The Bretton Woods system of international monetary management established the exchange rates between western nations up until 1972 when there was a return to convertibility with the breakdown of the agreement.
Diamonds in the Spam
There are those who turn apoplectic at the receipt of unsolicited commercial email, commonly dubbed spam. These are the same people who receive hundreds of bulk letters addressed to “Occupant” without batting an eye.
How To Protect Yourself In An Economic Crisis
Does the current economic crisis have you worried? Are you wondering how to achieve financial freedom so you can protect yourself and your family from the coming financial crash? Here is what you need to know.
Do the worlds poor children really need a $100 laptop?
The chairman and founder of the Massachusetts Institute of Technology Media Lab recently launched the $100 laptop to the worlds media. Is it necessary?
Workplace Safety and Economics
An informative article about the relationship between workplace safety and economics.
Market Failures And Business Cycles (Part 1)
The following is the most comprehensive ever explanation to the most mysterious phenomenon of Capitalism the Business Cycles. In order to ensure that the article can be read by any well educated reader, I have minimized the economics jargon and have added a short and simple introduction to the structure of the economy. Each and every one of us would be interested to know as to why we cannot have a paradise on earth. Why is it that we are often besieged by such painful downs…
Market Failures And Business Cycles (Part 2)
Continued from Part 1 ….
Something reverse can happen which would be even more damaging than the just discussed case. Instead of Consumption growing at a faster rate than Savings, it might so happen that Savings and Investment grow at a much faster rate than Consumption. For example, prior to Great Depression, the importance of aggregate demand as explained by Keynes was not understood. As a result government policies normally favored huge Investments and were not geared…
Basics of Welfare Economics
Human beings are the building blocks of society. The societies agglomerate to make states. And then the nations are formed. The economy of a nation is the indicator of its prosperity