The World's Best Book Summaries
What’s fractional reserve lending? Is it ethical? Edward Griffin asserts that the Federal Reserve facilitates and legalizes fraud by allowing banks to engage in fractional reserve lending. He explains what the practice is and argues that it’s not ethical. Read more to understand this prolific banking practice.
What conspiracies are associated with the Federal Reserve? Is there anything to them? Edward Griffin discusses two conspiracies that are said to be behind the Federal Reserve: the bank cartel conspiracy and the world domination conspiracy. Griffin believes that these help us understand what’s going on with the Fed specifically and economics and politics in general. Keep reading to learn about these two Federal Reserve conspiracies.
How does the Federal Reserve System affect the economy? Should it be abolished? If so, how? In his book The Creature from Jekyll Island, Edward Griffin argues that much of what the Federal Reserve does is contrary to the best interests of the American people. He lays out a case that the Fed harms the economy, and he offers a strategy to abolish the system. Continue reading for an overview of this thought-provoking book.
How do cars contribute to climate change? Can electric cars offset the carbon footprint of gas-powered cars? The age of the car began on August 12, 1908. This was the day the first Model T was assembled, making cars a much more affordable commodity. The automobile has had an enormous impact on the world but is also a major contributor to carbon emissions. Let’s look at the numbers behind vehicles to explain why they are so inefficient as a means of transportation and why electric cars won’t save us.
Are you on the fence about capitalism? What are the advantages and disadvantages of capitalism? Capitalism is an economic system where resources and firms are privately owned without government intervention. There is an ongoing debate between critics and supporters of capitalism because of its many advantages and disadvantages. Below, we’ll look at why capitalism is a heavily debated topic around the world.
How long have fertility rates been falling? What are the economic implications of low birth rates? Falling fertility rates have the potential to significantly alter global dynamics in the 21st century. From 1950 to 2000, the global fertility rate dropped from around 5 to 2.6. If global fertility rates keep declining at the same rate, severe economic consequences are in order. Keep reading to learn about the economic repercussions of increasingly low birth rates.
How can you make your parenting decisions less stressful? What is economic reasoning? Emily Oster specializes in health economics and wrote Cribsheet to show the ways data can inform your parenting decisions. Oster’s findings in Cribsheet are relevant for any parents of young children and soon-to-be parents seeking advice on making research-informed, less stressful parenting decisions. Read on to learn how Oster says you can stress less over parenting decisions with economic reasoning.
What role do vaccines play in a country’s economy? How can increasing vaccination rates help combat poverty in underdeveloped countries? Vaccines are one of the most underestimated ways to increase a country’s standard of living. In underdeveloped countries, where infections are prevalent, increasing vaccination rates can even help lift the populace out of poverty. Keep reading to learn about the economic benefits of vaccines.
How accurately does national GDP reflect a country’s quality of life? What are the flaws with benchmarking a national standard of living against GDP? Gross Domestic Product (GDP) is commonly used as an indicator of a national standard of living. However, this is not necessarily the case. According to Vaclav Smil, the author of Numbers Don’t Lie, there are several reasons why we shouldn’t use GDP as a measure of a country’s quality of life. Here’s a look at GDP and standard of living.
Why is Big Tech bad? How, exactly, do these companies harm society? Scott Galloway identifies five ways in which the Four (Amazon, Apple, Facebook, and Google) have negatively impacted society. He discusses job destruction; prioritizing profit over privacy, national security, and democracy; tax avoidance; elimination of competition; and contributing to the decline of the middle class. Read more to learn how Big Tech companies inflict damage in their fight for market dominance.