The first known currency, the Mesopotamian shekel, dates back 5,000 years. Since then, people have used everything from furs to salt to livestock as money. How did modern currency come about? […]
Government oversight of the banking industry is a controversial subject. Regulation can provide financial system stability, but can also be costly. How do governments regulate banks and financial firms in the United States? […]
The World Bank provides assistance to developing countries worldwide. This assistance can come in the form of technical or financial aid. What is its organizational structure like? […]
America’s gross domestic product (GDP) is continuing on a steady rate of growth. Adjusted for inflation, the GDP increased by 2.9% at the end of 2022. How does human behavior affect economic growth? […]
Why do exchange rates matter? Any time one country’s exchange rate increases, the prices of its goods and services go up in other countries. Varying rates affect import and export prices around the world. […]
The Great Depression was an event that devastated not just American families and business, but also the lives of people and nations around the world. How did this chapter of history ultimately shape the face of the modern world? […]
To see how economic mistakes can repeat time and again, you need look no further than recent history. The Great Depression was the result of a combination of protectionism, populism, and nationalism that combined with bad government policy to make a toxic brew that mired the U.S. and much of the world in an economic downturn for nearly a decade. These collapses demonstrate how easy it is to assume large-scale economic failures are isolated when in fact they are immersed in long-standing philosophies and can have immense global ramifications. […]
To see how economic mistakes can repeat time and again, you need look no further than recent history. […]
After the global financial crisis of 2008, regulators in a number of countries proposed rules to insulate traditional banking (taking deposits and making loans) from the risks associated with other financial services. […]
It’s amazing how just a few items—coffee, tea, sugar, tobacco, and spices—completely changed the focus of the global economy, especially as they’re all entirely superfluous. […]
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