Economics Archives

Narrative-Based Economic Forecasting Methods (Robert Shiller)

What if economists collaborated with psychologists and sociologists? How could they benefit from spending more time on social media? In Narrative Economics, Robert J. Shiller argues that human beliefs and actions, rather than numbers and statistics, ultimately drive economic outcomes. From this perspective, he suggests that we adopt new approaches that broaden our understanding of economic events and help us make better predictions. Read more to learn about Shiller’s proposed narrative-based economic forecasting methods.

4 Economic Narratives We Can’t Shake (+ How They Work)

What are the consequences of the “American dream” narrative? What’s the truth about the gold standard? Economist Robert J. Shiller writes that narratives are extraordinarily powerful because they help us make sense of the world. By organizing random events and observations into stories with clear narrative arcs, we come to understand our world, how it came to be, and our place within it. Keep reading to understand how narratives work and to learn about four recurring economic narratives.

The United Auto Workers Union Strike: Background & Views

Does the public support the United Auto Workers union strike? Who does the strike affect the most? More than 34,000 members of the United Auto Workers union have been on strike for over a month, halting production at key plants. Polls show strong public support for the striking workers, which suggests sentiment may be shifting toward unions in the US. Continue reading for a background on the UAW strike and the opinions surrounding it.

Cold War Technology: The Power of the Semiconductor

What Cold War technology emerged in the 1940s and 1950s? How did military investment influence the development of electronics? Cold War technology centered on semiconductors and computer chips used for intelligence, guiding weaponry, and more. By understanding how the military influenced technological research and development, you can develop a better grasp of economic history. Read on to learn more about how semiconductors developed through the Cold War.

Chip War: Miller’s History of the Semiconductor, Explained

What can we learn from Chris Miller’s Chip War? What is there to know about the economic history of the semiconductor? In Chip War, Miller describes the growth of the semiconductor industry from invention to globalized mass production. He walks through each step of the semiconductor’s technological development, highlighting key international competitors in the industry. Read on for insights and explanations drawn from Chris Miller’s Chip War.

What Is Moore’s Law? Predicting the Evolution of Electronics

What is Moore’s law? Can we still use Moore’s law today? Moore’s law states that the number of transistors that can fit on a microchip will double every two years and that the cost of each transistor will decrease. Since it was first predicted in 1965, this has been roughly accurate; however, understanding whether we can use Moore’s law today requires a more thorough look. Read on to learn more about what Moore’s law is and whether it still makes sense today.

The Benefits and Downsides of Starting a Side Hustle

Why are so many Americans starting side hustles? What are the pros and cons of having a side hustle? Nearly 40% of Americans rely on side hustles to supplement their incomes as inflation has outstripped wages. While extra earnings provide a financial cushion, side hustles can negatively impact work-life balance and health. Continue reading for more insights into the downsides and benefits of a side hustle.

The Japanese Semiconductor Industry: An Economic Miracle

How did the Japanese semiconductor industry get such a foothold internationally? When was it at its strongest? The Japanese semiconductor industry started with entrepreneurs like Akio Morita, founder of Sony, who saw the potential of semiconductors in consumer electronics. Understanding how this industry developed gives you a better sense of where the Japanese semiconductor industry is today. Read on to learn about how Japan’s economy has fluctuated with the development of semiconductors and electronics.

Oppression Rebranded: Marxism in Today’s Society

What’s cultural Marxism? How is it different from traditional Marxism? Is it an actual threat to society? Douglas Murray believes that a new ideology of wokeism, intersectionality, and identity politics has gained a foothold in mainstream society and that it’s causing great harm. One of the culprits he points to is the influence of leftist academic ideas such as Marxism. Keep reading to learn Murray’s perspective on Marxism in today’s society.

Is There Still a Recession Coming, or Did We Avoid It?

Is there still a recession coming? Did the US manage to avoid the impending doom? Experts are still divided on whether the United States will face a recession, with signs pointing in both directions. Some say that interest rate hikes, oil price increases, and dwindling savings signal a possible recession. Others counter that there’s optimism for continued growth. Continue reading to learn more about the two perspectives.