Economic Basics
Classical Unemployment Explained
Quick Definition: Classical unemployment is a type of unemployment caused by real wages being ...
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Frictional Unemployment
Quick Definition: Frictional unemployment is the unemployment created with the movement between jobs in ...
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A Beginner’s Guide to the Big Mac Index
What is the Big Mac Index? The Big Mac index was first used by ...
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Economic News and Opinion
Premier League tickets – will prices ever stop rising?
The price of watching football in the UK has been the topic of much ...
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Should Economics be more mathematical?
This old argument of Qualitative Economics versus Quantitative Economics has always been controversial (we ...
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Pick your leader, Protect your system
Economists often assume government as a third-party agent, and is responsible for maintaining an ...
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Economic History
The Bretton Woods System and the Golden Age of Capitalism
By 1943, it became increasingly clear that WW2 was going to end in success ...
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Forgotten Violent Actors: Privateers
Not nearly as famous as pirates, or as infamous as mercenaries, privateers have become ...
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The First and Second Bank of the United States – A History of Central Banking
The Hamiltonian banks The United States’ Federal Reserve is undoubtedly one of the most ...
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Economic Biographies
John Forbes Nash, Jr. (1928 – )
John Forbes Nash Jr. is an American mathematician and co-recipient of the 1994 Nobel ...
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John Maynard Keynes (1883-1946)
John Maynard Keynes (1883-1946) was a British economist most famous for a set of ...
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Milton Friedman (1912-2006)
Milton Friedman (1912-2006) was an American economist, famous for his writings that formed the ...
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Most Recent Articles
Classical Unemployment Explained
Quick Definition: Classical unemployment is a type of unemployment caused by real wages being too high in the economy. Too high real wages mean firms cannot afford to employ all available workers so some are left unemployed Also known as: Real-wage unemployment What is classical unemployment? Unemployment occurs ...
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Frictional Unemployment
Quick Definition: Frictional unemployment is the unemployment created with the movement between jobs in a dynamic economy. What is frictional unemployment? Unemployment is a situation in an economy where there are people who are willing and able to work but do not have a job. There are many ...
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The Bretton Woods System and the Golden Age of Capitalism
By 1943, it became increasingly clear that WW2 was going to end in success for the Allied forces, and thus there was increasing interest amongst politicians and economists regarding post-war re-construction. In 1944 in the New Hampshire town of Bretton Woods, 44 allied nations agreed on a new ...
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