Sabotaging the Free Market | How the Industrial Revolution and Great Depression Facts are Twisted

The effects of the Standard of Living by the Industrial Revolution The Industrial Revolution is a time in history that has undergone major debate and continues to be under great scrutiny, especially now when most of society views capitalism and capitalists as inherently evil and bad. In the typical high-school history class and textbook, pictures …

The Creation of Money and a Fiat Currency

Government 1B: Lesson 50 What is the origin of money? For most, money is represented by the crisp new paper bills that are kept in wallets, the tap of a debit card, or the transfer of an email. For a few, money is remembered as precious metal coins that bore the stamp of the king, …

Washington Monument Syndrome | Government manipulation tactics

Government 1B: Lesson 45 The "benefit principle" has been used to justify progressive income taxation. What is the benefit principle? Are there any problems with it? The benefit principle attempts to create taxation similar to market pricing, where individuals should be taxed in accordance with the benefits they receive from the government. While sounding nice …

Save the Trees or Save the Oceans | The Effects of Government Intervention

Government 1B: Lesson 40 Save the Trees or Save the Oceans The market and the environment have been hot topics for decades, and it is once again affecting our daily lives though not in a way you might have expected. Paper bags or plastic bags? Save the trees or save the ocean? This is the …

Moral Manipulation and Magna Carta

Government 1B: Lesson 15 Does the state have the right to redistribute wealth from some people to others? Why or why not? The quickest way to answer this question is by saying no, absolutely not. But I assume you will want a little more detail and reasoning behind this answer, so I will elaborate. The …

Manufacturing to Services

Economics: Lesson 165 If Americans 'buy Asian,' what can Asian exporters do with the dollars? Politicians have trained the public to believe that a manufacturing country is more wealthy. This is true, and the Industrial Revolution is the perfect example of this. But what happens when a nation gets exceedingly rich? It shifts from manufacturing …

Tariffs & Taxes & Invisible Lines

Economics: Lesson 155 Do import quotas benefit most voters economically? People understand that when they purchase an imported good from across the sea and it is brought over their national border, that they will have to pay an import quota. They don't know why, but they pay it anyway and are told it is to …

Price levels and monetary inflation

Economics: Lesson 145 If there is no 'price level,' how could anyone prove that monetary inflation raises prices? The price level is a statistic the tells the price of goods and services. The price level often fluctuates depending on how much money is in the market. When the money supply increases, prices rise. You might …

Where do Profits come from?

Economics: Lesson 135 How can profit arise in a free market economy if every factor of production is paid what it is worth to customers? The Free market competition pays all factors of production what the customers determine. The customers are in authority because they have the money. So if everything is paid what it …

How to make Tea | Not a single person knows

Economics: Lesson 130 Write about the division of labor required to create a simple household tool besides a pencil. This assignment may sound simple, but I found it very hard to quickly find a simple item to describe the division of labour. I finally decided to choose an item right in front of my face. …