Halloween’s Effect on the Economy
Based on the Keynesian school of economic thought, major spending holidays can have significant short-term benefits for the economy by encouraging extra purchases that might not otherwise occur. According to…
How Tornadoes Impact the Economy
Consider the damage caused by three-second wind gusts at over 200 mph. Over 8,000 buildings flattened, 161 fatalities, and more than 1,000 injured, all costing $2.8 billion; making the tornado…
Trade Deficit
What Is a Trade Deficit? A trade deficit occurs when a country’s imports exceed its exports during a given time period. It is also referred to as a negative balance…
The Top 5 Most Unionized Industries
Employment in the United States is at some of the best levels since before the Great Recession started. The problem is, union jobs aren’t following a positive trend. In fact,…
Command Economy
What Is a Command Economy? A command economy is a key aspect of a political system in which a central governmental authority dictates the levels of production that are permissible…
Employability, the Labor Force, and the Economy
Narrowly defined, the term employability is a product consisting of a specific set of skills, such as soft, hard, technical, and transferable. Additionally, employability is considered as both a product…
United Nations (UN)
What Is the United Nations (UN)? The United Nations, commonly referred to as the U.N., is an international nonprofit organization formed in 1945 to increase political and economic cooperation among…
Organized Labor
What Is Organized Labor? Organized labor is a strategy of workers joining together to engage in collective bargaining for higher wages, job benefits, or better working conditions. Organized labor associations…
World Bank
What Is the World Bank? The World Bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement. The bank predominantly…