Capitalism is an economic system that has been around for centuries and is based on buying and selling goods and services for profit. It operates on the laws of supply and demand, with traders selling their goods at the highest possible price while competition keeps prices efficient. Learning about capitalism can help students understand the relationship between capital and labor, as well as the power dynamics that can arise when capitalism gains too much power. Additionally, studying capitalism can help students understand the inequalities of wealth that can arise from it and the need for checks and balances. While there are criticisms of capitalism, it remains a dominant economic system in the world today. By exploring this topic, students can gain a deeper understanding of the economic forces that shape our world and make informed decisions about their own financial futures.

Despite centuries of economic stagnation, Africa possesses latent assets that could lead to economic prosperity. This research identifies three specific assets - meritocracy, scepticism of authority, and cosmopolitanism - that could be the foundation for building inclusive and effective political institutions. We explore the history and culture of Africa to understand how these assets have developed and how they can be leveraged for economic growth.

In "Bad Samaritans," economist Ha-Joon Chang challenges the conventional wisdom of free-market globalization and its champions like Thomas Friedman. Using humor and historical examples, Chang argues that protectionism and government intervention are the true keys to prosperity for today's economic superpowers. He exposes the myths of free-market ideology, including the hypocrisy of patent and copyright protection, and the false assumption that centrally planned economies stifle growth. This provocative and contrarian history of global capitalism will challenge your assumptions and make you think twice about the policies we force on developing nations. Recommended for students of economics, political science, and global studies, as well as anyone interested in the history and politics of globalization and economic justice. This book will appeal to those who question the orthodoxies of free-market capitalism and want to explore alternative models of economic development. It will also be of interest to activists and policymakers concerned with the impact of globalization on developing nations and the role of government in promoting economic growth. Chang's engaging style and irreverent wit make this a thought-provoking and accessible read for anyone seeking a deeper understanding of the complex issues surrounding global capitalism.

Are you curious about how the world's economy has shifted over the past two centuries? Richard Baldwin's 'The Great Convergence' offers a fresh perspective on globalization and its impact on the world's income distribution. Baldwin explains how the industrial revolution and information technology have driven the Great Divergence and the Great Convergence, respectively. This insightful book explores the challenges that nations face in maintaining growth and social cohesion in our rapidly changing global economy. Discover how technological advancements have transformed the way we think about globalization and its impact on our world today." Recommended for economics students, policymakers, and anyone interested in understanding the changing landscape of the global economy. This book is particularly relevant for those interested in the impact of technology on globalization and its effects on income distribution. The author's analysis of the Great Divergence and the Great Convergence offers a unique perspective on the history and future of globalization. This book is also relevant for those interested in the challenges that nations face in maintaining growth and social cohesion in our rapidly changing world.

European Union (EU), European Community (EC) and the Eurozone are complex political and economic concepts that are closely intertwined and often used interchangeably. However, they are not exactly the same thing. Understanding the differences between these three concepts is crucial for anyone interested in the study of European politics and economics. The European Community was established in 1957 with the signing of the Treaty of Rome. It was created to promote economic cooperation between European countries and to help create a common market. The European Community consisted of three main institutions: the European Commission, the Council of the European Union, and the European Parliament. In 1993, the Maastricht Treaty transformed the European Community into the European Union. The EU expanded the scope of cooperation between European countries, now covering a wider range of policy areas such as justice, foreign policy, and defense. The EU has 27 member countries and operates through the same three institutions as the European Community. The Eurozone, on the other hand, is a monetary union within the EU that consists of 19 countries that have adopted the euro as their currency. The purpose of the Eurozone is to promote economic integration and stability in Europe through the use of a common currency. Leading academics in the field, such as John Peterson and Andrew Moravcsik, have made significant contributions to our understanding of the EU, EC and the Eurozone. Peterson's work focuses on the development of the EU's institutional structure and its impact on member states, while Moravcsik's research examines the EU's decision-making processes and its role in global governance. So, what makes these three concepts different from each other? The European Community was established to promote economic cooperation, the EU expanded the scope of cooperation to cover a wider range of policy areas, and the Eurozone is a monetary union within the EU that uses a common currency. By understanding the differences between the EU, EC, and Eurozone, students can gain valuable insights into the workings of the European Union and the impact it has on its member states.

Technology has been a driving force in shaping our world and shaping the future. With the advancement of technology, come new challenges and opportunities. One such challenge is the taxation of technology. Did you know that technology companies are among the largest tax evaders in the world? According to a study by the European Commission, the top 30 tech companies in the EU pay an effective tax rate of just 9.5%, compared to the average 23.2% for other companies. This raises questions about the fairness and sustainability of our tax systems in the digital age. Leading academics in the field, such as Gabriel Zucman and Matthew Kirshner, have proposed solutions such as a global minimum tax rate for multinational companies and a tax on digital revenues. They argue that such measures are necessary to ensure that technology companies pay their fair share and to fund public goods, such as education and infrastructure, that are essential for technological progress. But what are the potential consequences of such measures? Some experts, such as Alex Cobham, warn that a global minimum tax rate could lead to a race to the bottom, as countries compete to lower their tax rates to attract investment. Others, such as Dhammika Dharmapala, argue that a tax on digital revenues could hurt innovation and stifle competition. As young academics, it is important to explore these issues and to think critically about the role of technology and taxes in shaping our future. By exploring these themes and developing your critical thinking skills, you can become informed citizens and active participants in shaping the future of technology and taxes.

Cartels, a combination of two or more companies working together to control prices and restrict competition, have been a hot topic in the economic and political world for centuries. From De Beers, the infamous diamond cartel, to OPEC, the global oil cartel, these organizations have a profound impact on the world's economy and politics. Some cartels, such as De Beers, have been able to maintain their control for decades, while others, like the American sugar cartel in the early 20th century, have been dissolved for violating antitrust laws. So, what makes a cartel legal or illegal? Economist Joseph Stiglitz explains that legal cartels are those that operate within a framework of laws and regulations, while illegal cartels engage in anti-competitive behavior, such as price fixing or market division. Legal cartels, like De Beers, have the potential to increase efficiency and innovation in the market. Illegal cartels, on the other hand, can lead to increased prices for consumers and a decline in market competition. The factors that determine the legality of a cartel also include government intervention, consumer protection, and market conditions. For example, OPEC, while considered a legal cartel, operates within strict regulations set by the governments of its member countries. It's important to understand the impact that cartels have on the global economy and politics. By exploring the complexities and nuances of legal and illegal cartels, you'll take a step further in gaining a deeper understanding of economics and political systems.

Neoliberalism is a term we often hear thrown around, but do you really understand what it means? At its core, neoliberalism is an economic philosophy that emphasizes the importance of individual liberty and the freedom of markets. It argues that markets can produce their own philosophy, and therefore we should look at the world through the eyes of the market. While some see neoliberalism as a way to deliver public services through privatisation over state control, others argue that it leads to uncontrolled globalisation that puts corporations above nations. Understanding neoliberalism can help you develop critical thinking skills and a deeper understanding of the way state and market interact with our aspirations. By exploring this concept, you'll be better equipped to navigate the world and make informed decisions that affect your life.

Nobel Prize-winning economist Joseph E. Stiglitz's best-selling book "The Price of Inequality" is a powerful indictment of America's growing inequality and its corrosive effects on our economy, democracy, and system of justice. Stiglitz argues that politics, not just market forces, have shaped this vicious circle of inequality, and he exposes the efforts of well-heeled interests to compound their wealth at the expense of true, dynamic capitalism. With characteristic insight, Stiglitz offers a vision for a more just and prosperous future, supported by a concrete program to achieve that vision. Recommended for students of economics, political science, and sociology, as well as anyone concerned about the growing inequality and lack of opportunity in America. This book is particularly relevant to those interested in the role of politics in shaping market forces, the effects of inequality on our economy and democracy, and the need for concrete policy solutions to address these issues. It may also be of interest to activists and advocates working towards greater economic and social justice.

How did the Winnebago tribe of Nebraska turn their extreme poverty into prosperity through self-determination? Learn how their success story is inspiring Harvard's Project on Indigenous Governance and Development.

In "The Curse of Cash," Kenneth Rogoff, a world-renowned economist, presents a radical idea: getting rid of most paper money to fight crime, tax evasion, and financial crises. With a record $1.4 trillion in US dollars alone, paper money is feeding a massive underground economy, crippling monetary policy, and making us poorer and less safe. Rogoff offers a plan to phase out most paper money, leaving small-denomination bills and coins in circulation, and addresses the issues the transition will pose. This thought-provoking book is a must-read for anyone interested in economics, finance, politics, and social justice. Recommended for students of economics, finance, and political science, as well as professionals in banking, law enforcement, and policy-making, "The Curse of Cash" sheds light on the hidden costs and dangers of paper money and proposes a bold solution to some of the world's biggest problems. By exploring the links between cash, crime, corruption, terrorism, and economic inequality, Rogoff challenges us to rethink our assumptions about money and value, and to consider the implications of a cashless society for privacy, security, and social welfare. This book is also relevant to anyone interested in global affairs, technology, and the future of money.

Enter the mind of Adam Smith, the father of modern economics, and explore his magnum opus, 'The Wealth of Nations'. This classic work, considered the first modern work of economics, delves into the nature and causes of wealth in society. Smith's insights on political economy and moral philosophy continue to shape economic thought today. With an unabridged and illustrated eBook report, readers can navigate through Smith's complex ideas with ease. Discover the antidote to superstition and enthusiasm with 'The Wealth of Nations'." Recommended for students of economics, political science, and philosophy, as well as anyone interested in the history of economic thought. This book provides a foundational understanding of modern economics and the role of government in shaping economic policy. Additionally, those interested in the intersection of morality and economics will find Smith's insights on the subject thought-provoking. The book is also valuable for professionals in the fields of finance and business, as it offers a historical perspective on the evolution of economic systems. Overall, 'The Wealth of Nations' is a must-read for anyone seeking to deepen their understanding of economics and its impact on society.

Contrary to popular belief, small businesses can benefit from minimum wage increases. A new study from UC Berkeley shows that higher wages lead to less turnover, increased productivity, and better recruitment. The study challenges the conventional wisdom that small businesses suffer more from higher labor costs and are more likely to cut jobs. The findings have significant implications for public policy and reduce poverty and financial insecurity.

In "The New Geography of Jobs," economist Enrico Moretti explores the tectonic shifts that are reshaping America's labor market and communities. Moretti uncovers the three Americas: brain hubs, declining manufacturing cities, and those in the middle that could go either way. Contrary to popular belief, you don't have to be a scientist or engineer to thrive in one of these brain hubs. For every new innovation job, five additional non-innovation jobs are created, and those workers earn higher salaries than their counterparts in other cities. Moretti's groundbreaking research shows the winners and losers aren't necessarily who you'd expect. Recommended for students interested in economics, geography, and social policy, "The New Geography of Jobs" provides a fresh perspective on the tectonic shifts that are reshaping America's labor market and communities. The book highlights the growing differences between people and communities and the challenges that arise from these disparities. It shows that you don't have to be a scientist or engineer to thrive in one of these brain hubs. This book is relevant to anyone interested in understanding the social challenges arising from globalization, income inequality, immigration, and technological progress.

Money or social relationships: What really brings happiness? While money can increase satisfaction, its impact depends on the context. Recent research shows that pro-social spending, like spending money on others, can lead to greater happiness. But social relationships are even more important, providing a more stable foundation for well-being. Understanding the context in which happiness is considered and how it shapes our values is key to understanding what truly brings us happiness.

As a high school student, you may have heard of the term "trickle-down economics." This concept was introduced in the 1980s, when President Ronald Reagan's administration implemented policies to stimulate the US economy. The key academic concepts here are tax cuts and their impact on the government's revenue, the economy, and people's lives. By understanding these concepts, you can learn how economic policies affect society, and how to analyze them critically. Moreover, by exploring this topic, you can develop your research and writing skills, and engage with current events that may impact your future. While there is no clear answer as to whether trickle-down economics is an effective policy, exploring this topic can provide valuable insights into economic theory and current political discourse. So why not explore this fascinating topic further and discover new perspectives on economic growth?

Efficiency and equality are two fundamental concepts in social and economic policy that often come into conflict. Efficiency is the ability to produce goods or services with minimum waste, while equality refers to the fair distribution of resources among individuals. The trade-off between these two concepts is a persistent issue in the contemporary world, and it has important implications for social justice, economic growth, and political stability. In recent decades, the pursuit of efficiency has become a dominant theme in public policy, as governments and organizations seek to optimize their operations to achieve greater productivity, profitability, and innovation. However, this drive towards efficiency has also contributed to rising inequality, as the benefits of technological progress and globalization have disproportionately flowed to the top earners, while many low-skilled workers have faced declining wages, job insecurity, and social exclusion. This tension between efficiency and equality is not a new phenomenon. In the 19th century, the economist Vilfredo Pareto observed that economic progress often involved a redistribution of wealth from the poor to the rich, which he dubbed the "law of the vital few." Similarly, the philosopher John Rawls argued that a just society should prioritize the well-being of the least advantaged members, rather than maximizing aggregate welfare. The debate over the optimal balance between efficiency and equality has given rise to various schools of thought and policy proposals. Some proponents of efficiency argue that it is necessary to stimulate growth and innovation, which can eventually benefit everyone. Others advocate for a more redistributive approach, such as progressive taxation, social welfare programs, or universal basic income, to reduce inequality and ensure that the benefits of economic growth are shared more equitably. The trade-off between efficiency and equality is a complex and ongoing challenge for policymakers and citizens alike, but striking a good balance is one of the crucial factors of good policy-making.

Robert Frank's "The High-Beta Rich" exposes the untold story of the high-beta rich and their impact on the American economy. With vivid storytelling, Frank takes readers inside the mortgaged mansions, blown-up balance sheets, and repossessed Bentleys and Gulfstreams. The book highlights how the top 1% of the population, who control more than a third of the country's wealth, are becoming an increasingly unstable force in the economy, wreaking havoc on communities, employment opportunities, and government finances. This engrossing read is a must for anyone interested in understanding the national consequences of high-beta wealth. Recommended for economics and business students, policymakers, and anyone interested in understanding the impact of wealth inequality on the economy and society. The book's insights into the volatile nature of high-beta wealth and its consequences for communities, employment opportunities, and government finances make it an important read for those concerned with economic stability and social justice. The book's vivid storytelling and analysis of the lives of the high-beta rich also make it an entertaining read for anyone interested in the lifestyles of the wealthy.

Can a country's culture influence its entrepreneurship rates? A recent study shows that second-generation immigrants from countries with a strong culture of entrepreneurship are more likely to start their own businesses. Discover the underlying mechanisms and implications for national economic performance.

In "The End of Alchemy," former Bank of England governor Mervyn King offers a unique perspective on the history and future of money and banking. King reveals how the creation of paper money and banks issuing credit were revolutionary and almost magical ideas that have fueled economic growth for two centuries. However, they have also produced an unending string of economic disasters. King offers bold solutions to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors. This book is a must-read for anyone interested in the mechanisms of our capitalist society. Recommended for economics students, financial professionals, and anyone interested in the history and future of money and banking. This book offers a unique perspective on how the creation of paper money and banks issuing credit have fueled economic growth for two centuries, but also produced economic disasters. King's bold solutions provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors. This book is also relevant to those interested in the broader implications of capitalism and its mechanisms on society.