Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Economics is the discipline that studies how people respond to scarcity, i.e., the observed fact that individuals desire more than they already possess, whether the object of their desire is wealth, health, education, security, or some other intangible good or service. An economy can be viewed as a social mechanism that emerges when individuals cooperate with others in order to deal with the problem of scarcity. It is a vast network of individuals (and institutions guided by individuals) that make, barter, sell, and buy goods and services in order to achieve their desired ends.
Economic forces are at work virtually any time exchanges occur or resources are used. A knowledge of economic principles—fundamental truths identifying patterns or components of economic cause and effect—is essential for understanding phenomena such as prices, markets, commerce, employment, industrial output, economic growth and prosperity, and business fluctuations. The economic way of thinking (including the recognition of incentives, constraints, opportunity costs, transactions costs, and self-interested motives) is also useful for the study of non-market phenomena such as government regulations, elections, lobbying, and government decision making.
Hasta La Vista WASHINGTON—A couple of weeks in the past, I shared with my colleagues at The Washington Put up Writers Group my want to discontinue writing my column due to some adjustments in my private life, about which extra in a…
Sheila Bair’s Legacy: Bailouts, Secrecy and Energy Grabs Good riddance to our outgoing FDIC chair Good riddance, Chairman Bair. After 5 years, Sheila Bair will depart in July from her publish as chairman of the Federal Deposit Insurance coverage Corp.…
Huge Authorities And Well being-Care Shares: A Joyful Marriage? What with the underwhelming market response to my earlier article discussing the impact of the 2010 federal Affected person Safety and Inexpensive Care Act (PPACA) on well being insurers, I used to be…
Lagarde’s Golden Alternative The IMF must return to its unique mission of reaching a secure financial basis for financial development. It may be laborious to recollect nowadays, however the Worldwide Financial fund began out as an plain drive for good.…
Downgrading America’s Politicians Commonplace & Poor’s resolution to downgrade America’s credit standing from AAA to AA+ says much more about our dysfunctional political system than about U.S. markets. Washington is injecting uncertainty and instability into an economic system that in…
Financing Fannie and Freddie’s Failures The Romney-Gingrich political grudge match over Freddie Mac presents a chance to ask a primary query: Why are Fannie Mae and Freddie Mac nonetheless working? Michael Williams’ latest resignation as CEO of Fannie Mae has…
Financing Failure: The State of Bailouts Overseers Merely Watch Whereas Establishments Go Up in Flames The current sound and fury concerning Richard Cordray’s appointment as head of the brand new Shopper Monetary Safety Bureau, although justified, ignores far more essential…
Forgive Pupil Loans? It’s the Second-Worst Thought Ever As the Wall Road protests develop and increase past New York, rising scrutiny of the nascent motion is warranted. What do these of us need? Alongside their ranting in regards to the…
Timothy Geithner’s Bailout Legacy Not One To Be Proud Of Timothy Geithner is in full “swan track” mode. Phrase is he’ll hand over his job as secretary of the treasury on the finish of 2012, no matter whether or not…
Bernanke’s Fairy Story Recession Story for Children It’s an oldie however a goodie for our Federal Reserve chairman. In considered one of his latest lectures at George Washington College (GWU), Ben S. Bernanke made the self-congratulatory assertion that the “forceful…
