The concept of the "Prisoner's Dilemma" has been studied for over 60 years for its insights into political, military, and economic affairs. The scenario involves two criminals who must decide whether to cooperate or betray each other, with each facing different consequences based on their actions. This dilemma highlights the conflict between self-interest and cooperation, and how rational individuals acting in their own self-interest can bring about the worst-case scenario. Learning about this concept can help students understand the importance of cooperation and the dangers of solely focusing on individual self-interest. It also has practical applications in fields such as politics, economics, and international relations. By exploring this concept through reading, reflection, and self-directed projects, students can gain a deeper understanding of human behavior and decision-making.

Andrew Ross Sorkin's "Too Big to Fail" is a gripping account of the financial crisis that shook the world economy to its core. With unprecedented access to the key players involved, Sorkin takes us behind the scenes of secret meetings in South Korea, the corridors of Washington, and the corner office at Lehman Brothers. The book is a real-life thriller, revealing never-disclosed details and the decisions made on Wall Street that sowed the seeds of the debacle. This is a must-read for anyone interested in the world of finance, politics, and the fate of the global economy. Recommended for finance enthusiasts, political science students, and anyone interested in understanding the causes and consequences of the 2008 financial crisis. This book provides a moment-by-moment account of how the crisis developed into a global tsunami, with unprecedented access to the key players involved. It sheds light on the decisions made on Wall Street that led to the collapse of Lehman Brothers and the subsequent bailout of the world's biggest banks. Anyone looking to gain insights into the workings of the finance industry and the role of politics in shaping the global economy will find this book a fascinating read.

Get ready for the future of money! The UK Treasury and Bank of England are exploring the possibility of a digital pound, which could offer a trusted and accessible way to pay in the digital age. While it may use similar technology to cryptocurrencies like Bitcoin, the digital pound would be less volatile and always worth the same as cash. This could lead to a new way of making payments, with varying degrees of privacy for consumers. Don't miss out on this monetary science fiction!

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.

Are you fascinated by current world events and the interactions between nations, cultures, and societies? Do you want to explore the complexities of global politics and diplomacy? If so, studying International Relations at university undergraduate level might be the perfect fit for you. International Relations is a dynamic and ever-changing field of study that examines the relationships between countries and how they interact with each other on a global scale. It delves into the complexities of international politics, economics, and culture, and explores how these factors shape the world we live in. One of the most appealing aspects of studying International Relations is the opportunity to learn about real-life examples of international relations at work. From the UN peacekeeping missions to the Paris Climate Agreement, you will learn about some of the most significant events and agreements in modern history. You will also get to study the works of well-known academic figures such as Joseph Nye and Samuel Huntington, who have contributed groundbreaking theories to the field. At the undergraduate level, typical majors and modules include International Political Economy, Global Governance, and International Security. You can also specialize in areas such as Middle Eastern Studies or Human Rights, depending on your interests. For example, you could study the role of women in conflict resolution in the Middle East or analyze the impact of climate change on global security. After completing your degree, there are numerous potential career paths you could take. You could work in government agencies or think tanks, consulting firms, or international organizations such as the United Nations or the World Bank. You could also work in the private sector, with companies such as Google or ExxonMobil, who have a global presence and need employees with an understanding of international relations. To succeed in this field, it's helpful to have a strong interest in current world events and a desire to understand how they fit into the bigger picture. Strong analytical and critical thinking skills are also crucial, as is the ability to communicate effectively and work well in a team. So if you're passionate about global issues and want to make a positive impact on the world, studying International Relations at university undergraduate level could be the perfect choice for you.

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.

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.

Economics is the study of how societies allocate resources, and it's a fascinating field that can lead to a wide variety of career paths. If you're interested in understanding how the world works, and how money and resources are distributed, then a career in economics might be perfect for you! As an economist, you'll be responsible for analyzing data, making predictions, and advising businesses, governments, and other organizations on how to make the best use of their resources. You'll use your analytical skills to identify trends and patterns, and your communication skills to explain your findings to others. One of the most appealing aspects of a career in economics is the wide range of potential specializations. You might focus on macroeconomics, studying the overall performance of national or global economies. Or you might specialize in microeconomics, analyzing the behavior of individual consumers and businesses. Other areas of specialization include international economics, environmental economics, and health economics. To become an economist, you'll need at least a bachelor's degree in economics or a related field. Popular undergraduate programs include economics, finance, and business administration. Many economists also go on to earn advanced degrees, such as a master's or doctorate in economics. In addition to a strong educational background, there are several personal attributes that can be helpful for a career in economics. These include strong analytical skills, excellent communication skills, and the ability to work well under pressure. You should also be comfortable with math and statistics, as these are key tools in the field of economics. Job prospects for economists are generally strong, with many opportunities available in both the public and private sectors. Some notable employers include the World Bank, the International Monetary Fund, and the Federal Reserve. Private sector employers might include consulting firms, financial institutions, and multinational corporations. Overall, a career in economics can be both intellectually stimulating and financially rewarding. If you're interested in understanding how the world works and helping organizations make the most of their resources, then economics might be the perfect field for you!

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.

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.

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.

Does money buy happiness? Research shows that, on average, larger incomes are associated with ever-increasing levels of happiness. But the relationship becomes more complex when considering emotional well-being. An adversarial collaboration between researchers from Princeton and Penn universities reconciles contradictory findings and shows that, while most people experience greater happiness with larger incomes, an unhappy cohort in each income group shows a sharp rise in happiness up to $100,000 annually and then plateaus. For everyone else, more money was associated with higher happiness to somewhat varying degrees.

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?

The global financial crisis of 2008 led to economic turmoil and widespread job loss, but the role of OTC (over-the-counter) derivatives in the crash is not well understood. These complex financial instruments were designed to reduce risk, but they amplified it, resulting in massive losses and a bailout that cost taxpayers trillions of dollars. OTC derivatives are contracts that allow parties to speculate on the future value of assets such as stocks, bonds, or commodities. They are privately negotiated and not traded on public exchanges, which makes them less transparent and harder to regulate. Banks and other financial institutions created increasingly complex and risky derivatives, such as credit default swaps (CDS) that allowed investors to bet on the likelihood of default on mortgages and other debt in the years leading up to the crisis. When the housing bubble burst and homeowners began defaulting on their mortgages, the value of CDS contracts plummeted, causing massive losses for those who held them. This triggered a chain reaction of failures and bailouts as banks tried to shore up their balance sheets and avoid bankruptcy. The government bailouts of banks and other financial institutions during the crisis are estimated to have cost $12.8 trillion globally, including direct and indirect costs such as lost tax revenue and economic output. Leading academics have been critical of the lack of transparency and regulation in the OTC derivatives market. Senator Elizabeth Warren, a law professor and former chair of the Congressional Oversight Panel for TARP, has argued that the complexity and opacity of these instruments makes it difficult to assess risk and protect consumers. Nobel laureate economist Joseph Stiglitz has also warned of the dangers of unregulated financial innovation, calling for stronger oversight and better risk management. Understanding the role of OTC derivatives in the global financial crisis is a lesson in the need for transparency, accountability, and responsible risk management in the world of finance. By exploring this and related topics in more depth, students can gain valuable insights into the workings of the economy and the forces that shape our world.

Fred Block and Margaret Somers' book "The Power of Market Fundamentalism" delves into the paradox of why free-market ideas have persisted despite their failures. Drawing from Karl Polanyi's work, the authors explain how the free market championed by market liberals never existed and why markets cannot be self-regulating. The book reveals the theoretical flaws of market principles and how they threaten social life when public goods are subjected to market principles. This intellectually stimulating read is perfect for students interested in economics, political science, and sociology. Recommended for students of economics, political science, and sociology, "The Power of Market Fundamentalism" is a thought-provoking analysis of the paradoxical persistence of free-market ideas despite their failures. Fred Block and Margaret Somers' book extends Karl Polanyi's work to explain how markets cannot be self-regulating and why they require ongoing state action. The authors reveal the theoretical flaws of market principles and how they endanger social life when public goods are subjected to market principles. This book is relevant to professionals in public policy, business, and finance, as well as those interested in exploring the intersection of politics and economics.

Do you ever wonder why prices seem to go up every year? That's called inflation, and it's an important economic concept to understand. Inflation can impact everything from the cost of your groceries to the availability of jobs. While a little bit of inflation is healthy for the economy, too much can cause problems for households and businesses. As a high school student, learning about inflation can help you better understand how the economy works and how it affects your daily life. By understanding inflation, you can make better financial decisions, plan for your future, and even contribute to a healthy economy. Don't be afraid of the term "inflation" – it's a fundamental concept that you can learn and use to your advantage.

The Great Depression was a significant global economic crisis that lasted from 1929 to the late 1930s, leading to severe consequences for people worldwide. From the US stock market collapse to failed banks, bankruptcy, and the rise of Hitler's Nazi Party, this period marked a significant turning point in world history. Learning about this critical historical event can provide you with a comprehensive understanding of the economic concepts that govern our lives today. Through exploring the Great Depression, you can develop critical thinking, analytical skills, and a sense of how economic policies shape our world. By understanding the past, we can learn to make better decisions in the future.

Delve into the world of game theory and discover how it revolutionized economics and social organization. John von Neumann and Oskar Morgenstern's groundbreaking mathematical theory, first published more than sixty years ago, has since been widely used to analyze real-world phenomena including arms races, vaccination policy, and even major league baseball salary negotiations. This sixtieth anniversary edition of Theory of Games and Economic Behavior includes an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews from the New York Times and the American Economic Review. Discover the work whose influence will resound for generations to come. Recommended for students of economics, mathematics, political science, and sociology, as well as professionals in the fields of policy-making, game design, and business strategy. This book is also relevant to anyone interested in understanding how mathematical models can be used to analyze complex social phenomena. Whether you are curious about how game theory applies to presidential elections, vaccination policy, or even major league baseball salary negotiations, this book provides a fascinating introduction to the subject. Moreover, the book includes reviews and articles from the time of its original publication, providing readers with a historical perspective on the development of game theory as a field of scientific inquiry.

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.