levidesmond69 (55)in Economics • 2 hours agoNeoclassical economics and their views Back in the late 19th century some economists had a revelation that what if we look at the economy with a different lens rather than looking at it through the lens of social…levidesmond69 (55)in Economics • 17 hours agoWhat Really Determines the Value of Goods and Services?What decides the value of goods and services? The pre classical and ancient economists describe free gifts of natures like land as what decides value. But according to Adam…levidesmond69 (55)in Economics • 2 days agoDoes China practice unfair trade practicesDoes China practice unfair trade practices? The World Trade Organization Commerce Minister claimed China’s economic boom was built on "unfair trade practices", hidden…levidesmond69 (55)in Economics • 3 days agoTrump's vs China Trade warDoes China have the upper hand in this battle? First of all China is NOT only reliant on exports to the US. As of 2024 only 14.7 percent of Chinese export finds its way to the…levidesmond69 (55)in Economics • 5 days agoGame theory and life applicationAfter the United States show of strength in WWII which reconfirmed their influence and status as the world power and given that no other country at that time has produced or used…levidesmond69 (55)in Economics • 6 days agozero sum game (Nash equilibrium)Nash's biggest contribution was proving that in any game there's at least one point where no player can benefit by changing their strategy alone Because the other player must…levidesmond69 (55)in Economics • 9 days agoPrisoners Dilemma (Tragedy of self interest)While other economic theories try to predict markets Game Theory asks a different question how do people behave when their success depends on others choices, someone might choose…levidesmond69 (55)in Economics • 9 days agoCAN THE ECONOMY FUNCTION AS A CHESS ♟️According to Wikipedia Chess is an abstract strategy board game for two players which involves no hidden information and no elements of chance. Also It is played on a square…levidesmond69 (55)in Economics • 12 days agoTHE GREAT DEPRESSION AND KEYNESIANISM The classical economics emphasis on the free market system as the best suit for the Economy and view the economy as self adjusting meaning in any situation the market always has…levidesmond69 (55)in Economics • 12 days agoCOMPARATIVE ADVANTAGE THEORY The mercantilist believes in trade restrictive policies which are based on maximizing export and minimizing imports But David Ricardo theory of comparative advantage has the…levidesmond69 (55)in Economics • 14 days agoADAM SMITH VS KARL MARX VIEW ON PROFIT Adam Smith often referred to the father of capitalism believes that labour = value which means the amount of work you put in something gives it its value for instance you are…levidesmond69 (55)in Economics • 14 days agoSHOULD WE REALLY TRUST THE INVINCIBLE HAND classical economics is an economy that runs best when left alone The core idea behind the classical economics born in the 18th century by Adam Smith when he published his book…levidesmond69 (55)in Economics • 16 days agoIS NATURAL ENDOWMENT A BLESSING OR A CURSEIf Japan as a nation is not threatened by a serious flood that could sink the country would they have come up with an innovative idea of building a large water reservoir to…levidesmond69 (55)in Economics • 17 days agoEFFECTS OF INSTABILITY IN DEMOCRACYDemocracy is one of the world's most practiced systems of government in today's world, and we have big Nations like the United States of America and other influential western…levidesmond69 (55)in Economics • 17 days agoDOES SOCIALISM CREATES LAZINESSSocialism is a controlled economic system that tries to create equality among citizens or among people within that economic system People often say it leads to laziness and…levidesmond69 (55)in Economics • 20 days agoIS CHINA A SOCIALIST STATE In a completely full socialist state the workers or laborers are allowed to own means of production but the distribution of goods and services is controlled and supervised by a…levidesmond69 (55)in Economics • 21 days agoMONARCHY ECONOMIC SYSTEM In a monarchy system the people are ruled by a monarch which is often a king or a queen the Monarch's role is passed down through the same family from generation to generation…levidesmond69 (55)in Economics • 24 days agoWHY DO GOVERNMENT BORROW MONEY When countries present yearly budgets they often come in surplus meaning they plan to spend more than their planned revenue Although most of this spending is really important…levidesmond69 (55)in Economics • 26 days agoHOW THE UNITED STATES BECAME THE LARGEST BORROWERThe united states owes the largest public debt or federal debt in the world to the tune of about $36 Trillion. In this article we are going to explain how the United States…levidesmond69 (55)in Economics • 26 days agoWHAT IS NATIONAL DEBTNational debt often referred to as public debt or external debt is the total amount of money a country owes it's creditors This shows that Debt is applicable to Everyone…
