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.
Money is any item or record accepted as payment for goods, services, or debt. This includes physical fiat currency, digital currency, and mediums of exchange.
Factoids tagged with "Money"
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.
Over 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 the hardest.
Leonardo Fibonacci introduced the modern decimal numeral system (the Hindu–Arabic numeral system) to Europe in 1202. Before this Roman numerals were used.
The word bank is commonly thought to come from the Italian word for Bench “banco”, as the first banks were benches in Italian trading centers.
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).
Andrew Carnegie, John D. Rockefeller, and other Barons of Industry freely gave away most of their fortunes to charitable and philanthropic causes.
Blaise Pascal and Pierre de Fermat invented probability theory in 1654 to solve a gambling problem related to expected outcomes.
Very few can make a living off of blackjack. To win in the long run you must count cards, watch tables, risk big money, and employ questionable betting strategies.
Blog Posts tagged with "Money"
Social Capitalism can be defined as a socially minded form of capitalism, where the goal is doing social good, rather than just the accumulation of capital.
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.
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).
Below we explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of neoliberal globalization and nativist protectionism.
Below we explain how currency gets into circulation via the Treasury, Federal Reserve, and banks, and the role Congress, banks, businesses, and you play in the process.
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 political and economic inequality in terms of their effects on society, such as the social unrest that led to historic revolutions like those of Athens, Rome, France, and even America.
India’s caste system is a class system based on birth. These classes, or “Varnas”, are: Brahmins (priests), Kshatriyas (ruling and military), Vaishyas (merchants and farmers), Shudras (peasants), Dalits (untouchables).
We explain two types of special interests: cronyism (politicians working with corporate interests) and monopolies (the consolidating of corporate power in a given industry to a single entity).
Adam Smith is best known as the father of modern economics, but his moral philosophy lies at the core of his economic philosophy.
We explain populism, globalization, nativism, nationalism, neoliberalism, modernization, and other terms important for understanding modern world politics.
“The invisible hand” is a term used by Adam Smith to describe the theory that self-interest leads to social and economic benefits in a free-market.
The United States is a Federal Republic with democratic values that some claim contains a growing oligarchy (or corporatocracy). We look at those claims.
We explain economic inequality from a historical perspective, and then consider the effects of wealth inequality and income inequality in America today.
Velocity of Money is a measure of money exchanged over time, typically how often and quickly the average dollar is exchanged per day.