In our everyday lives, we want many different goods, which we need as necessities, for satisfaction, or even just for showing off.
We may want many things, but we have only limited resources – money – to exchange with goods. It is the heart of modern Economics – scarcity and decision making-.
Continue reading “[Thought] Price and Labor”
Title: Debt: The First 5,000 Years
Author: David Graeber Published: 2011 Publisher: Melville House; Revised edition (2014) ISBN-10: 978-1612194196 Continue reading “[David Graeber] Debt: The First 5,000 Years”
The economy is controlled by two policies:
(by Government): Taxes and Expenditures Fiscal (by Central Bank): Money supply and Interest rate Monetary
THE FOLLOWING NOTES ARE THE BASIC CONCEPTS IN THE MAINSTREAM (CAPITALISTIC, NEO-CLASSICAL) ECONOMICS. Continue reading “[Study Notes] Macroeconomics – Fiscal & Monetary Policies”
Unemployment is one of the widely used barometers to check the current economic status. Therefore it is natural that unemployment is the main topic of macroeconomics.
THE FOLLOWING NOTES ARE THE BASIC CONCEPTS IN THE MAINSTREAM (CAPITALISTIC, NEO-CLASSICAL) ECONOMICS. Continue reading “[Study Notes] Macroeconomics – Unemployment”
Title: CAPITAL in the Twenty-First Century Author: Thomas Piketty Published: 2013 Publisher: The Belknap Press of Harvard University Press, Cambridge, Massachusetts Translated: Arthur Goldhammer (2014) ISDN-13: 978-0-674-43000-6
Piketty’s “CAPITAL in the Twenty-First Century” aims that there is a scientific approach to determine what (economic) factors cause inequality of wealth. Piketty relies on statistical and historical data to back up his hypothesis.
Continue reading “[Thomas Piketty] CAPITAL in the Twenty-First Century”