The author was born and brought up in a Communist country and emigrated as an adult to the West , where he worked as an economic advisor in government, and was then active as a successful private entrepreneur, investment fund manager, and economic and financial advisor to many different sized companies operating in different fields of business activity. In the book the author explains in a simple and easily understandable way how the Economy works and is influenced by major economic players on an imaginary island, the economic tools they operate with, the systems of governance they use and how they cover up their failures. He vividly shares his lifelong experiences, spiced with humor and even sarcasm but, without compromising his professional explanations of today’s major world economic problems. The basic aim of this book is to explain two dimensions of economics. The first concerns the separate worlds of Money and Product, as they circulate continuously in opposite directions. The second concerns the dilemma of how to cope with the problem presented in the metaphor Economics is the science of a short blanket in a cold room: if you cover your feet your shoulders will be cold and if you cover your shoulders your feet will be cold . To make the book accessible to all, it is purposely written without use of any math, graphs, tables or academic footnotes. Though written with the lay reader in mind, it is an argumentative book, and contains original thoughts about economics and government functionality.