The origins of trading appear to have no real beginning and seemingly no real end. Without it, our society,...

We discussed why trade was necessary in our previous article. Here we’ll cover trade in its most...

Money is often taken for granted as a part of our daily lives, but it is important to remember that it...

The value of an item is determined by its utility or usefulness to an individual.1,2 Contrary to this,...

The previous article discussed the properties of good money. In this article, we’ll explore the...

The Gold Standard The “What is Money?” series of articles explores the various properties...

Aftermath After World War I, the global economy was marked by unprecedented devastation, particularly...

After World War II, the global economy was in shambles, with Europe and Asia left in ruins, and widespread...

The Bretton Woods system, which came into effect in 1944, was a landmark agreement that established the...

In the mid-20th century, the world economy witnessed the rise of a new monetary system that would transform...

The global financial crisis (GFC) of 2007-2008, considered the most severe economic downturn since the...

Economics is widely considered by the public as a pseudo-science. I remember even the very little high-school...

Austrian economics is a school of economic thought that emphasizes the importance of individual action,...

The Water-Diamond Paradox, a cornerstone of economic thought, questions how two goods with vastly different...

Inflation, a term often heard yet seldom fully understood, is an economic phenomenon that impacts virtually...

The principles of why Bitcoin was designed in such a way have all been covered in the previous sections....