 「5-5.
From "The End of China's 40-Year Boom"

If Russia takes away Ukraine's resources, the only place at risk is Western Europe.
In the meantime, they have been jointly developing resources with Ukraine to counter resource powerhouses Russia and China.
If the war disrupts the plans of Western European countries, they will have to rely even more on Russia and China for various resources and energy.
Russia's weaponization of energy and resources could accelerate in the future.
--- p.355, 「5-6.
From “Russia and Ukraine’s Future Energy Resources War”

Automotive digital technology has traditionally focused on optimizing in-vehicle functions.
But in recent years, it has evolved to connect with the outside world and enhance the vehicle's driving capabilities.
These vehicles are capable of self-operation and maintenance.
Additionally, onboard sensors and internet connectivity can be used to maximize consumer convenience and safety.
--- p.355, 「6-3.
From "The Emergence of Smart Cars"

The research uncovered something interesting.
The more tasks utilize large amounts of data, the more AI algorithms can perform the task better than humans.
By industry, AI has been superior to humans in high-productivity industries such as information and communications technology, specialized science and technology, and manufacturing.
On the other hand, it was found that people have the upper hand in jobs that involve meeting and forming relationships with people, such as service industry workers and religious workers.

--- p.394, 「6-6.
With the advent of ChatGPT, will the beginning of the AI ​​era also be the end of the human era?