The branch of knowledge concerned with the production, consumption, and transfer of wealth. It often coincides with politics in United States

The Law of Diminishing Marginal Utility and Debt Repayment

Law of Diminishing Marginal Utility I got on the subject of Law of diminishing Marginal Utility with The Wife today, a theory which I was able to explain to her today in english.  Despite it being an economic theory (read: usually hard) it is quite easy to understand.   First thing is first - utility means satisfaction.  Investopedia defines the Law of Diminishing Utility as, A law of economics stating that as a person increases consumption of a product - while keeping consumption of other products constant - there is a decline in the marginal utility that person derives from consuming each additional unit of that product. This post [...]

By |2013-09-26T15:01:56-04:00March 11th, 2009|Economics|9 Comments

Crash Course in Economics – Keynesian Economics 101

I started this blog so I can post about all things to do with money - including personal finance, economics and taxes.  I think I have blogged about ad naseum (hahah had to fit a little Latin jargon in there) about taxes and personal finances but very little about economics.  Notwithstanding, I had voiced my opinion about economics mostly during election season.  Want some examples? A Second Stimulus Will Not Help You Socialism is not a good Idea Regardless of Angry and Incoherent Comments What is the single most important initiative that the next administration should undertake to improve the economic health of the [...]

By |2013-09-26T15:01:58-04:00January 27th, 2009|Economics|0 Comments

Who Supports our Country? The Wealthy Pay Provide Most of Income Taxes

I know the title may be a tad dramatic, but I read an article from The Economist where the Author makes note that the deficit had been reduced (from 2004 to 2007) by, at least in part, due to the increase in income taxes from the wealthy getting wealthier in this country.  Take a moment to really think about how profound that statement is! As the rich got richer, they paid income taxes at a marginal rate of 35% (or close to it). As such, if we are to follow Obama's plan through the logical end - when we take those paying taxes at [...]

By |2013-09-26T15:02:04-04:00November 10th, 2008|Economics|3 Comments