Economics Explained

Exploring the economic impact of prisons on national economies. Discussing the high costs and negative externalities of non-violent crimes. Examining the advantages and drawbacks of prisoner employment and the role of private prison companies.

Inflation is something we more or less take for granted these days. The idea that 5 dollars today is not going to be able to buy 5 dollars worth of stuff in the future, and the fact that you used to be able to buy a family home for 10 grand, are all the result of inflation. The idea that over time money becomes worthless and less influences a lot of decisions in out lives. Everything from retirement planning to salary negotiations take this relatively benign and constant force into account. But it is something that should be feared.  Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Taiwan, or officially, the Republic of China, a country in east asia, which if you can’t tell by how delicate I am being with these titles here is consistently under a bit of ehh let’s call it scrutiny. So contentious in fact that any country that is doing business with the people's republic of china, you know China, has to officially declare that they recognize the island of Taiwan as the sovereign territory of China.While this is all very confusing, the fallout is that the nation of Taiwan is only officially recognized by a tiny selection of countries from around the world. These countries include economic superpowers like Guatemala, Haiti, the Marshall Islands and Vatican city collectively making up only accounting for around 50 million people and covering a tiny portion of world trade.So it's not exactly like they have brought their A team. Learn more about your ad choices. Visit megaphone.fm/adchoices

This podcast explores the limitations of GDP as a measure of economic prosperity and discusses potential alternative indicators. It discusses the challenges in calculating GDP, including the exclusion of the informal economy. Additionally, it delves into the shortcomings of GDP as an indicator of economic growth, and advocates for considering factors beyond economic output in measuring living standards.

The Fire movement is a growing trend amongst young workers which is growing in popularity thanks to its very enticing goal which is spelled out in the name.FIRE is an acronym of Financial Independence and Retiring Early. The idea is that by following a very aggressive saving and investing strategy people can get to a point where they are effectively retired at a very young age, sometimes younger than 30. Getting to that point is harder for some than others, but advocates of the movement argue that this difficulty has more to do with personal lifestyles rather than personal incomes.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The podcast explores the challenges of hustle culture and overworking in today's workforce. It discusses the historical changes in working hours and the impact of longer working hours on the economy. The correlation between working hours and wealth in OECD nations is also explored.

The economic impacts of 2020 have been felt far and wide and we have covered these problems in-depth in a handful of videos on this channel. But the logical question that most people are asking is what comes next? Disasters happen and they are never pleasant but part of being a nation, a business, or even an individual is being able to deal with adversity and come out the other side. Because of this people are expecting a recovery of sorts, and it seems like the only point of contention will be what letter of the alphabet this recovery will represent.  Other speculations include a W-shaped recovery where we will see 1 recovery then another decline as the effects of government stimulus and relief packages wear off only to be followed by another genuine recovery later on.  But amongst all of this, there is one type of recovery that we should all be very afraid of, one that is not getting nearly as much airtime and one that is actually being hurt by a lot of current policies and that is a K shaped recovery. Learn more about your ad choices. Visit megaphone.fm/adchoices

Economics is considered a social science, and although some other scientists from more “rigorous” fields don’t always welcome it into their little club, it still follows the same processes to explore the world around us.  And, as with science, or anything that is extremely complex for that matter, there are disagreements between practitioners at all levels of academia and throughout the entire history of the subject. Learn more about your ad choices. Visit megaphone.fm/adchoices

The market for alternative investments has been a really exciting field in recent years, with everything from Bitcoins, to beanie babies being touted as the next must-have to outperform the boring old stock market. Now some of these investments have been good some of these investments have been bad, and many haven’t been around long enough to really tell yet, but the aftermarket for high fashion is a really interesting entrant into this world.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover the factors behind Vietnam's rapid economic growth, challenges it faces in becoming a developed nation, its dependency on China, the impact of social policies, and the importance of multinational corporations in its success.