The Dutch Traded Manhattan for Nutmeg Fact
At the height of the spice trade, the Dutch traded Manhattan to the English for the Nutmeg-rich Run Island via the 1674 Treaty of Westminster.
Economics
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.
About Half of Americans Own Stocks Fact
According to a 2016 Gallup poll about half of Americans own stocks and about half don’t. This is down since 2007 when around 65% of Americans owned stocks.
The U.S. Has the Highest Incarceration Rate in the World Fact
The United States has the world’s highest incarceration rate and hosts more prison inmates than all other developed nations combined.
Understanding Marx and Marxian Class Theory
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.
There is a Gender Pay Gap Fact
The gender pay gap is real, and so is the gender earnings gap. Even after all reasonable differences are factored out, an unexplained pay gap between men and women exists across the board.
Charging Interest Used to be Viewed a Sin Fact
Usury (charging interest in moneylending, especially at high rates) used to be viewed as a sin by many religions and was banned by many cultures.
Work Creates Private Property and Economic Value Fact
As John Locke and Adam Smith elude, physical work creates private property and gives possessions exchange-value (value in a trade).
The Progressive Federal Income Tax System Explained
In America we have a Progressive Federal Income Tax system broken down into “tax brackets”. Tax Filers pay the “marginal tax rate” on each dollar of income in a given bracket (after most deductions, but before tax credits).
About Half of American Families Pay Little to No Income Tax Fact
About half of American families pay little to no federal income tax after tax credits and deductions. Payroll taxes, excise taxes, and sales taxes hit the average American family the hardest.
Neoliberal Globalization and Nativist Protectionism Explained
We explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of “neoliberal globalization” and “nativist protectionism.”