I believe that the most effective way to understand economics is to learn and follow the opinions of various economists in a fun way.
In this process, we naturally build a foundational understanding of economics, understand why these phenomena and claims emerge, and understand the ultimate impact economists' theories have had on our society.
What is remarkable is that great economists predicted inflation in their books before the term "inflation" even existed, and stagflation before we experienced it.
Not only were the 2001 dot-com bubble and the 2008 financial crisis predicted, but the global spotlight today on ESG and the human crisis caused by climate change were also introduced by economists over 100 years ago, and their own solutions were even proposed.
Isn't it amazing? This is how we can know the future through the past.
And the easiest way to predict the future is to stand on the shoulders of giants and read the great economic classics they wrote.
---"introduction.
From “The history of money repeats itself (page 6)”

Since Keynes, economics has become more difficult and mathematical.
The economy has a profound impact on the lives of ordinary people, and given that then-presidential candidate Bill Clinton famously remarked in 1992, “It’s the economy, stupid!”, it’s a shame that economics has become an increasingly inaccessible discipline for non-economists.
Despite its lack of academic expertise and logical soundness, Freakonomics's immense success as a storytelling tool for ordinary people demonstrates the public's hunger for easy and clear economic explanations of the real world.
This is a golden opportunity and a heavy responsibility for economists who want to change the world for a better place.
---From "Steven Levitt and Stephen Dubner, Freakonomics: The Challenges of Economics Disengaging from the Public (pp. 108-109)"

Is investing a gamble where the outcome is unpredictable? According to Malkiel, yes.
But we can look far ahead with enough confidence, not just an inch ahead.
Short-term stock price movements are difficult to predict, but a comprehensive look at the data shows that the overall market shows a steady, gradual upward trend.
And this is the surefire way to success that Malkiel talks about.
It is difficult to predict the short term and the direction of a single company, but the long-term trend of the entire market is upward, so the idea is to ride this wave.
---From "Burton Malkiel, 'Random Walk Investment Class': A Winning Investment Strategy for Ordinary Investors (pp. 176-177)"

In the 1970s, when the U.S. stock market rose only 47% over a 10-year period, Soros' Quantum Fund recorded a return of 4,200%.
His fund, which started with $4 million in 1970, generated over $32 billion in profits by 2010.
(…) Soros emphasizes that the market is neither efficient nor stable, citing the formation and collapse of various bubbles throughout history as evidence.
Market fluctuations and crashes are not abnormal phenomena, but rather natural and expected.
He does not analyze the intrinsic characteristics of a company, commonly referred to as "fundamentals."
In his view, there is no inherent value, everything is relative.
This is because when the intrinsic characteristics are analyzed and the stock price moves according to that judgment, the company's circumstances are also affected by the stock price and change.
Therefore, he thoroughly understands the investment targets and market players, predicts their behavioral inducements and psychology, and then bets on either an upward or downward trend.
---From "George Soros, 'The Alchemy of Finance': The Financial Market as Seen by the World's Most Successful Investor (p. 185)"

Minsky and his book first gained attention in 1998, during the height of the Russian financial crisis.
Paul McCauley, a fund manager at Pimco, one of the world's largest bond management firms, took notice of Minsky's theory.
During the economic crisis at the time, asset prices across the market plummeted, leading to a more severe recession.
Macaulay felt that this situation was very similar to Minsky's theory and called it the 'Minsky Moment'.
Minsky and his book briefly gained attention in the late 1990s, but then returned to prominence during the economic golden age of the early 21st century, only to be forgotten.
And humanity had to pay the price for that forgetfulness again.
(…) In 2007, as concerns about the onset of an economic crisis and the realization that real estate mortgages were becoming toxic, business publications such as the Wall Street Journal and the Financial Times began to talk about Minsky.
And in March 2008, when Bear Stearns, the fifth-largest investment bank on Wall Street, was acquired by JPMorgan due to distressed assets, Minsky finally received a reevaluation.
---From Hyman Minsky, Stabilizing the Unstable Economy: Predicting the 2008 Financial Crisis (pp. 216-217)

After analyzing data from the 18th century to the present, Piketty discovers shocking results.
Except for the Great Depression and wartime periods, the rate of return on capital has consistently outpaced economic growth.
The fact that capital is growing faster than the overall national income means that the rich are getting richer and the poor are getting poorer, meaning that the wealth of those who already have capital is growing much faster.
(…) Piketty says that a ‘global capital tax’ is absolutely necessary and will definitely be introduced.
The reason he believes this is simple.
Marx predicted that when the gap between rich and poor exceeds its limit, a revolution will occur and the system will be overthrown.
And if wealth inequality continues to worsen as it is now, it is clear that it will ultimately lead to great social unrest.
In this situation, the world will have no choice but to adopt a global capital tax because it is a better alternative than revolution and the loss of democracy.

---From Thomas Piketty, Capital in the Twenty-First Century: A Study of Wealth Distribution, a Perennial Debate (pp. 234-236)