Tag: nepotism
Economics is child’s play
Ten children are invited to a birthday party. As they arrive, they are each given three golden tokens. The host explains that they will play various games with great prizes using these tokens. In the first game the prize is a brand-new bicycle, which the host says he will give to whichever child offers him the most tokens. This is the supply of desirable goods.
Red flags that signal a country’s pending fiscal doom
Lebanon is facing a financial meltdown so severe that the World Bank has branded it as one of the worst since the mid-19th century. The country is fast spiralling into a dangerous situation of state failure, marked by violent riots, escalating blackouts and spiking fuel price increases.
