Economics Explained

Latest Episodes:

How the U.S. Economy Just Lost 33% of its Value Sep 08, 2020

Show notes

On the 30th of July 2020, the U.S. Bureau of Economic Analysis released its 2nd quarter Gross Domestic Product report. The report noted a 32.9% contraction in annual GDP growth in the months of April, May, and June.

For reference, the 2008 subprime mortgage crisis of 2008 saw an 8% drop in annualized GDP figures at its peak.

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The Economy of Ancient Egypt Sep 08, 2020

Show notes

Ancient Egypt was amongst the first major human civilizations in existence. Outside of being genuinely fascinating the economy of ancient Egypt is enlightening to really pull apart because it represents an economy in it’s most basic form.

Targeted inflation, debt cycles, derivatives contracts, and even the financial sector are all crucial components of our modern and hyper-advanced economies. Egypt, had none of these...

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Why 40,000 People Die for Every 1% Increase in Unemployment - The Big Short Sep 08, 2020

Show notes

The big short was a fantastic movie, for finance nerds and regular viewers alike. One of the lines that stood out the most, amongst many memorable lines, was the claim that for every 1% increase in unemployment 40,000 people die.

This is an incredibly significant claim, that adds even more weight to the already significant societal issues that come along with people out of the job. So is this claim actually true?

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Black Market Economics - What Drives the Underground Economy? Sep 07, 2020

Show notes

Black Market Economics - What Drives the Underground Economy?

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The Weird and Wonderful Economy of Vatican City Sep 05, 2020

Show notes

This is Vatican city. The smallest widely recognized sovereign state in the world.

This tiny nation exists entirely within these walls, but its influence is felt the world over.

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Why Are Cold Countries Richer Than Hot Countries? Jul 18, 2020

Show notes

There are all manner of factors that make poor countries poor and rich countries rich. Many of these factors we have explored in depth when we have looked at economies like the democratic republic of the Congo all the way up to places like Switzerland and Norway. Political Stability, industry, natural resource wealth are all incredibly important variables but there is something extra here that just doesn’t seem to make sense.

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Is Wealth Inequality Actually a Problem? Jul 18, 2020

Show notes

The wealthiest among us today live a life unparalleled by any other human throughout history. The greatest Kings and emperors could only dream of the life afforded to today’s billionaires. It doesn’t end there, even mere multi-millionaires are living through a time where they have access to limitless information, unhindered mobility, and personal comforts. But this is all taking place at a time where a swelling population of people is struggling to make ends meet.

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What Would a Thanos Snap do to the Economy? Jul 18, 2020

Show notes

The justification was that this was necessary to restore balance to a universe that was overpopulated and putting too much of a drain on resources. Now instantly hazing half of the universe, is a bit extreme, but… When the same world can’t go a week without some news article telling us that global climate catastrophe is inevitable, natural resources are running dry, or that if everybody lived like the average American we would need 4 Earths to sustain them it starts to sound like we should hear this Thanos guy out.

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Could The Whole World Use Just One Currency? Jul 18, 2020

Show notes

Our world is home to over 190 countries using 180 currencies to trade, invest, and collect taxes. The global economy is complex at the best of times and the foreign exchange, or forex market only looks to add an additional layer of confusion and complexity. So this begs the question could the world adopt a single universal currency?

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Can Saving Too Much Money Cause a Recession? Jul 18, 2020

Show notes

People are told from the time they get their first job to save money. Save for a car, have an emergency fund, send your kids to college, a house deposit, oh and not to mention retirement (if that is still a thing). There are a million things to save for and on an individual level, it is almost always a good idea. So why is it then, that governments and businesses from around the world are so terrified of people saving money?

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