Through six facts about China’s political capitalism, we can see some of its economic strengths, weaknesses, contradictions, and history.
While the North Korean economy is centrally planned, the Choco Pie is a tiny example of the how a market system develops.
The story of a contemporary Russian wheat farmer is rather surprising when we look back at how the Russia economy has changed during the past 120 years.
Looking at the North Korean economy, economists have to become detectives because the government refuses to share basic statistics.
Our everyday economics includes central planning, unintended consequences, comparative advantage, transportation infrastructure, cost & developing nations.
In government, business and at home, the performance metrics we create always are accompanied by incentives that create unintended consequences.