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.

Uncover the sinister world of diamond smuggling and its devastating impact on the people of Sierra Leone in Greg Campbell's Blood Diamonds. Follow the trail of these "blood diamonds" from West Africa to the hands of unsuspecting consumers worldwide, revealing the complicity of the international diamond industry. Through his award-winning journalism, Campbell exposes the brutal realities of the rebel war and the policies that have allowed this tragedy to occur. This gripping tale is a must-read for anyone interested in global issues, international trade, and human rights abuses." Recommended for those interested in international relations, economics, and social justice, Blood Diamonds sheds light on the dark and dangerous world of diamond smuggling. Greg Campbell's investigation into this global issue reveals the complicity of the international diamond industry and the devastating impact on the people of Sierra Leone. This book is particularly relevant for students of international trade, human rights, and conflict resolution, as well as professionals in the diamond industry and those interested in social justice causes. The updated epilogue provides valuable insights into the ongoing repercussions of this tragedy.

Indonesia's switch to digital debit cards for food aid instead of rice bags has led to 81% of poor residents receiving the full amount intended for them, reducing overall poverty rates by 20%. A randomized controlled study led by MIT economists reveals the impact of this change and highlights the advantages of doing rigorous evaluations of antipoverty programs. Learn more about this remarkable story of researchers and governments working together to build a better system for food aid.

Economics is the scientific investigation of how human societies utilize limited resources to satisfy their desires and demands. It offers a comprehensive view of how people, corporations, and authorities determine the most efficient methods of generating, exchanging, and consuming products and services to achieve their objectives. One of the most interesting aspects of Economics is the way it applies to real-world scenarios. For example, how the price of a particular good affects consumer behavior, or how international trade agreements can impact economies on a global scale. This makes it a relevant and meaningful subject to study. The field of Economics is constantly evolving, with new research and innovations being produced all the time. For example, the recent Nobel Prize-winning work of Esther Duflo and Abhijit Banerjee in the area of development economics, which looks at ways to alleviate poverty and improve the lives of people in developing countries. The work of Paul Krugman in international trade and Joseph Stiglitz in information economics are also important contributions to the field. At the undergraduate level, typical majors in Economics include microeconomics, macroeconomics, econometrics, and international economics. These modules provide students with a foundation in economic theory, statistical analysis, and problem-solving. From there, students can specialize in areas such as financial economics, environmental economics, or public policy. A degree in Economics can lead to a wide range of careers in various industries. Some examples of potential jobs include financial analyst, market research analyst, economist, data analyst, and policy analyst. Notable employers in this field include the World Bank, International Monetary Fund, and Federal Reserve. Additionally, many private companies such as Amazon and Google hire economists to help with business strategy and analysis. To succeed in Economics, it is helpful to have strong analytical and problem-solving skills, as well as an interest in current events and trends. Students who enjoy math and data analysis will also find this subject rewarding.

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.

Jaron Lanier, the father of virtual reality, presents a daringly original critique of our digital networks in his book, "Who Owns the Future?". He argues that the concentration of money and power in these networks has led to the recession, endangered privacy, and hollowed out the middle class. Lanier predicts how technology will transform our humanity and offers a path towards a brighter future, proposing an information economy that rewards ordinary people for what they do and share on the web. This provocative and deeply humane book is a must-read for anyone interested in the intersection of technology, economics, and society. Recommended for students of economics, computer science, sociology, and political science, as well as professionals in the tech industry and policymakers interested in the impact of technology on society. The book's exploration of the concentration of money and power in digital networks and its effects on the economy, privacy, and the middle class is relevant to anyone concerned with the future of work and the role of technology in shaping society. Furthermore, Lanier's proposal for an information economy that values the contributions of ordinary people offers a refreshing alternative to the current state of affairs.

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.

Discover the hidden world of Glasgow's "Sugar Aristocracy" and the Scottish connection to Caribbean slavery, 1775-1838, in a new book-length study by (Author). Explore the influence of metropole and colony in this innovative analysis, using a broad range of sources to illuminate the business practices and financial dealings of West India merchants and planters.

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.

Are you fascinated by the world of finance and the workings of the global economy? Do you have a keen eye for detail and an analytical mind? If so, then studying Economic Research at university could be the perfect choice for you. Economic Research is a dynamic and exciting field of study that delves into the intricacies of the global economy. It combines the principles of economics and statistics to analyze and understand economic phenomena, such as market trends, consumer behavior, and government policies. One of the most interesting aspects of Economic Research is the ability to apply your knowledge to real-life situations. For example, you could analyze the impact of a new tax policy on the economy or predict the effects of a natural disaster on a particular industry. Your research could help businesses and governments make informed decisions that have a real impact on people's lives. There are many renowned academic figures in the field of Economic Research, such as Paul Krugman, Joseph Stiglitz, and Esther Duflo, who have made significant contributions to the field. Their innovative research and academic discourse have helped shape our understanding of the global economy. At undergraduate level, you can expect to study a range of modules, including microeconomics, macroeconomics, econometrics, and financial economics. You may also have the opportunity to specialize in areas such as behavioral economics, international finance, or development economics. The skills and knowledge you gain from studying Economic Research can open up a wide range of career opportunities. You could work in finance, consulting, or government, among other industries. Notable potential employers include the World Bank, the International Monetary Fund, and Goldman Sachs. To succeed in Economic Research, you will need to have strong analytical skills, attention to detail, and a passion for economics. You should also be comfortable working with data and have excellent communication skills to present your findings effectively. In conclusion, studying Economic Research is a fascinating and rewarding choice for anyone interested in the global economy and its impact on society. With a range of potential career paths and the opportunity to make a real difference, it's a field of study that is both challenging and fulfilling.

Discover how a bankrupt Venetian merchant's risky trade for pepper led to a gateway of riches, and how spices became the marquee good of medieval high society.

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.

The Imperial College Business School conducted a study that reveals the wealth gap in the US has grown faster than in Europe, and the primary cause of this phenomenon is the significant increases in stock market prices. The research aims to explore the reasons behind the growing wealth inequality in the US and identify the necessary actions to address it.

Are you interested in understanding how people make decisions and why they sometimes act irrationally? Game theory and the study of irrational behavior can help answer these questions! Game theory is a branch of mathematics that studies decision making in strategic situations, where the outcome depends on the actions of multiple players. Nobel Prize winner John Nash's famous Nash Equilibrium is a concept that is widely used in game theory to explain how rational players should make decisions in a game where the outcome depends on the choices of multiple players. The Nash equilibrium is the point where neither player can improve their outcome by changing their strategy, given the other player's strategy. But what about when players don't act rationally? Behavioral economists like Daniel Kahneman and Richard Thaler have shown that people often make decisions based on emotions and biases, rather than rational thinking. This is known as irrational behavior. For example, in the Ultimatum Game, two players are given a sum of money to divide between them. The first player makes a proposal of how to split the money, and the second player can accept or reject the proposal. If the second player rejects the proposal, neither player gets any money. According to game theory, the first player should offer the minimum amount possible, and the second player should accept it. However, studies have shown that the first player often offers a more equitable split, and the second player often rejects an offer that they perceive as too low. Another example of irrational behavior is the sunk cost fallacy, where people continue to invest in a losing venture because they've already invested so much. This is a common phenomenon in the stock market, where investors hold onto losing stocks because they don't want to admit they made a mistake. So why is this important for us to study? By understanding game theory and irrational behavior, we can gain insight into how people make decisions and how to make better decisions ourselves. It can also help us to understand why people make decisions that seem illogical or irrational, and how to influence or predict their behavior.

Discover the fascinating history of money, from seashells to government debt, and explore the rise of Bitcoin as the digital age's newest solution to the problem of money. Economist Saifedean Ammous argues that Bitcoin's true importance may lie in providing a decentralized, neutral, free-market alternative to national central banks. Dive into this thought-provoking analysis of sound money, economic growth, and international peace, and learn how Bitcoin could shape the future of our monetary system. Recommended for economics students, investors, and anyone interested in the history and future of money. This book offers a comprehensive analysis of the mechanics of Bitcoin and its potential to challenge the global monetary order. The author's exploration of sound money and its benefits to economic growth, innovation, and individual freedom make this book relevant to a wide range of fields of study and professions. Additionally, the book's focus on Bitcoin as a store of value and network for settlement between large financial institutions may be of particular interest to those in the finance industry.

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.

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.

Africa has a rich history and culture, but its past is marked by a legacy of colonialism that has had long-lasting effects on its economic and political development. Colonialism is the practice of one country or nation taking control of another country or territory for its own benefit. In Africa, this often involved European powers exerting their influence and control over the continent and its people. The long-term effects of colonialism on Africa's economic development and governance are still being felt today. One of the ways that colonialism impacted economic development in Africa was through the exploitation of natural resources. European powers took advantage of the continent's vast resources, including minerals, timber, and agricultural products, often without properly compensating the local people. This led to the development of an extractive economy that was heavily reliant on exports of raw materials, rather than developing local industries that could add value and create jobs. This legacy of extractive economies has made it challenging for many African countries to diversify and grow their economies. In terms of governance, colonialism also had a significant impact on the political systems and institutions that exist in many African countries today. European powers often imposed their own political systems and values on the continent, disregarding local customs and traditions. This has led to the creation of artificial borders, ethnic and tribal tensions, and a legacy of authoritarian rule that is difficult to overcome. In many cases, African countries have struggled to establish stable and effective governance systems that can provide for their citizens and ensure their well-being. One of the key academic concepts related to the long-term effects of colonialism in Africa is the idea of "neocolonialism." This refers to the continued influence of former colonial powers on African economies and politics, even after independence. For example, many African countries are still reliant on foreign aid and loans from former colonial powers, which can come with strings attached that limit their sovereignty and ability to make decisions that are in the best interests of their citizens. Leading academics in the field of colonialism and its effects on Africa include scholars like Walter Rodney, Frantz Fanon, and Achille Mbembe. These thinkers have written extensively on the subject, providing insights into the historical and contemporary issues that continue to shape the continent. By delving deeper into the complex issues surrounding the long-term effects of colonialism in Africa, students can gain a better understanding of the continent's history and its current challenges, as well as develop critical thinking skills and an appreciation for the complexities of global systems and institutions.

Ahoy, matey! Are you ready to set sail on a journey through the hidden economics of piracy? In "The Invisible Hook", Peter Leeson explores the rationality behind pirates' notorious behavior, from their "pirate code" to their search for plunder. But that's not all - Leeson argues that pirates were actually pioneers of remarkable practices, such as constitutional democracy and workers' compensation. He even suggests that pirates exemplified the virtues of vice, proving that anarchy could be organized. Join Blackbeard, Black Bart Roberts, and Calico Jack Rackam on this swashbuckling adventure through history's most colorful criminals. Recommended for history buffs, economics students, and anyone interested in the intersection of rationality and criminal behavior. This book offers a unique perspective on piracy, revealing the economic forces that drove pirates to adopt certain practices and behaviors. It also highlights the surprising ways in which pirates were ahead of their time, from their adoption of constitutional democracy to their early system of workers' compensation. The book's exploration of the virtues of vice and the organization of anarchy may also appeal to those interested in political philosophy and sociology. Overall, "The Invisible Hook" is a fascinating and entertaining read that sheds light on a little-understood aspect of history.