All collectives are comprised of individuals, and all individuals comprise collectives; thus we can never fully consider collectives without considering individuals, or vice versa.
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.
Modern banking originated in Italy around 1150 as Jews fleeing persecution brought new practices, including “discounting”, to the merchant banks of the Italian piazzas.
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.
Below we present an annotated version of Andrew Carnegie’s 1889 essay Wealth (better known as the Gospel of Wealth).
In practice, human action often has paradoxical or unintended effects. Sometimes effects or side effects even have the exact opposite effect as intended.
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.
The rise of piracy and the birth of the public stock market roughly intersect, this is because the first public stocks were essentially a type of insurance against pirates.
In 1602, the Dutch East India Company (VOC) became the first publicly traded company when it sold shares on its own Amsterdam Stock Exchange (the first stock market).