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.

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?

If you're looking for a field of study that offers a fascinating blend of philosophy, politics, and economics, then Philosophy, Politics and Economics (PPE) is the perfect choice for you. This interdisciplinary field of study explores the fundamental principles that shape our society, economy, and political systems. One of the most appealing aspects of PPE is the wide range of topics that it covers. From the ethics of political decision-making to the economics of globalization, PPE offers a rich and diverse range of subjects that will challenge your thinking and broaden your horizons. For example, you'll learn about the philosophical underpinnings of democracy and the role that economic policies play in shaping our society. PPE is also a field that is constantly evolving, with new research and innovations being made all the time. Some of the most inspiring academic work in this field has come from notable figures such as Amartya Sen, Martha Nussbaum, and John Rawls. These scholars have made significant contributions to our understanding of political and economic systems, and their work continues to inspire new generations of thinkers and researchers. At the undergraduate level, you'll typically take courses in philosophy, politics, and economics, as well as related fields such as sociology and history. You'll have the opportunity to specialize in areas such as international relations, public policy, or social justice. Some interesting and enticing examples of potential areas of further specialization include environmental policy, healthcare policy, and development economics. If you're wondering what kind of career paths are available with a degree in PPE, the possibilities are endless. Graduates of this field often go on to work in government, non-profit organizations, or the private sector. Some popular career paths include policy analyst, economist, political consultant, and international development specialist. Key industries for prospective future employment include finance, consulting, and public service. Some notable and attractive potential employers from public and private sectors around the world include the World Bank, the United Nations, and Goldman Sachs. To succeed in PPE, you'll need to have a strong interest in philosophy, politics, and economics, as well as excellent critical thinking and analytical skills. You'll also need to be able to communicate your ideas effectively, both in writing and in person. If you're passionate about social justice, public policy, and making a positive impact on the world, then PPE is the perfect field of study for you.

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.

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.

In his book, Robert Bork offers a unique perspective on antitrust law that challenges conventional wisdom. He argues that these laws, often thought to protect consumers, actually do the opposite by favoring inefficient small businesses. Bork also delves into the societal tensions between liberty and equality that are reflected in antitrust law. This book is a must-read for anyone interested in economics, law, or politics, as it sheds new light on an important and often misunderstood topic. Recommended for students of law, economics, and political science, as well as anyone interested in understanding the impact of antitrust law on consumers and small businesses. The insights offered by Bork's analysis of the societal tensions between liberty and equality are also relevant to those studying sociology and philosophy. This book is particularly relevant to those interested in the intersection of law and economics, and the role of government in regulating business practices. It is also a valuable resource for entrepreneurs and small business owners seeking to understand the impact of antitrust laws on their industry.

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.

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.

Libertarianism is a political philosophy that values individual liberty and minimal government intervention. Its roots go back to the European Enlightenment and American independence in the 18th century. Libertarians believe in the principle of self-ownership and negative freedom, which means freedom from interference by others, especially the government. They advocate for a minimal state that only provides protection against force, theft, fraud, and enforcement of contracts, without public services such as health and education. Although critics argue that we need positive freedom, which includes access to things like decent housing, healthcare, and education, libertarianism's influence can be felt every time people attack big government or the nanny state. Learning about libertarianism can help students understand different political philosophies and develop critical thinking skills.

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.

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.

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.

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.

The pandemic has exposed the flaws in America's social contract and its ability to protect all citizens. Political philosopher Danielle S. Allen calls for a deeper understanding of the responsibilities of public decision-makers and citizens to repair the broken contract and build pandemic resilience and justice through good governance and strong bonds of solidarity.

In Uneasy Street, Rachel Sherman delves into the lives of fifty affluent New Yorkers, including hedge fund financiers and corporate lawyers, to uncover their perspectives on privilege and wealth. Contrary to popular belief, these "liberal elites" feel conflicted about their position in a highly unequal society and wish to be seen as "normal." They avoid talking about money and compare themselves to those with more, rather than less. Sherman argues that this ethical distinction between "good" and "bad" wealthy people perpetuates economic inequality and has become ordinary and acceptable to the rest of us. This thought-provoking book challenges our assumptions about the wealthy and their role in society. Recommended for students of sociology, economics, and political science, as well as anyone interested in exploring the complex relationship between wealth and privilege. The book sheds light on how the wealthy perceive their own position in society and how their beliefs perpetuate economic inequality. It is also relevant to professionals in finance, law, and other industries that intersect with wealth and privilege. Finally, Uneasy Street is a must-read for anyone concerned with social justice and the widening gap between rich and poor.

Are you passionate about the environment and the future of our planet? Do you want to make a real difference in the world? Then studying Climate Change Policy might just be the perfect field of study for you! Climate Change Policy is an interdisciplinary field that combines science, politics, economics, and law to address one of the most pressing issues of our time: global warming. As a student in this field, you'll gain a deep understanding of the science behind climate change, as well as the policies and strategies needed to mitigate its effects and adapt to its impacts. One of the most exciting aspects of studying Climate Change Policy is the real-world impact you can have. From designing renewable energy policies to developing sustainable transportation systems, the work of Climate Change Policy experts has a direct impact on the health of our planet and the well-being of future generations. As a student in this field, you'll have the opportunity to engage in cutting-edge research and innovation, working with top academics and experts in the field. You'll explore the latest academic discourse and learn from well-known figures like Naomi Klein, Bill McKibben, and Michael Mann, who have made significant contributions to the field. At the undergraduate level, you'll typically take courses in Environmental Science, Economics, Political Science, and Law, among others. Specializations can include topics like Climate Change Adaptation, Energy Policy, Environmental Law, and Sustainability. You'll also have the opportunity to gain hands-on experience through internships and research projects. The potential career paths for Climate Change Policy graduates are vast and varied. You could work for government agencies, non-profit organizations, or private companies, designing and implementing policies to reduce greenhouse gas emissions and promote sustainability. You could also work in academia, researching and teaching about climate change and its impacts. Notable employers in this field include the United Nations, the World Bank, and the Environmental Protection Agency, among others. To succeed in this field, you'll need to be passionate about the environment and committed to making a difference in the world. You should also have strong analytical and critical thinking skills, as well as excellent communication and teamwork abilities. If you're ready to take on the challenge of addressing climate change head-on, then studying Climate Change Policy might just be the perfect fit for you!

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.

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.

Discover the intellectual legacy of Robert Hale, one of the most original thinkers of the first great law and economics movement in the early twentieth century. In this book, you will explore Hale's groundbreaking writings on coercion and consent in market relations, which have made him a renowned figure among contemporary legal academics and philosophers. However, the bulk of his writing offers a profound and elaborated critique of libertarianism, specifically on natural property rights. This book is a must-read for those who seek to understand the complexities of libertarianism and its limitations in the modern world." Recommended for legal scholars, philosophers, and economics enthusiasts, this book offers a unique perspective on the law and economics movement through the work of Robert Hale. Hale's critique of libertarianism's natural property rights is particularly relevant to those interested in political theory, social justice, and economic policy. This book is a valuable resource for anyone seeking to understand the nuances of market relations and the role of coercion and consent in shaping them. It is also a must-read for those interested in the historical development of legal and economic thought.

Have you ever wondered why some CEOs earn hundreds of times more than their employees? In recent years, the topic of excessive CEO compensation has gained widespread attention and sparked intense debate. While some argue that CEOs deserve high pay for their leadership and contributions to their companies' success, others believe that such compensation is unjustified and contributes to economic inequality. In this write-up, we will explore the justifications for and advances in the area of excessive CEO compensation, and discuss the impact it has on the economy and society at large. One common argument in favor of excessive CEO compensation is that it serves as an incentive for CEOs to work harder and make better decisions. Supporters of this view believe that the promise of a large salary and bonuses motivates CEOs to maximize their companies' profits and shareholder value. However, critics argue that this argument is flawed, as there is little evidence to suggest that higher pay leads to better performance. In fact, some studies have found that excessive CEO compensation can lead to short-term thinking, risk-taking, and unethical behavior. In recent years, there have been several advances in the area of excessive CEO compensation. One significant development is the increased attention and scrutiny placed on CEO pay by shareholders, activists, and the media. This has led to a greater focus on the link between CEO pay and company performance, as well as the need for greater transparency and accountability in executive compensation. Another development is the rise of shareholder activism, in which investors use their power to influence companies' decisions on CEO pay and other issues. To fully understand the topic of excessive CEO compensation, it is important to be familiar with certain academic terms and concepts. One such term is "pay ratio," which refers to the ratio of CEO pay to median employee pay. Another important concept is "stock options," which are a form of executive compensation that gives CEOs the right to buy company stock at a set price. Additionally, "agency theory" is a key concept that is used to explain and resolve issues in the relationship between CEOs and their companies' shareholders. Several leading academics have made significant contributions to the study of excessive CEO compensation. One of these scholars is Lucian Bebchuk, a professor at Harvard Law School who has written extensively on the topic. Bebchuk argues that excessive CEO pay can lead to a misalignment of interests between executives and shareholders, and calls for reforms to address this issue. Another important academic in this area is Steven N. Kaplan, a professor at the University of Chicago Booth School of Business. Kaplan's research focuses on the link between CEO pay and company performance, and he has found that the relationship between the two is more complex than previously thought. Excessive CEO compensation is a complex and controversial topic that has significant implications for the economy and society.