The U.S Economy in World War II

America had been preparing for war long before the surprise attack on Pearl Harbor. Lend-lease aid had been approved in the spring of 1941 and American production was already starting to pick up speed. America would have to come to the rescue once again, but this time to save the world from fascism and imperialism,…

Mexico’s Economy, FDI and Trade

Mexico is a place of many advanced Amerindian civilizations. It is a country rich in history with populations who still hold and cherish the values taught by their ancestors. The modern period began early in the 19th century with a revolt organized by priest Miguel Hidalgo on September 16th 1810 which is now known as…

Gasoline and the Economy

Inelastic Demand Inelastic demand is a “situation in which a price change leads to a less than proportionate change in quantity demanded” (Hirschey). There are many goods whose inelasticity is considered perfect. Some of these goods could include; gasoline, coffee, cigarettes, and illegal drugs. As we have formed a basis for our inelastic principality, it…

Researching Economy, Nonprofit Arts and Culture in Philadelphia

The city of Philadelphia has been known for several years as the “Athens of America”. The city comprises a rich tapestry of cultural ground – art, music, theater, dance etc. Today Philadelphia has stretched its wings and with the expansion of Broad Street’s Avenue of the Arts, one can see that the artistic aspects of…

Nature and Significance of Adam Smith’s: Invisible Hand

“As every individual, therefore, endeavors as much as he can both to employ his capital in the support of domestic industry, and so to the direct that industry that its produce may be of the greatest value; every individual necessarily labours to render the annual revenue of the society as great as he can. He…

What Actually Affects the Economic and Political Outcomes of Countries?

How does a country become rich? When it reaches a high economic standard, how does it continue to hold up this wealth? What kind of political regime needs to be adapted for a country to be successful with its policies? These are only a few of the questions politicians and economists are faced with when…