The Great Labor Shortage Crisis | Economics Explained

Here is Einstein's article in the Monthly review magazine.



Why Socialism? by Alber

t Einstein

This article was originally published in the first issue of Monthly Review (May 1949). It was subsequently published in...

South Africa is an economy that is really important to understand as a kind of potential outcome case study of inequality gone bad. The nation itself, on paper at least is not so terrible, it is actually one of if not the wealthiest...

We are all somewhat familiar with economic expansion and recession. And pretty much everyone has heard of The Great Depression. What are recessions and depressions? How do we describe the business cycles that produce them? Let's define...

In our society, most people have to have jobs. But what qualifies as a job? How do we determine who is part of the labor force? How has globalization impacted the labor force? We've all heard terms like outsourcing and offshoring, what...

More people need to understand creative destruction and the economic circle of life.

We invited these young bloggers -- self-styled as "The Kids" -- to attend our annual conference in Bretton Woods in April 2011, and we provided them with a video team. The Kids were playing in the halls of the Mount Washington Hotel,...

In this video I show you the business cycle and talk about how economists predict recessions. It turns out that they aren’t even that good at it. Remember, if someone tells you that they know for sure that there is going to be a...

In this episode of EconMovies, I use the movie Cars to introduce the idea of GDP, the business cycle, recession, and fiscal policy. Good luck studying economics. Kachow! :13 Micro v. Macro 1:27 GDP 1:47 Components of GDP 3:03 Business...

Everyone that’s been paying attention to the economy wants to know one thing: Is the United States going to have massive, uncontrolled inflation? In this video I answer that question and talk about how we got here.

The video discusses the economic problem, which is the challenge of satisfying humans' unlimited wants and needs with limited resources. The four main categories of economic resources; labor, land, capital, and entrepreneurship, are...

EconMovies explain economic concepts through movies. In this episode, I use Monty Python's classic to introduce the concept of marginal analysis. Good luck studying economics.

As China and Russia adopt their own variants, the reign of capitalism seems

absolute. Yet there are many who wish for an alternative and some
who
claim a final crisis is in the making. Is there a radical alternative tha
t...

Brendan Greeley visits the annual American Economic Association in Atlanta to discuss with old and young economists the state of economic sciences and whether lessons were learnt from the financial crisis.