Economy & Policy
12 articles
How does your income stack up against the average American’s? To answer this, you need to know the average income in America. As of 2020, the average U.S. wage was $55,628.60 and the median household income was $67,521.
Internet searches for “recession” are trending as people wonder whether a slowdown is coming and what it could mean for them. Learn what a recession really is, what it does to the economy, and how you can prepare.
The Glass-Steagall Act was passed in 1933 to help prevent something like the Great Depression from ever happening again. Though other legislation has partially replaced it, it’s important to understand the law — and why many are calling for its reinstatement.
In an inflationary environment, your money loses purchasing power. Investors often look for assets that act as inflation hedges, which retain their value or even increase when inflation runs hot. Learn about the best inflation hedges to consider today and how to buy each type of asset.
People tend to think of “inflation” as a dirty word and a phenomenon to avoid. But a gradual increase in prices and wages over time is inevitable and — if kept in check — positive for the overall economy. What is inflation, what causes it, and what does it mean for you? Learn all about it here.
With each transaction you make, from working at your job to buying a quart of milk, you’re part of the market. Your actions affect the market as a whole, helping to determine the price others will pay for goods and services. But what is a market economy really, and how does it work?
Gross domestic product (GDP) is one of the most common measures of the economy for any nation. It is an important calculation but doesn’t always tell the whole story. Read on for a primer about what gross domestic product is, how it’s calculated, its limitations, and why GDP should matter to you.
Are you starting to notice that many of your favorite brands’ offerings are getting smaller — without a change in price? That’s called “shrinkflation,” inflation’s stealthier cousin. Find out how it works, what causes it and how to avoid it.
All federal credit unions operate under the supervision of the National Credit Union Administration (NCUA), a federal agency charged with regulating their activities and protecting individual members’ deposits. Learn about the NCUA and its functions to protect consumers.
Politicians disagree on whether strong labor unions help or hurt America’s working class. It’s worth considering the role labor unions have played in America’s past and what role they could play in its future. Learn about labor unions in the United States, how they work, and their pros and cons.
Almost 2 million Americans live on minimum wage, which despite inflation hasn’t increased since 2009. But is that a living wage? Explore the ins and outs of living on just $7.25 per hour through both a fictional American named Kai and the stories of real-life Americans who do it every day.
We accept the fact that things get more expensive over time because of inflation, but that’s not always the case. Although rare, certain economic conditions give rise to negative inflation, popularly known as deflation. Learn what deflation is, what causes it, and its effects on the economy.