Essays on Economics

When the federal minimum wage was first introduced, it was meant to give workers just enough money to survive. As time passed and the price of living inflated, the federal minimum wage, now at $7.25 per hour, hardly does what it was designed to do….

Imagine a future where everything is seamlessly paid for via your phone. It’s a beautiful vision of what a cashless society would look like, however, with some dangerous unintended consequences. A cashless society is one where purchases by physical cash are no longer available and,…

Economic inequality is an existed phenomenon in the economy, which belongs to the gap between the rich and the poor. Like dividing a cake, every piece of cake which is held by people is not on average, so inequality happens in this proceeding. It is…

I believe that we as individuals are all morally obliged to help the poor, particularly like myself you are a somewhat privileged citizen of a developed country. Every week more than a quarter of a million children die from malnutrition and diseases. Many of these…

Cash, is money in the physical form of currency. Previously, we couldn’t live without cash because we need cash to buy everything that we need. Now, we can start living without cash because we have many ways to purchase something such as credit card, digital…

In recent years, a debate on whether or not America should keep the penny has arisen. Numerous Americans are in favor of keeping it due to sentimental value, while others say it is just too costly. There are multiple upsides as well as downsides to…

Money is modern times the most important invention. It has undergone a long historical evolutionary process. People went through a stage where money was not in use and goods were directly traded for each other. Batter exchange is called such an exchange of goods for…

Rich people have all the money they need and can buy everything they want but sometimes it’s not enough. Money can never truly make someone happy even though with all that money they can buy anything and everything they’ve ever wanted, sometimes what they truly…

Michael Moore from the very beginning puts one problem above the rest – it’s a mortgage. It is in this area that the financial structure has created a gap, which in turn served as the beginning of global changes in the US economy. However, Moore…

Compensating employees through financial payments in exchange for their labor and time is how wages are defined. An hourly rate of pay is determined as the amount of compensation paid to an employee in return for their services. The rate at which the employee is…