The Importance of Supply and Demand – With Examples
Understanding Supply and Demand gives you access to one of the most powerful tools in all of economics. You’ll be able to understand: Foreign exchange (Forex) and currency prices How…
Why Do Some Jobs Pay More Than Others?
In 2019 a fast-food worker made $25,000 per year while a specialized medical doctor made close to 10 times as much, at $250,000 per year. Why do some jobs pay…
How The 2008 Financial Crisis Was Solved
The actions taken are not in chronological order. See this article for a timeline or this one. I was sitting in 10th grade history class when the 2008 Financial Crisis…
The Countries Most and Least Affected by the 2008 Financial Crisis
Of 198 Countries, compared on the percentage change in GDP between 2007 and 2009, the most impacted countries are predominantly Eastern European and trade-dependent advanced economies. The most affected countries…
Immigrants, Entrepreneurship, and Innovation – Explained
The link between immigrants and entrepreneurship is fairly well known, with notable figures such as Sergey Brin (born in the USSR) and Elon Musk (born in South Africa) brought up…
Best Resources for Learning Economics
Note: This page may contain affiliate links, which cost you nothing, but help support the work of this site. If you are interested in diving into the world of economics,…
Culture and Economic Development
A serious consideration of why some countries are economically developed and others aren’t, must include culture. Culture refers to how a nation’s citizens view work, family relationships, the government, other…
Guns, Germs, and Steel vs Why Nations Fail
Two Opposing Views The reason why it is primarily Western Europe and her offspring that are the richest countries in the world today is because of the geographic advantages it…
How Economic Growth Works – Everything You Need To Know
The Power of Economic Growth Just 200 years ago, all countries in the world were equally poor, meaning people the world over had identical living standards and possibilities for their…
Human Capital, Economic Growth, and You
When thinking about why some countries are rich and others are not, it’s natural to start by asking: how is output created in the first place? The obvious answer is…