Earthquakes in Nepal

What Happened? Background Information, Statistics, and More Three years ago, on the 25th of April 2015, the worst earthquake since 1934 devastated Nepal, creating massive damage and loss of human lives. The earthquake measured a 7.8 magnitude on the Richter scale, impacting roughly 8 million, injuring over 22,000, and killing nearly 9,000 individuals. To escalate … Read more

Colombian exchange

It is difficult to overstate the importance of the Columbian exchange and its effects are still evident to see today. The exchange of organic produce, livestock and disease from 1492 onwards have shaped cultures around the world. The traditional agents of the Exchange have been viewed as Europe and the Americas, however Nunn and Qian … Read more

Globalization, an interconnected world

Globalization has helped the world become more interconnected and has resulted in improved trade and cultural exchange. Globalization has also assisted the mass production of services and goods between different countries.   Stack (2002) defines globalization as ‘a blanket term referring to the increasing modern interconnectedness of nations, markets and people’. In this essay I … Read more

Fiscal policy

We are going to go over the terms fiscal policy and the types of fiscal policy that can be implemented in helping the economy out of a recession or to help the government by raising taxes. From my understanding, not all of this is very black and white and easy to understand. So, I hope … Read more

The idea of a “smarter planet”

Introduction   Since the reform and opening-up policy was launched in 1978, China is undergoing a giant transformation. It has been progressively assertive in an international arena. Owing to Deng Xiaoping’s era, the socialist market economy orientation has been steadfastly promoted. Urbanization has been rapidly constructed and economic achievement has been intensely made. Until 2016, … Read more

Globalisation as a worldwide economic phenomenon

Topic: Globalization as a worldwide economic phenomenon. Analyzing globalization from economistic, cultural and structural perspective 1. Introduction Globalization is considered a worldwide economic phenomenon. I will analyze this economic phenomenon from three perspectives: economistic, cultural and structural. Our world has become more interconnected and our relationship with one another is becoming closer. Compared with the past, … Read more

Nazism and Stalinism, born from an economic crisis of World War I

During the 20th century, Europe was protagonist of two charismatic leaders that fought to impose their ideology to the entire world. These leaders were none other than Adolf Hitler and Joseph Stalin. The former founded a political regime in Germany called Nazionalsocalism, better known as Nazism; the latter founded a political regime in URSS (Union … Read more

The history of banking

The history of banking can be traced to its first prototype existing in the merchant’s world in the 14th century who profited by offering grain loans to farmers who sought to transport their commodities between cities of Sumeria. Barclays bank is a British multinational firm with its headquarters in London, United Kingdom. Its origins can … Read more

Globalization

Globalization is defined by Merriam-Webster as, “an act or process of globalizing, or the state of being globalized; especially, the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.” (Merriam-Webster, 2018) With the introduction of the Internet to modern society, … Read more

PPP hypothesis

Where denotes the real exchange rate between the two countries. In its weaker relative form, it only requires: Clearly, the absolute version implies the relative, but not vice versa. Unlike the absolute which requires the real exchange rate of the goods to be in parity, the relative only require that it is constant over time. … Read more

The Life and Times of PPP

1.1 The Law of One Price and PPP The Law of One Price (LOP) is the whole basis and building block of any formation of PPP. In its most intuitive form, it states that the price of the same good in two different countries must be the same once converted into a common currency. This … Read more

Germany’s economy

Germany, the third-largest exporter and importer of goods, is a federal parliamentary republic located in central-western Europe. With a population count totaling 82 million inhabitants, Germany is the most inhabited member country of the European Union. In today’s economy, Germany stands to be a great power with a strong and sustainable economy. By nominal GDP, … Read more

What are economic sanctions in trade?

The most common definition of an economic sanction in trade would be the withdrawal of customary trade and financial relations for foreign and security purposes. These different sanctions are applicable to cities, states but also to a country itself. We could expose the case of the United States embargo of Cuba, targeting a specific country … Read more

The Austrian School of Economics

The Austrian School of Economics, which is also known as the Vienna School or the Psychological School is based on the concept of methodological individualism; which looks at how social and economic occurrences can be explained by the actions of individuals rather than groups. This concept was developed by the founder Carl Menger (1840-1921) and … Read more