Almost every economics course begins with an introduction to the concept of opportunity cost. Put simply, an opportunity cost is an alternative that must be forgone in order to pursue a certain action. How many of us, though, actually calculate the opportunity costs of actions we see being taken every day? Recently I began to delve deeper into this question and started analyzing the opportunity... Read More
Have you ever wondered what you would do if it were your job to balance the federal budget? Raise tax rates on the rich? Cut discretionary and administrative spending? Alas, budget experts across the political spectrum agree that such measures, while overwhelmingly popular, will fail to slim our nation’s fiscal deficit considerably. Consequently, most schemes in Congress instead feature unpop... Read More
The currency market has many players and it is considered one of the most efficient markets in the world. When the value of a country’s currency decreases unexpectedly, the production sector of the economy has to endure higher prices of imported inputs and higher costs of production. While many companies in developed countries use the hedging instruments available in the marke... Read More
Modern day banking arose in fourteenth century Italy. Banca Monte dei Paschi di Siena, founded in 1472 in Siena, is currently the oldest operating bank in the world. The origins of the American banking system date back to 1780 with the founding of the Bank of Pennsylvania in Philadelphia. Its goal was to provide funding for the Continental Army that was fighting the Revoluti... Read More
Every story begins with a new chapter and on June 19, 2013 began one such story. This was the story of an impending economic collapse— that of the emerging markets (EMs). The press conference then Fed Chairman Ben Bernanke held that day will forever be etched in our memories for it caused ripples, albeit financial, across the world.
However, what were ripples in the west ... Read More
Jeb Bush served as the 43rd Governor of Florida from 1999-2007. He is the second son of former President George H. W. Bush and the younger brother of former President George W. Bush. Originally shared at the Foundation for Excellence in Education’s 2013 National Summit on Education in Boston on October 17, 2013.
As adults, we are responsible for the educational s... Read More
President Obama’s widely publicized and criticized healthcare exchange portal, which was mired in a battery of technical malfunctions, faces a quickly approaching self-imposed deadline on Saturday, November 30th. Although it’s uncertain whether all the site’s technical difficulties will be remedied by this date, and some Read More
John Kerry has made his rounds on the Sunday morning talk shows to discuss the much-anticipated interim deal struck between Iran and the P5+1. The atmosphere, reflected by the questions he faced, is full of both anxiety and excitement. The back-and-forth was largely focused on how the deal affects U.S. national security interests. This is not the proper forum to discuss the merits... Read More
To some, generating high profits and helping society seem paradoxical, perhaps even impossible. However, one of the burgeoning areas of economics is social impact economy, which lies in the intersection of innovation, economy, and technology. Social impact economy focuses on integrating positive social effects with economic benefits. Social investments differ from other ty... Read More