Business & Finance

Economists are fascinated by the idea of money as a social institution— an agreement among individuals—that, if we keep it, makes our economic  lives  better  and  allows  our  economies  to  grow  more rapidly. This contract is as important to modern society as the invention of the wheel, and in this …

The Scope of the Problem China is the world’s top perpetrator of commercial cyberespionage. Cyberspying usually focuses on trade secrets—financial, business, scientific, technical, economic, or engineering information that is more valuable because it is private. Patent, copyright, trademark, and technical data information are stolen as well. Chinese cyberthieves have targeted …

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The US economy is definitely a kind of roller coaster, with relatively long stretches of gradual business growth punctuated by sharp declines, but usually shorter. Fortunately, increases have already been much more prevalent compared to dereases, therefore, the economy continues to grow substantially in recent decades, providing more jobs and …

Scope The term division of labor refers to the fact that in a modern economy, almost no one produces all or most of what they personally consume. People don’t grow their own food, treat their own illnesses, build their own homes, and make their own tools. Instead, with the division …