Economics is the social science that studies the production, distribution, trade, and consumption of goods and services. Economics uses a mix of psychology, mathematics, experiment, and analysis to predict and understand economies.
Generally speaking, a modest increase to the minimum wage will increase household spending and thus stimulate the economy. However, this can be offset by job loss or hour reduction, inflation, and other factors.
According to 2016 data, slot machines account for more revenue than all other casino games combined, and penny slots account for more revenue than any other casino game.
The United States has the world’s highest incarceration rate and hosts more prison inmates than all other developed nations combined.
We present a simple guide to Marx, Marxian class theory, Marx’s theory of history, and Marx’s economic theories to help westerners understand what Marx was all about.