Courtesy of: Visual Capitalist Value of Words Anything in the world that is considered scarce, comes at a cost. This is the standard reality purported by economics professors everywhere. This includes words. The more scarce a particular word is, the higher the value. What's more is that words are like currency--it's what we use … Continue reading This Graph is Ah-mazing.
Jerome Powell replaced Janet Yellen as the new Chairman of the Federal Reserve. This change will give the Fed a chance to reconsider how it conducts monetary policy. There had been a consensus among macroeconomists since the 1980s, but like many things, it was shattered by the Great Recession. One alternative for the new Fed … Continue reading Making Sense of Nominal GDP Targeting
Though we don't like the sound of it, prices aren't increasing as fast as the economy's overlords would like. We might need to thank globalization for that. What's inflation again? Inflation is when prices of goods and services increase along with a simultaneous decrease in the purchasing power of the dollar. This is caused, almost … Continue reading Inflation Is Weird Right Now