An Inquiry into the Nature and Causes of the Wealth of Nations , one of Adam Smith’s masterpieces which until now has become the foundation of modern economics, contains the concepts of Smith’s thoughts for many years. In this article we will note the important points presented in the book. Please note that The Wealth … Read more
Inflation is one of the main topics in economic studies. The amount of inflation is very influential on the economic growth of a country. Inflation is often used as an excuse for not achieving economic growth targets. Not infrequently inflation is also used as a campaign tool for prospective leaders to win the votes of … Read more
In measuring the development and progress of a country, of course the main reference or indicator is how much economic growth is. Meanwhile, the level of economic growth can be seen from the value of the Gross Domestic Product (GDP) in the country. If the GDP is low and continues to decline for months, it can trigger an economic recession . What … Read more
The term economic bubble or often also referred to as a speculative bubble or financial bubble. This is one thing to watch out for, especially when you invest. Determining investment instruments is not an easy thing. Of course, everyone hopes that the chosen investment instrument can increase in price so that it will provide benefits in the … Read more
The economic growth of a country is closely related to the welfare of its people which also becomes a benchmark for whether a country is in a good economic condition or not. Simon Kuznets himself stated that economic growth is a condition in which a country is able to increase its production based on technological … Read more
In the previous material, we have studied the definition of inflation, its triggering factors, and economic policies to overcome it. In this article, we will study the situation opposite to inflation, namely negative inflation or deflation and its impact on the economy. 1. DEFINITION OF DEFLATION. In principle, deflation is a general decline in output … Read more
Concepts of Utilitarianism, Liberalism, Libertarianism, and Socialism in Economic Policy Determination. Determination of economic policy is a classic problem that has always been a debate. The question of what policies the government should implement regarding equitable distribution of social welfare often raises pros and cons. In this paper, we will study the basic concepts that … Read more