What does it mean that wealth is created?
You go to Walmart to buy: One cup of salted butter — $0.65 One cup of white sugar — $0.15 One cup of brown sugar — $0.15 Two tablespoo...Read More
Showing posts with label Economics Questions. Show all posts
Showing posts with label Economics Questions. Show all posts
If everyone on earth had an equal share of all the money that currently exists, what would that look like? Would everybody be middle class or would we all be poor?
When I grew up in communist China, we had something quite similar to that--*everyone* was issued what was called "liangpiao" roug...Read More
How is money lost? After the 2008 crisis, it was said that the world lost trillions of dollars. But since money (wealth) cannot be created or destroyed, only transferred, then where did all the money go?
Currently how much currency do you have in your pocket? Is that your total worth? Not really. You might have an education and job, that...Read More
How can I become a master of economics?
You wake up early in the morning to go to work. The first customer walks in, declares that he’s hungry, and buys a slice. When he’s d...Read More
Do rich people ever need to work?
The man in the picture, is one of sports best paid stars. He allegedly stopped loving boxing, yet needed to fight again due to money pr...Read More
What financial struggles do millennials face that previous generations didn't?
OK, millennials, here’s the straight stuff, ( and I speak in general, not specifics, because there are many exceptions…): You don’t k...Read More
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