In 2005, oil was $65 a barrel. Gold was $513 an ounce. Thus, a barrel of oil could be bought for 0.127 ounces of gold.
Today, with oil at $127 a barrel and gold at $887 an ounce, a barrel of oil can be bought for 0.143 ounces of gold.
So, in nominal dollars, oil has gone [...]

Much of the world faces slower economic growth this year, initiated by the U.S. subprime mortgage crisis which has sliced assets and balance sheets of commercial banks throughout the world to the tune of at least $387 billion. The International Monetary Fund, which monitors economic conditions throughout the world, predicted in their latest outlook (April [...]

There has been a lot of news lately about conflicts of interest in the field of medicine. This has ranged from drug companies paying doctors to do research to device companies paying doctors for implanting certain devices. It has even gone as far as industry sponsorship of medical schools*. In the economic climate of declining [...]

It’s undisputed that the nonprofit arts industry has a large fiscal impact on the nation’s economy. According to Americans for the Arts, a nonprofit organization dedicated to advancing the arts in America, the arts and culture industry generates over $166 billion in “economic activity.” This activity includes both spending by arts organizations and event-related spending [...]

The rise of the United States to economic prominence can be attributed to the presence of the highly skilled workforce. But in the last 30 years or so, the skill level of the American workforce has stagnated. The U.S. is no longer a skill abundant country.
To produce a more highly skilled workforce among Americans, new [...]

An introduction to Nash Equilibrium and examples of how they work in Chess, and in Game theory