Debunking misconceptions around economics and money
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Guest of today's episode is Professor Jeffrey Miron. Doctor Miron is a distinguished professor and head of undergraduate studies in the department of Economics at Harvard University. Professor Miron is one of the leading experts in the fields of libertarianism and macroecnomics. In this episode we conversed about minimum wage, its effects on economy and should its presence in legislature be abolished.
19 Apr 2024
EconVerse #1| Charles Wheelan - Statistics
Guest of this episode, author of multiple NYT bestsellers and senior lecturer at Dartmouth College, Professor Charles Wheelan. This episodes unveils how statistics are computed, the fallacies behind them and how governments might implement them to mislead the public
24 Feb 2024
Exchange rates - what? why? how?
In this episode we discuss one of the most confusing topics of economics - exchange rates. Why Euro increases or decreases? Why world's strongest currency is Kuwaiti Dinar instead of Dollar or Euro? How currency rates are determined? Listen to this episode to find out answers for all questions regarding the perplexing concept.
15 Oct 2023
Inflation: Helper that everybody hates.
Inflation is among a few that everybody hates and terrifies. Media always tells us inflation estimations and how it is going to aggravate the economy. But did you know that steady inflation is the sign of a stable and well-performing economy? Love or hate, inflation is inevitable for a prospering life. Listen to this episode to find out why inflation is not as bad as you thought.
6 Aug 2023
Outsourcing: Why Nike produces more than 85% of its products in Asia?
Share of outsourcing has been significantly increasing over the last decades among developed economies, particularly in the USA. For example, clothing giant Nike's more than 85% percent of staff is employed in Asian countries, while the same figure accounting for their homeland USA conditionally equals 0. Why has the trend of outsourcing faced rapid and impressive growth? Who has benefited more in this situation? How is child labour in Asian countries misrepresented in the media? Curious? Find answers to the all previous questions in this episode.
28 Jul 2023
Champagne problems - how to store your billions
We all have at least once dreamt to become a billionaire - to live life of the dream, without limiting yourself on anything, without anything miserable. Having billions is indeed good, but how you can maintain that much money when one billion of cash occupies literally entire apartment building? In this episode we debunked what exactly comprises billions of billionaires and how good it can be the ways they keep their wealth.
21 Jul 2023
Monopoly: Two sides of the coin
Term of monopoly is familiar for everyone, even for people who are far from economics. We tend to associate monopoly as an evil company that overcharges for its product with an awful customer service. Although, this predominantly holds true, sometimes a monopoly can be the reason for our safety and accessible utilities. In this episode, we examined monopoly's formation and its both sides.
7 Jul 2023
Communism - beyond poverty and dictatorship
What are the first words evoked when you hear the word communism, probably - poverty, dictatorship and repression. But this is widely stereotyped idea regarding communism. Contrary to the public opinion, communism is an ideology that favors democracy and enabling better life standard for everyone. In this episode, we attempted to determine the reality of communism, what are its principles, the roots of misconceptions and why it cannot be successfully established in the real life.
23 Jun 2023
The reasons behind millions - Why football players earn that much?
It is not a secret for us that professional sportsmen, football players in particular earn millions of dollars. While major part of us condemn it saying pillars of our society including doctors or teachers has to make more income, tremendous money paid for football stars do come with solid reasons. In this episode we discussed the main ways how football clubs generate their multi billion revenue and why footballers deserve their 6 or even 7 figure salaries.
15 Jun 2023
Useful but flawed - Reality behind GDP rates
What is the first thing that we check out when we want to identify a country's economic situation? What is the most common measure of economic performance all officials and media use? The answer is - GDP. But does GDP present as image of a whole country's wealth? Meaning does GDP display a country's average life standard? Quick answer is - no. In this episode, we attempted to determine why GDP rates tend to be fallible and why it is insufficient to deduce about a country's average life quality.
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24 May 2023
Are free schools actually free? - Reality behind taxes.
How many times we have heard about "Free welfare services", almost every day in news, daily conversations we might discuss healthcare, education or infrastructure which are considered as a free gift from our government. But is that how actually works? This episode is devoted to taxes - their history, verity, principles and sometimes, drawbacks. Discover hidden sides of taxes or consolidate your knowledge with this episode.
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