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10 Myths About FDR and The Great Depression
Photo by woodleywonderworks 1. Government Spending Ended the Great Depression A commonly held belief is that government spending stimulated the economy and eventually ended the Great Depression. Reality is excessive government spending took badly needed resources from the private sector and spent them on insolvable government programs and jobs that produced no real values. The…
5 Vital Economics Lessons Your Kids Won’t Get in School
While some schools are better than other, generally basic economic lessons are absent from public school curriculum. These are vital lessons needed to understand the world around them. Here are just five lessons I wish someone had taught me in school. 1. Prices Why do some things cost more than others? Why does the price…
8 Unbelievable Ways Government Wastes Your Money
If there is one thing government is good at it’s spending money. Next time vital services are cut during a shutdown, or government threatens to cut veteran benefits, we thought you could think back on some of these government expenses. When a politician tells you there is nowhere else to cut you will know they’re…
Wages and the Cost of Living: What Isn’t Being Considered
The case for higher minimum wages across the country is based on the premise that Americans cannot keep up with the cost of living. Recently I came across a post that charged Wal-Mart was irresponsible because a high number of their employees were receiving state benefits. The post claimed that Wal-Mart’s wages are so low…
10 Historical Leaders Who Financially Ruined Their Countries
“Khufu2” by _Khufu.JPG: byderivative work: Gospodar svemira (talk) – _Khufu.JPG. Licensed under Public Domain via Wikimedia Commons. 1. Pharaoh Khufu of Egypt Khufu was a Pharaoh of Ancient Egypt’s Old Kingdom. He reigned from around 2589 to 2566 BC. Khufu was the second pharaoh of the Fourth Dynasty. He is generally accepted as being the…
10 Facts about World Poverty That Will Shock You
Many people will be shocked by these facts about world poverty…. Photo by Bob Jagendorf 1. World poverty has been cut in half In the past twenty years the world’s acute poverty rate has been slashed in half! Measuring poverty is based on daily consumption, not income. In 1990, 43% of the world lived in…