Oil prices are one of the most widely discussed commodities in the world. In the world that we live in, with its dependence on the transportation industry, oil prices drive the prices of almost every other commodity. The more the other commodity involved shipping, the greater the degree of the...

While macroeconomics might seem like an abstract field of study to some, for others it represents a very real link to personal life. Certain macroeconomic concepts do not just play out in textbooks. Rather, they have real-life applications to individuals in a wide range of situations. Specifically, unemployment, inflation, and...

One reason for economic disparity is the difference in earned wages between the rich and the poor. Job skills have a market price attached to them. Lawyers make more money than high school graduates working at McDonalds because there is a higher market demand and because they have invested more...

How did legalization of abortion legal help reduce the crime rate in the United States?In the recent past, the increase in crime rates was exponential. At the end of the 1980s, the numbers were skyrocketing and entailed the rise of homicide, drug dealing, robbery, and rape. The rates were growing...

In the 21st century and worldwide, water has become a scarce entity as nations become plagued with drought and insufficient water resources such as a full dam or desalination plant. This results in both cities and farmers clashing with one another for water rights and sufficient water to feed their...