Comparative advantages boost economic performance - Deepstash
The Psychology of Money

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The Psychology of Money

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Comparative advantages boost economic performance

Comparative advantages boost economic performance

One way to think about productivity is by considering how having people specialize in specific fields is integral to productivity.

For example, imagine a society where everyone does everything themselves. This would be really inefficient and people would not have as much leisure time. However, if people specialize in what they are good at, and then trade goods with each other, they will be much more productive and have more leisure time.

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How the governments complicit in stunting economic growth

How the governments complicit in stunting economic growth

Governments provide services that are important to the economy, like security and justice. However, when governments provide services like healthcare, infrastructure, education, and banking, it's important to ask if they can provide these services more efficiently than the private market can.

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Banks are integral to whether an economy grows

Banks are integral to whether an economy grows

Banks are important in our society because they help us save money in a safe way, and they also help us invest money in more educated ways than we would know how to do on our own. However, the relationship between the government and banks can limit our productivity.

The government can inte...

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Takeaways

Takeaways

Peter Schiff is a stockbroker who is famous for warning people about a potential financial crash before 2008 happened. He has also written a book on the topic called Crash Proof.

There are five clear messages that run throughout the book. They are:

1....

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Savings are important for everyone, including economy

Savings are important for everyone, including economy

Peter Schiff provides a clear and enlightening illustration of how the economy grows and why it crashes.

Each type of savings has a different effect on the economy. Money saved for a rainy day does not help the economy grow, but money lent out to those in need can really help an economy gr...

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Increasing productivity is the goal of any economy

Increasing productivity is the goal of any economy

The economy has been growing because it now takes us less time to provide the same resources.

An increase in productivity has allowed food, shelter, smartphones, and supercars to become more readily available to the general population. This is the goal of an economy. For an economy to incr...

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weeklyconcepts

Management concepts explained like tweets.

Peter Schiff wrote a book about the economic crashes that have happened throughout history. He talks about how inflation, deficit spending, and central banking can all be driving factors.

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Using free time

Since the WHO declared the new virus a pandemic and officials have urged people to stay home as much as possible, many Americans have suddenly found themselves with more free time and limited ways to spend it.

If you want to use this time to be productive, you have many historical role mod...

Types of people

Types of people

Category 1: Losers

People who always see negative in everything and put in the least amount of effort or no effort at all. They are least bothered about what is happening around them. They will only crib and complain about how the world is. They will say someth...

Why you need a personal website

1) A website isn’t static; it’s dynamic . It’s ever-changing. The moment you accomplish something, you can add it to your website. When you complete a project, you can put it in your portfolio for all to...

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