The reason we have such a hard time understanding concepts in economics is because many of the definitions given to terms are so clear, yet filled with ambiguity. If terms like capital or institutions have more than one interpretation, this can have some implications when getting a message across. Sometimes, an alternative interpretation will completely … Continue reading Clearly Ambiguous: Capital
In the modern economy, where we are continually pushed to specialize and become freelancers, social capital is becoming more important than ever. But, like anything else in life, if you want more of it, you have to put in a little effort. Bootstraps don’t work on their own We see the phrase, “pull themselves up … Continue reading Is Social Capital the Most Important Type of Capital?
The “American dream” is rooted on the idea that people can go from “poor” to “not poor” in this country with a can-do attitude and strong work ethic. Although we’ve heard a handful of these “rags to riches” stories, research shows that it ain’t as easy as it used to be. In this series, we … Continue reading Capital and the American Dream