The Laffer Curve

The Laffer Curve was conceptualized for modern economies by Arthur Laffer during a meeting in which he argued against President Gerald Ford's tax increase. The Laffer Curve shows the relationship between tax revenue collected by the government and tax rates paid by citizens. The tax rates depicted on a Laffer Curve range from 0% to 100%. The…
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Inheritance Tax

An Inheritance Tax is a tax paid by the individual who inherits a deceased person's property or money. Keep in mind that an inheritance tax is different from an estate tax. An estate tax is a tax imposed on a deceased individual's assets. There are two other types of taxes as well: indirect taxes and direct taxes (also known as an income tax).…
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Liquidity Preference Theory

The Liquidity Preference Theory says that the demand for money is not to borrow money but the desire to remain liquid. In other words, the interest rate is the 'price' for money. John Maynard Keynes created the Liquidity Preference Theory in to explain the role of the interest rate by the supply and demand for money. According to Keynes, the…
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Types of Monetary Systems

A Monetary System is defined as a set of policies, frameworks, and institutions by which the government creates money in an economy. Such institutions include the mint, the central bank, treasury and other financial institutions. There are three common types of monetary systems - commodity money, commodity-based money and fiat money.…
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Equitable Distribution of Income

A more equitable distribution of income may help accelerate growth and promote economic development. Equitable doesn't mean equal distribution of income. It refers to the distribution of income that is 'fair,' but the concept of 'fair' is subjective. Distribution of wealth and income is the way in which the wealth and income of a nation are…
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UberX Pricing by City [Raw Data]

UberX Pricing by City I find Uber's pricing strategy to be fascinating. I've previously written about Uber's price discrimination strategy, and there also have been reports of Uber pricing your ride based on where you're going. I realized that Uber probably operates in hundreds of cities around the world. After doing some research, the most…
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