Category Archives: Economics

[Thought] Price and Labor

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-.

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[Robert L. Heilbroner] The Worldly Philosophers

  • Title: The Worldly Philosophers
  • Author: Robert L. Heilbroner
  • Published: 1953
  • Publisher: Touchstone; New York
  • ISBN-13: 978-0-684-86214-9
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[Study Notes] Macroeconomics – Fiscal & Monetary Policies

The economy is controlled by two policies:

  • Fiscal (by Government): Taxes and Expenditures
  • Monetary (by Central Bank): Money supply and Interest rate

THE FOLLOWING NOTES ARE THE BASIC CONCEPTS IN THE MAINSTREAM (CAPITALISTIC, NEO-CLASSICAL) ECONOMICS.

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[Study Notes] Macroeconomics – Unemployment

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.

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[Thomas Piketty] CAPITAL in the Twenty-First Century

  • 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.

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