Economics Archives

Max Weber’s The Protestant Ethic and the Spirit of Capitalism

What’s “the Protestant ethic”? How did it give rise to modern capitalism? In The Protestant Ethic and the Spirit of Capitalism, Max Weber contends that the Protestants’ way of life laid the seeds for capitalism to emerge as a full-fledged economic system. His argument in The Protestant Ethic is considered a classic and is often compared to Karl Marx’s writings on the economic origins of capitalism. Keep reading for an overview of Weber’s argument presented in the book.

Is Inflation Good? It Depends Who You Ask

Is inflation good? Who is it bad for? what are the possible benefits? Economists disagree on whether or not inflation is a good thing. Some point out that it makes debt manageable, keeps housing prices in check, and allows the Federal Reserve to regulate interest rates. But others worry that it erodes purchasing power more than increased wages can support. Keep reading to find it if inflation could, in fact, personally benefit you.

Is There a Worker Shortage? (Why It May Be a Myth)

Why is there a worker shortage? Is the news exaggerating the shortage? The news surrounding the global worker shortage shows that demand is currently rising for goods and services, but many people who lost jobs during the pandemic are no longer seeking them. Because of the unique nature of this downturn in employment, there are many factors that might be holding people back from work. Read on to learn why there is a worker shortage and why it could also just be a media myth.

Climate Change and Severe Weather Are Hurting the Economy

How are climate change and severe weather affecting the global economy? How will this impact industries and residents alike? Floods, fires, storms, droughts, and other severe weather events pose an existential threat to many businesses and residents. Climate change continues to cause both local (through the destruction of factories and facilities) and international (through supply chain disruptions and worker shortages) challenges. Read on to learn what we got wrong about climate change and severe weather, including the economic impact.

Is the Current Labor Shortage Due to Jobless Benefits?

Why is there a labor shortage? What’s causing the shortage of workers? Could jobless benefits be the cause? As the economy starts to recover from the pandemic, some analysts contend that unemployment benefits are so generous that they discourage work. Many recipients make more through their benefits than they did in their previous jobs, so observers argue they have little incentive to seek work. Keep reading for our analysis of the current labor shortage and what factors are to blame.

Is Pandemic Unemployment the New Normal?

What is the current state of pandemic unemployment? How did expiring pandemic benefits affect the worker shortage? According to analysts, long-term changes brought about by the pandemic—including early retirements by millions and a changed attitude toward work—won’t likely reverse once the virus is totally under control. As society copes with the lasting impact of the pandemic, the labor shortage continues to be an issue in the workforce. Keep reading for an overview of why pandemic unemployment might be here to stay.

Will Inflation Go Back Down? Economists Warn of Vicious Cycle

Will inflation go back down eventually? What’s causing it to rise? When do economists predict it will end? Until recently, many felt inflation would relax once the pandemic-induced supply and demand imbalances aligned. But some now acknowledge that even if inflation is caused by the pandemic, the pandemic is nowhere near over—and neither is inflation. Read on to learn if inflation will go back down soon or, if not, how long it will last.

Why Electric Cars Aren’t the Future: An Unrealistic Luxury

Wondering why electric cars are not the future? What makes them an unrealistic, luxury product? Electric cars currently make up just 1% of the global automobile market. However, in the U.S., as in other countries, sales for electric cars have soared, breaking records even during a global chip shortage and ongoing supply issues. However, they come with a major limitation. Keep reading to find out what’s holding electric cars back from consumer adoption.

Top 2 Electric Vehicle (EV) Problems Right Now

What are the main electric vehicle (EV) problems currently? Are EVs reliable? Is it smart to purchase an EV right now? With big-brand car manufacturers, like Ford and Tesla, investing billions of dollars in new EV plants, it seems as if EVs are set to become our primary form of transportation. However, EVs are facing manufacturing and financial problems that could ultimately make them just a short-lived fad. Read on to learn the top two EV problems currently affecting the industry.

The Current Housing Market: Another Bubble?

In what ways does the current housing market resemble the 2006 housing crisis? Are we headed towards a second housing bubble? As housing prices spike and rents soar, it’s starting to feel like it did back in 2006. Luckily, there are some major differences between the current housing market and that of the 2006 housing bubble. To name some: there’s a decrease in the availability of credit and the cause of the inflated prices is different. Below, we’ll take a look at the current real estate market and compare it to the 2006 housing bubble.