The Caste System Explained
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).
Money
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.
Understanding Cronyism and Monopolies
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).
Adam Smith as a Moral Philosopher
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.
Populism, Globalization, Nativism, Nationalism, and Other Such Terms
We explain populism, globalization, nativism, nationalism, neoliberalism, modernization, and other terms important for understanding modern world politics.
What is “the Invisible Hand”?
“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.
Is America an Oligarchy?
The United States is a Federal Republic with democratic values that some claim contains a growing oligarchy (or corporatocracy). We look at those claims.
Wealth and Income Inequality
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 Explained
Velocity of Money is a measure of money exchanged over time, typically how often and quickly the average dollar is exchanged per day.