What economist agree and disagree

The United States President Harry S. Truman was reputed ever said, “Give me a one-handed economist. All my economists say, ‘on the one hand… on the other hand.” Actually, it is not that bad—many agreements reached by economists and so few disagreements between them.

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What urbanization has done to American farmers? You will surprise!

Urbanization made American farmers richer than before. Why? Because urbanization makes land in rural areas cheaper due to the population decrease. The farmer bought this land from their ex-neighbor. More extensive land motivates them to invest in better agricultural technology. Net result: they are getting more productive and richer in the process.   What makes […]

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Race against machine.. will machine steal our jobs?

Automation will not reduce our jobs. It adds jobs but in different ways. Machines replace old, routine, and hazardous jobs. In contrast, a new economy creates new jobs. The net result: jobs are growing because of automation. What makes these research great? Because it counter our prejudice. The advancement of technology brought by news worries […]

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The good, the bad and the ugly of colonialization

Since many centuries ago, the best mind in mankind scholarship tried to answer the question of why some countries are rich, and some are poor. Ibn Khaldun, Adam Smith, and Karl Marx gave their analysis. But, cross country data were not available. Economists right now can obtain new conclusions by observing many cross-country data, including […]

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