What we refer to as leftwing economics is not monolithic. Communism, socialism, and liberalism are prominent political ideologies that have distinct approaches to economics. By examining their economic systems and views on private ownership, we can better understand the similarities and differences among these ideologies. This essay focuses on comparing and contrasting the economic aspects… Read More »
Adam Smith’s Law of Supply and Demand, also known as the law of markets, is a fundamental principle in economics that describes the relationship between the supply of a product or service and the demand for that product or service. According to this law, the price of a product or service in a free market… Read More »
5/10/2023 – Michael Humphries, Touro University Congressional leaders at loggerheads over a debt ceiling impasse sat down with President Joe Biden on May 9, 2023, as the clock ticks down to a potentially catastrophic default if nothing is done by the end of the month. Republicans, who regained control of the House of Representatives in… Read More »
Striking workers picket outside of Warner Bros. Studios on the second day of the Hollywood writers strike on May 3, 2023, in Burbank, Calif. David McNew/Getty Images David Arditi, University of Texas Arlington The current Hollywood writers strike has drawn international attention to the plight of TV and film writers in the streaming era. Much… Read More »
Forget real sneakers – soon we’ll be more worried about the digital variety. naratrip2 By Achilleas Boukis, U of Birmingham | June 1, 2022 Luxury fashion house Prada has a scheme for customers who want something even more exclusive than its usual range of clothing and accessories. Each month, on a first-come first-served basis, the… Read More »
By David Spencer, University of Leeds | May 31, 2022 There has been a huge amount of concern about rising inflation in recent months, and it’s made worse by the fact that wage inflation has not been keeping up. A few workers in high-paid jobs have enjoyed higher bonuses and inflation-busting pay rises – it has… Read More »
Sales of handguns have exploded in recent years. AP Photo/Sue Ogrocki By Michael Siegel, Tufts University | May 26, 2022 Americans have blamed many culprits, from mental illness to inadequate security, for the tragic mass shootings that are occurring with increasing frequency in schools, offices and theaters across the U.S. The latest, which occurred on… Read More »
McDonald’s is leaving Russia after three decades of operating there. Sefa Karacan/Anadolu Agency via Getty Images By Stephen Bagwell, U. of Missouri-St. Louis and Meridith LaVelle, U. of Georgia | May 25, 2022 McDonald’s provided many Russians with their first taste of capitalism three decades ago. Now, the global fast-food giant is exiting the country.… Read More »
By Sarah Schiffling, Liverpool John Moores U. & Nikolaos Valantasis Kanellos, Technological U. Dublin | May 24, 2022 Shanghai is slowly emerging from a gruelling COVID lockdown that has all but immobilised the city since March. Although Shanghai’s port, which handles one-fifth of China’s shipping volumes, has been operating throughout, it has been running at severely reduced… Read More »
By Kontrast.at |May 21, 2022 After success stories from Iceland and news about the large-scale field trial in Great Britain, a pilot project on the 4-day week is now starting in the USA. 38 companies are testing the 4-day week while the results are being scientifically analysed. Last year, some companies already tested the effects of… Read More »