Ask an Economic Question

You are welcome to ask any questions on Economics. Though you might also like to try google custom search (top right) to see if the topic has been covered before.

I am looking to explain economic principles / ideas/ recent developments in economics. I can’t promise to answer, but will try if it meets the criteria below.

  • Please don’t ask me to do your coursework / assignment e.t.c. (I can usually tell if it is a homework question!)
  • Please don’t ask any maths calculations.
  • The question and answer will be published here where everyone can see it (including your teacher!)
  • I aim to try and simplify economics; as a rough guide I would aim at an understanding similar to a good British A Level student.
  • I am looking to explain economic principles / ideas/ recent developments in economics.
  •  I will answer as a new post, if you leave email address, I’ll usually send quick email. Check home page of blog for new post. With question and answers

Add comment at bottom of post.

By on January 13th, 2015

1,903 thoughts on “Ask an Economic Question

  1. How would the schools of thought (macroeconomics) so ; Keynesian, Classical and Monetarism manage a downturn in the economy seeing that the economy is ending a expansionary phase (business cycle) and what is the AD/AS relationship that leads to a recession gap?

  2. I saw some chart show interest rate for a very long time (some from 1900 and some from 1800). I am very intererted in it and need this data for history study.
    I am looking for data for FED rate (rate, time) and reserve requirement in US for as long as possible. I try to find in Bloomberg terminal but it only available from 1954.

  3. I came across an argument from Marxian economist Richard D. Wolff that suggest that governments ought to raise taxes on corporations and the wealthy (predictably) in the face of a budget short fall, rather that borrow through their bond instruments, because they are bought by the wealthy and corporations who could just have been taxed in the first place
    ( minus the interest payments to them and national debt). Is there any veracity to this? At all?

  4. hello sir
    my question here is that, what is the effect of devaluation of currency on the socioeconomic activities of a country ?

  5. We are in an age where the advancements in science and technology have been so phenomenal that we should be living in a utopia. God or if you don’t believe in God, then Nature or the Earth has given us the knowledge, the technology, the raw materials and the manpower to do all the things to produce a utopia but instead we are living in a country and a world where there are a myriad of problems which just seem to be getting worse and worse. All these problems are solveable with the aforementioned tools but the one thing that stops us doing this is something that hasn’t been provided but we have invented ourselves. I’m talking of course about money and there is something so very very wrong when we have been given all the basics yet we are prevented from making full use of them by something that is completely man made.
    I don’t understand economics but the system the world uses seems to be blatantly wrong to produce this ludicrous unnecessary mess we are in. Surely the world is crying out for someone to devise a better system so why is nobody calling for this.

    1. In brief, a different economic system doesn’t change the fundamentals of human nature. If we become more kind, selfless and thoughtful – then all economic systems will start to work better.

      But, if we only keep changing economic system – that cannot deal with limitations of human nature.

  6. Hello
    Can you please explain output level,pricing and the profits of the firm in perfect competition in both the short run and long run.
    This is so that I can get a better understanding, please thank you

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