Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Mackay Charles (1814-1889)

Article retrieved from: http://www.econlib.org/library/Mackay/macEx3.html  Chapter 3- provides background on the introduction of the tulip bulb: Introduced into Western Europe around the middle of the sixteenth century.   Conrad Gesner claimed to have originally seen the tulip in 1559 Augsburg. The tulip belonged to Councellor Herwart, a famous man who collected rare exotics. Tulips were sought after … Continue reading Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Mackay Charles (1814-1889)

Are Keynesian policies a more viable method to deal with the economic crisis?

For Keynesian policies to be a more viable method to deal with the economic crisis, it would have to stop associating within society in the short-run, and rather focus on the individuals that make up society in the long-run. While, the term ‘society’ is inefficient to be used in the context of economics, due to … Continue reading Are Keynesian policies a more viable method to deal with the economic crisis?

The Significance and Utility of an Economics Major

Question: Explain the significance and utility of your major to the society 10 years from now. An economics major teaches a student two key principles, first that the future is uncertain and second that values are subjective. This paper will briefly explain the significance and utility of an economics major, attempting to demonstrate that whilst … Continue reading The Significance and Utility of an Economics Major

NPR: Why Kids Don’t Work Their Way Through College Anymore?

The answer to that question isn’t because they’re lazy. It is math. A summer job just doesn’t have the purchasing power it used to have in relation to tuition fees. Not to mention the minimum wage, pricing unskilled job seekers out of the labour market. Inflation caused by credit expansion on behalf of the central … Continue reading NPR: Why Kids Don’t Work Their Way Through College Anymore?