Monetary Policy Explained
Every country has a central bank, well, about 99% of all nations have one. Central banks control interest rates on money and thus, determine…
What Is A Consumer Surplus?
Consumer surplus is basically an economic measure of consumer benefit, which is calculated by analyzing the difference between what consumers are willing and able…
What Makes An Economy ‘Stable?’
There are a number of different factors that affect the economic stability of a country, such as the development of technology, human capital, levels…
What Are The Different Types Of Economic Systems?
There are four main types of economies in today’s world.
1. Traditional Economic System
A traditional economic system is the best place to start because it…
The Easterlin Paradox Explained
What is the Easterlin Paradox?
The Easterlin Paradox tells us whether we are more contented and at an advantage, as our living standards improve. In the…
Resurgence Of The Keynesian Economic Theory
Introduction
In the tumultuous global macroeconomic climate, which we find ourselves in today, people are increasingly looking back in time at the ideas of one…
