How Immigrants Escape Poverty in America
Having arrived in America at the age of four as the child of immigrants, I’ve been able to observe the adjustment to American life of hundreds of immigrants just like…
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…
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…
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…
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…
How Does a Country Become Rich?
The Wealth of Nations, by Scottish philosopher Adam Smith, is the most significant work in economic history, earning Smith the title “Father of Economics”. Even to this day, Smith's ideas…
Why Are Some Countries Poor and Others Rich?
Why are some countries so poor, while others continue to grow richer and richer? This question is fascinating and important, both to economists and to the ordinary person trying to…