Economics

Technology promised to set us free, yet here we are in the 21st century still clocking roughly 40 hours a week on the job. Over a century ago, workers bled and fought to cut grueling 10–16 hour days down to an “eight-hour day” – a standard that eventually became the Monday-to-Friday, 40-hour workweek. Visionaries like economist John Maynard Keynes even predicted that by 2030, people would only need to work 15 hours per week thanks to technological progress.… Read more

In a world where nearly every developed nation treats paid parental leave as a fundamental right—Estonia offering over a year and a half, Sweden splitting 480 days between parents, even China guaranteeing at least 98 fully paid days—the United States stands alone, stubbornly clinging to a patchwork of unpaid time off and employer discretion. Rooted in a cocktail of free-market dogma, cultural myths of self-reliance, and political gridlock fueled by business lobbying, America’s refusal to mandate paid leave isn’t just an economic anomaly—it’s a social wound.… Read more

Once a symbol of the American Dream, college has transformed into a crushing lifetime financial burden for millions, with student debt soaring to $1.7 trillion—a crisis born not from greed, but from deliberate policy shifts: starting in the 1970s, states slashed funding for public universities while federal aid pivoted from grants to loans, forcing students to shoulder costs that had once been shared by society; this fiscal retreat coincided with a powerful cultural myth—that a four-year degree was the only path to success—fueling enrollment and tuition hikes as universities competed for students with amenities like lazy rivers, all financed by easy credit; meanwhile, other nations like Germany (where public colleges are tuition-free) and the UK (with income-contingent loans forgiven after 30 years) treat higher education as a public good, avoiding America’s debt trap, leaving U.S.… Read more

In the United States, often hailed as the richest nation on Earth, a paradox is playing out in everyday life. The country’s economy is enormous by traditional measures, yet countless American families struggle to afford basic necessities. Meanwhile, on the global stage, the U.S. is facing a surprising rival for economic supremacy in an unexpected metric: purchasing power parity (PPP). This measure of “real” buying power reveals that America’s wealth advantage isn’t as clear-cut as many think.… Read more

In the wealthiest country on Earth, millions of people still struggle to afford basic necessities. Homeless encampments sit in the shadows of luxury high-rises in cities like Los Angeles and New York. Food bank lines stretch around the block in many American towns. Meanwhile, on the other side of the world, a nation that once had one of the largest impoverished populations has lifted hundreds of millions out of destitution within a few decades.… Read more

Income and wealth inequality reveal the deep fault lines in modern economies, where opportunity and prosperity are unevenly distributed across society. While income reflects what people earn, wealth captures what they own—and the latter often compounds over generations, widening the gap. Driven by factors like education, technology, globalization, and tax policy, inequality can erode social cohesion, distort democracy, and hinder long-term growth. Yet with progressive taxation, universal services, and inclusive labor policies, societies can rebalance the scales.… Read more

Market failure exposes the cracks in the free market’s promise of optimal outcomes, revealing how unchecked forces can lead to pollution, inequality, monopolies, and under-provision of vital goods like education and healthcare. Whether through externalities, public goods, or information gaps, these inefficiencies call for thoughtful government intervention—taxes, subsidies, regulations, and public provision—to realign private incentives with social welfare. Yet even well-intentioned policies can misfire, leading to government failure. The challenge lies in striking a balance where markets and institutions work together to promote both efficiency and equity in a complex, imperfect world.… Read more

Behavioral economics rewrites the script of traditional economic theory by showing that humans are not perfectly rational agents but emotionally driven, cognitively limited decision-makers influenced by biases, heuristics, and social cues. From loss aversion and present bias to the power of nudges and framing, this field blends psychology with economics to explain why we often make choices that defy logic yet feel intuitively right. Whether shaping public policy, marketing strategies, or financial behavior, behavioral economics offers a richer, more human-centered lens on how we navigate the marketplace—and why our decisions matter far beyond the numbers.… Read more