Economic Security
What Is Economic Security? Broadly construed, economic security is the ability of people to meet their needs consistently. It is connected to the concept of economic well-being and also to…
When Is Inflation Good for the Economy?
Inflation is and has been a highly debated phenomenon in economics. Even the use of the word «inflation» has different meanings in different contexts. Many economists, business people, and politicians…
The Role of Commercial Banks in the Economy
Many of us share a fairly basic view of banks. They are places to store money, make basic investments like term deposits, sign up for a credit card or get…
Why Is Deflation Bad for the Economy?
Deflation is a fall in the overall level of prices in an economy and an increase in the purchasing power of the currency. It can be driven by an increase…
West Coast vs. East Coast Economy: Which Is Bigger?
West Coast vs. East Coast Economy: An Overview If California was a nation, it would be the world’s fifth-largest economy, edging out Great Britain.1 2 The state’s gross domestic product…
Overheated Economy
What Is an Overheated Economy? An overheated economy is one that has experienced a prolonged period of good economic growth and activity that has led to high levels of inflation,…
Racial Bias in Medical Care Decision-Making Tools
Racial bias in medical care can show up in some unexpected places. For example: Consider the clinical decision tools that play an important role in how today’s patients are tested,…
What Are Some Examples of Free Market Economies?
What Is a Free Market Economy? Governments highly control some economies. In the most extreme planned, or command economies, the government controls all of the means of production and the…
3 Ways Robots Affect the Economy
Robots are increasingly being used in every industry and are here to stay, and robotics usage has both positive and negative impacts on business and employees. The following are a…