Economy

Vibrant Madrid and the bustling coastal resorts hide a grim reality. Many areas of the interior are dying. Why is this happening and what can be done?

Is there a problem with how markets work?

Just like any other big company, Walmart has had its share of legal issues and criticism from the public. Walmart is accused of underpaying its employees, and some of them have even lodged complaints about international trade disputes.

Philosopher Bertrand Russell argued in 1935 that humanity would be happier if work was redistributed and a work-life balance with more leisure time would result in a better society.

Micro-finance agencies in the U.S. do not achieve the same results that they do in less capitalist countries—and there is a reason for that. In reflecting back on the successful micro-loan agency I helped set up in Grenada in the West Indies, the key differences from the U.S. became clear.

As COVID-19 spreads throughout the world, the Kenyan economy has been hit hard by the challenges of dealing with the virus. Let's explore the full economic effects.

Economic development is usually measured by the total value of goods and services produced in an economy. The environment is the source of goods and services that fuel economic growth. Therefore, an increase in economic growth indicates an increase in natural resource utilization of the environment.

There is a way for the U.S. to avoid the economic and social chaos that is unfolding before us. This article explores how the Corona National Survival Plan can save us from economic ruin.

A country's employment rate is one of the most important factors that both indicates its economic welfare and has a great impact on its economic development. This article examines this complicated issue by presenting the top 10 countries with the highest employment rate.

Most of the positive economic factors that Donald Trump brags about actually occurred during the Obama presidency, years before Trump became president.

Fossil fuels—coal, oil, and natural gas—are currently the world's primary energy source. These non-renewable resources have fueled the global economy for centuries. However, they are finite resources, and a future without them is a very real prospect.

Which countries are the most hardworking in the world? Here's what you need to know.

Coronavirus is not the first sickness to be flashing in headlines of world media, and not the first to impact the world economy. And unfortunately, it won't be the last.

On a planet with finite resources, the economy cannot keep growing forever.

The world’s economy is evolving. From an economy that worked on exchanging physical goods for currencies and valuables, we’re now moving towards a digital economy, where services and goods are bought and sold over the internet.

This article describes how the downturn of the Gross Domestic Product (GDP), the trade deficit, and the labor force participation rate can contribute to a recession and how an inverted bond yield curve can indicate a recession is forthcoming.

The discovery of natural resources, particularly of oil and gas, poses both significant positive prospects as well as negative opportunities.

Rapidly developing artificial intelligence and robotic technologies have started to impact human jobs, a trend that will accelerate as these technologies become more sophisticated and refined. We face a future with massive unemployment due to artificial intelligence and robots taking over jobs.

This article illustrates the difference between the unemployment rate and the Labor Force Participation Rate (LFPR) and why LFPR gives a more realistic view of our job market than the unemployment rate.

Economist Arthur Laffer is famous for his Laffer Curve which illustrates the fact that, at a certain point, increases in taxes result in a decrease in tax revenue. While considered a radical new theory by many, this theory was first advanced 600 years ago by the Arab scholar Ibn Khaldun.

Many Americans believe that their jobs are being taken by immigrants and other countries. Is this true? The fact is, jobs aren't being "taken." They're being willingly handed over.

China's economic relationship with Africa is coming under increased scrutiny, as some now view it as predatory in nature, rather than working to boost economic growth in the region. This article looks at both sides of the issue.

If he didn't coin the word, he certainly brought it to its current use, Jordan Belfort used ratholes to trade stocks in fraudulent companies he made deals with, undetected, for a while at least.

With the politicization of absolutely everything in life, we have forgotten that civil discourse and ethics of leadership really do set the tone for all of society.

A look at the shrinking middle class and what may be causing its demise.

The market of counterfeit or fake products seems to be on a rise. In 2013, the industry was estimated to have been as large as half a trillion-dollar industry.

The company OLA cabs was born in India in 2010, Uber was incubated in the US in 2009 but made its Indian entry in 2013, and the rest is a cab-aggregating history.

Capitalism knows no bounds. We are now living in a world where globalist practices mean less freedom and less upward mobility.

Protectionism is the practice of limiting outside competition by applying tariffs, quotas, and subsidies. Usually, the purpose is to guard domestic industries and jobs. Here are the pros and cons.

Why is it so difficult for Americans to save money? Stagnant wages, high and rising cost of living, and a culture that encourages spending as a way of driving the economy.

Acknowledging the time value of money empowers people to make better financial decisions and become better savers and investors.

When was the last time you used a penny? Pennies are relics of an age when American coins were more important. Now they are just bothersome novelties that have no real use and should be discontinued. Here's why.

Everybody knows a ton of lawyer jokes, none of them flattering, but economists get their legs pulled a lot as well—and often by members of their own profession.

The United States federal government loves to spend taxpayer money, resulting in a large and growing national debt. Where does all the money come from and where does it go? What is the difference between debt and deficit? Is this large national debt not important, or should we worry?

Capitalism's excesses are becoming too much for the world to bear. Three seminal events in this century highlighted this fact: the 2008 crash, Occupy in 2012, and Bernie Sanders' rise. Those are not three separate events, but a cascading evolution to something new and more sustainable.

Today is vastly impacted by all the yesterdays. European imperialism shaped Africa into what it is today socially, politically, economically, and even geographically.

Fighting corruption among world leaders, fostering skill programs and scholarships, and properly funding higher education are some of the best ways to combat youth unemployment across the globe.

Since the beginning of the transitioning process in the 1980s, China has become a world power. This article explores the transition process in China and its main characteristics, accomplishments, and consequences.

Let's take a look at Nike as a case study of globalization and explore the social and economic impacts of industrial development by TNCs.

Has Cuban socialism benefited its people? This summarizes the pros and cons of socialism in Cuba and asks what the Cuban revolution has achieved.

Gross domestic product (GDP) is an intricate calculation of many figures. GDP is mostly used to understand a country's economic power and development, but also to compare nations.

This article deals with quantitative restrictions and measures equivalent to quantitative restrictions (MEQR) in the European Union's concept of Free Movement of Goods.

This article will attempt to explain the general workings of America's fiat economy, concentrating on monetary accounting. These explanations follow the principles of Modern Monetary Theory.

Capitalism and socialism: These systems are two very different paths for society to follow, and both have strong supporters and opponents.

The cornerstone of our monetary system is based on fractional banking. This, along with the Federal Reserve, plays an important role in the value of our money, the dollar.

Tourism can be a great way for places to generate income and jobs... but despite its benefits, it can also have downsides. Here is a list of the pros and cons of tourism.

In 2008 and 2009, the Iceland economy suffered a collapse brought on by a lapse in overseeing mortgages and failing banks. Icelandic banks offered CD rates to English customers that were very inviting.

This list of the pros and cons of globalization attempts to give a summary of the essential for and against arguments employed by people when they debate the merits of globalization.

A federal mandated minimum wage could put small companies out of business. That's because low-wage workers need to generate enough revenue to pay their salary. Learn more in this article.

Could ancient Egypt teach us about sustainability? Let's explore the difference between ancient Egypt's paradigm of cyclic stability and our current paradigm of continuous growth.