Knut Wicksell (1851-1926) > “Money is a machine whose function is to do quickly and conveniently what would be done, though less quickly and conveniently, without it” — J.S Mill > ♥ An Introduction to an Ignored Problem: It is quite common that in undergraduate economics course, particularly in Money...
2020 was marked by a series of serious international tensions. We had a geopolitical crisis in the Middle East due to the assassination of Iranian general Qasem Soleimani and threats of war between the United States and Iran, an intensification of the trade war between the U.S and China and...
“Money is a machine whose function is to do quickly and conveniently what would be done, though less quickly and conveniently, without it” — J.S Mill
♥ An Introduction to an Ignored Problem:
It is quite common that in undergraduate economics course, particularly in Money and Banking, students are taught that money is adequately defined as a means of general exchange between economic agents and that it is an institution created for the purpose of eliminating the inconveniences of barter.
However, the student rarely asks himself the reason for this, much less observes that the logic given to him is wrong. What does it ultimately mean for currency to be a general medium... (read 2399 more words →)
2020 was marked by a series of serious international tensions. We had a geopolitical crisis in the Middle East due to the assassination of Iranian general Qasem Soleimani and threats of war between the United States and Iran, an intensification of the trade war between the U.S and China and a price war between Saudi Arabia and Russia on the price barrel of oil on the international market.
However, no such crisis will be as impactful for the current generation as the coronavirus pandemic. Since it appeared in China, SARS-Cov-2, also called COVID-19, has spread around the world extremely quickly due to the intercommunication of the global value chains and population... (read 2950 more words →)