What Is the 80-20 Rule?
The 80-20 rule, also known as the Pareto Principle, is an aphorism that asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal […]
Pay Attention to Your Fund’s Expense Ratio
All mutual funds and exchange-traded funds (ETFs) charge their shareholders an expense ratio to cover the fund’s total annual operating expenses. Expressed as a percentage of a fund’s average net assets, the expense ratio can include various operational […]
What Is a Labor Union?
A labor union is an organization formed by workers in a particular trade, industry, or company for the purpose of improving pay, benefits, and working conditions. Officially known as a “labor organization,” also called a […]
What Is the Knowledge Economy?
The knowledge economy is a system of consumption and production that is based on intellectual capital. In particular, it refers to the ability to capitalize on scientific discoveries and applied research. The knowledge-economy represents a large […]
Inflation This Year and Next
After a difficult couple of years, Americans are now feeling the pinch of higher prices. The cost of fuel, utility bills, weekly grocery shops, and so forth are skyrocketing, hurting consumer wallets just as they […]
A Brief History of the Market Economy
The free market describes an economic system where people voluntarily trade with one another in their own self-interest. A purely free market has little to no government intervention or regulation, and individuals and companies are […]
How Education and Training Affect the Economy
Affect the Economy How does a nation’s education system relate to its economic performance? Why do most workers with college degrees earn so much more than those without degrees? Understanding how education and training interact […]
The Top 25 Economies in the World
Gross domestic product (GDP) is an estimate of the total value of finished goods and services produced within a country’s borders during a specified period, usually a year. GDP is popularly used to estimate the size […]
The Path to Recovery: What’s Next?
Path to Recovery Looking at the economic and market outlook for 2020 just a few months ago, there’s no doubt times have changed. The spread of the coronavirus dealt a severe, unexpected shock that impacted […]
What Is Recession Rich?
Recession Rich “Recession rich” is a slang term used to describe someone who manages to increase or maintain their wealth during a financial recession. Depending on the circumstances, the term may not necessarily apply to someone […]