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.
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 federal income tax after tax credits and deductions. Payroll taxes, excise taxes, and sales taxes hit the average American family the hardest.
We explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of “neoliberal globalization” and “nativist protectionism.”
Eugenics (including positive eugenics which breeds traits, and negative eugenics which prevents breeding) has been practiced since the Greeks, but rose to popularity in the west starting in the late 1800’s.
One might assume James Monroe wrote the 1823 Monroe Doctrine, but its primary author was future-President and then secretary-of-state John Quincy Adams.
Stability isn’t necessarily destabilizing, but as Hyman Minsky’s Financial Instability Hypothesis eludes: longterm stability breeds instability and diminishes resilience in economic markets, mainly due to psychological factors.
Extreme equality and an extreme inequality are both equally as dangerous in a democratic society. In both cases it corrupts the government.
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.
All collectives are comprised of individuals, and all individuals comprise collectives; thus we can never fully consider collectives without considering individuals, or vice versa.
Modern banking originated in Italy around 1150 as Jews fleeing persecution brought new practices, including “discounting”, to the merchant banks of the Italian piazzas.