In this blog post, we explore why the dollar, which dictates the global economy, is issued not by the government but by the FRB, a private bank. When America sneezes, the world catches a cold! The financial crisis triggered by the 2008 U.S. subprime mortgage crisis spread worldwide. At that time, news and newspapers flooded us daily with analyses of what the U.S. Federal Reserve Bank was...
This blog post examines whether technological progress has positively impacted not only the convenience of human life but also mental well-being. Since humans first began using tools, technology has advanced endlessly. Starting with the most primitive tools—stones and branches—humankind has progressively created increasingly sophisticated tools. This journey of technological advancement...
This blog post explores whether technological progress stems from humanity’s innate desires as an inevitability, or if it is a product of historical coincidence. In Korea, a passenger car glides smoothly and swiftly toward its destination, catching the cool sea breeze of Jeju Island. The car’s audio system connects to an iPhone, playing music that complements the beautiful...
This blog post explores whether science can reach absolute truth or is merely a tool revealing the limits of human perception. In 1968, Jerome Isaac Friedman, along with two fellow scientists, proved the existence of ‘quarks’ through the ‘SLAC-MIT experiment’ using an electron accelerator. Based on this discovery, modern understanding holds that atomic nuclei are composed not of protons...
In this blog post, we deeply explore whether we could truly become happier if an era arrives where scientific and technological advancement enables human immortality. Reflections on Technological Advancement and Eternal Life With the dazzling progress of medicine driven by technological advancement, humans can now live significantly longer than in the past. We can now cure various...
This blog post discusses the limitations faced by beginner investors, the importance of economic knowledge, and practical investment attitudes. These days, I’m a novice investor who has just stepped into the world of investing. The more I learn about various financial products like stocks, funds, and bonds, the more I crave information, and naturally, my dream of financial freedom...
Are the discount coupons offered by stores simply a benefit for customers? We explore the hidden intent behind price discrimination strategies and how they leverage consumer characteristics and behavior. The Dilemma of Pricing Strategy and the Secret of Coupons Elements of price discrimination are hidden within product pricing. The target they discriminate against is ‘people with money’! I...
How does loan interest arise, and what connection does it have to someone’s bankruptcy? We explore the complex relationship created by the operating principles of the financial system and the flow of interest in an easy and interesting way. Where does interest come from? Central banks have no choice but to keep printing money. This is because ‘interest’ doesn’t naturally arise...
This blog post examines the fierce debate between Malthus and Ricardo over the Corn Laws, exploring whose position—protectionism or free trade—was more valid. British economists Thomas Malthus (1766–1834) and David Ricardo (1772–1823) were very close friends. Malthus cherished him so much that he said, “I have loved no one more than Ricardo, except my own family.” However, the two often...
During the Great Depression of the 1930s, unlike classical economists who believed in self-recovery, Keynes argued for the necessity of government intervention. What impact did his theory of effective demand have on the economy? In the 1930s, the world was plunged into a severe economic depression known as the Great Depression, suffering greatly. In response, classical economists, who...