United States History

 

Economy

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$100 Bills, or 'Benjamins'
The United States Economy is a tricky horse to tackle.  In fact, it's so complicated that every so often we have to select new people to manage it, such as Alan Greenspan, Timothy Geithner, Warren Buffet, and Ben Bernanke.  If you feel ready to delve into some more serious economics topics, click here.  If not, continue reading on this page to learn the basic principles of the U.S. Economy.

There are many publications that concern the U.S. Economy, mainly the Wall Street Journal and Forbes.  (While some may argue for the inclusion of The Economist to this list, it must remain omitted since it is a global economics publication)

The U.S. Economy can be split up into four distinct sectors: The Stock Market, Banks, Capitalism, and Introductory College Economics Courses.

Let's start of with The Stock Market.  In the stock market, people can buy and sell stocks with the intention of making more money.  When an individual buys a stock that is going down with the intention of earning a profit, he is said to be "selling short".  When an individual buys a bunch of different stocks that have been bunched together, he could either be buying a mutual fund or an ETF (Exchange Traded Fund).  It is unclear whether they are mutually exclusive, or if it is like the square/rectangle debacle.  (i.e., a square is a rectangle, but a rectangle is not a square)

Moving on to Banks.  Banks are not only one of the holding pots for American money, they are also the source of ATMs, credit cards, and other financial commodities.  Some banks, such as Bank Of America, offer you the opportunity to personalize your credit or debit cards with pictures or themes.

Thirdly, there is Capitalism.  Capitalism is the belief that the consumer drives the market and that we should let the private sector do things and let Darwin's "evolution system" play out in the markets.  That is, only the strong survive.  (Fun fact: Allen Iverson has a tattoo that reads Only The Strong Survive)  Adam Smith, author of The Wealth Of Nations, would probably be in favor of capitalism.  However, this claim cannot be verified because he is dead.

Last but not least, there is Introductory College Economics Courses.  Many Americans have taken a college economics course.  Perhaps it was Intro To Microeconomics or Intro To Macroeconomics.  These classes serve as the knowledge base for many American citizens and often lead to jobs out of college that don't involve economics.


Intermediate Economics

Economics does not simply "stop" with the information above.  In fact, it actually expands.  So much so that there are classes beyond Introduction to Economics at colleges and universities.  One of those courses is Intermediate Economics.  Fortunately, we've dedicated a portion of this site to the study of Intermediate Economics which you can find here!

Capitalism

Interested in learning more about Capitalism?  Great - because you can right here!