Give one economic reason why nations fail.
Why was Thomas Malthus wrong?
What is the societal cost of adopting the Phillips Curve?
What is the economic curve that illustrates inherited
wealth?
In terms of the gold standard, why was Fort Knox
necessary?
Acemoglu and Robinson, in their book entitled, “Why Nations
Fail,” categorize institutions into two types: those that are
‘inclusive’ and those that are ‘extractive’
What are the major characteristics of these two types of
institutions?
Why are institutions important for long run economic
development?
Why are institutions ‘persistent’?
Is economic growth possible under extractive institutions?
Why did the Federal Reserve fail to act as a lender of last
resort during the Great Depression, and why did the Fed allow the
money supply to contract and prices to fall by so much?