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.

The Birth of Modern Banking

Modern banking originated in Italy around 1150 as Jews fleeing persecution brought new practices, including “discounting”, to the merchant banks of the Italian piazzas.

The 2007 – 2009 Financial Crisis Explained

We explain the Financial Crisis / Great Recession of 2007 – 2009 that began with the 2006 housing bubble, led to a recession in the U.S. by December 2007, and became a global crisis by 2009.

Politics Can be a Science Fact

Politics can be treated as a science (political science), but it must always seek data that can be confirmed by our senses (empirical evidence).

The Paradox Principle

In practice, human action often has paradoxical or unintended effects. Sometimes effects or side effects even have the exact opposite effect as intended.

The Historical Effects of Wealth Inequality

We examine social, political, and economic inequality in terms of their effects on society, such as the social unrest that led to historic revolutions and populist uprisings.