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"
The long term capital gains tax is lower than other federal income taxes, including the capital gains tax and the income tax.
Lord Byron said something like, “the Jewish people gave mankind their first major religion, Christianity, and their second, Capitalism.” That isn’t too far off from the truth (as Milton Friedman also noted).
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.
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.
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.
A series of social and legislative changes in the 60’s ended an era of tuition-free state universities in the US and started the current student loan crisis.
Wu-Tang Clan produced an original album called Once Upon a Time in Shaolin that sold for $2 million to Martin Shkreli in 2015.
Blog Posts tagged with "Money"
Oil prices went negative on April 20th, 2020. This essentially translated to oil producers paying buyers to take oil. This was the result of a lack of demand for oil causing a lack of storage / a fear of a lack of storage.
Options contracts represent the right to buy or sell an underlying asset, before an expiration date, once certain price conditions are met.
In my opinion capitalism works because it is based around the built in incentive of capital. In capitalism, capital itself is an ever-present motivator. Producing capital is rewarded with capital, which inspires more capital to be produced. This is a feedback loop that drives the production of capital and the accumulation of excess capital.
Anyone keeping money in a savings account should consider putting that money in a money market mutual fund, short term bond fund term, or other fund designed to be liquid and price stable.
Did “nothing” in particular just pop the “everything bubble?” I explore that idea and explain what I mean by it.
The Federal Reserve (Fed) has the power to adjust the interest rates that banks charge each other. This impacts rates charged to consumers and businesses. The Fed adjusts rates as a tool to ensure economic stability in the US.
Some claim we are in the middle of an “everything bubble” (an economic bubble, not of an asset, but of everything). We examine this claim and offer opinions.
Bitcoin and other cryptocurrencies look like they are in a bubble here in 2017, in terms of historic bubbles, but no one can predict the future.
The tension between city interests and rural interests is at the heart of much political polarization, and in America it begs “the Southern Question”.
The Social Safety net is a collection of welfare services meant to help people bounce up when they hit bottom, it is not meant as a net to trap the poor under.
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).
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 the historical effects of social, political, and economic inequality on society to see how it has led to social unrest and events like revolutions and populist uprisings.
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 / oligopolies (the consolidating of corporate power in a given industry to one or few entities).
We explain Adam Smith as a Moral Philosopher, and explore how his Theory of Moral Sentiments connects to his economic theory from The Wealth of Nations.
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.
Book Reviews tagged with "Money"
Karl Marx’s “Das Kapital” or just “Capital” explains the nature of capitalism. From the purposes of commodities and money, to how they function in society as capital, to how this relates to wage labor, “Capital” is a detailed work on the philosophy, history, and mechanics of economics.
We explain the general idea behind Thomas Piketty’s Capital in the Twenty-First Century and offer links to summaries and the full text.
We explain Oscar Wilde’s The Soul of Man Under Socialism to illustrate his prophetic take on non-authoritative individualist socialism.