Banks are a riddle wrapped up in an enigma. We all kind of know that they do stuff with money we don’t understand, while the last crisis left a feeling of deep mistrust and confusion. Why were banks invented, how did they cause the last crisis, and are there alternatives? Kurzgesagt — In a Nutshell sheds light onto the banking system.
In classical economics, most models assume that consumers behave rationally. As you've probably noticed in your real life, in case after case, people don't actually make rational decisions. There can be emotional or social reasons for all this irrationality, and behavioral economics tries to address this. We'll talk about risk, nudge theory, prices and perception, and the ultimatum game.
Paycheck sticker shock. Anyone who's ever received a first paycheck remembers that feeling. Learn more about taxes, from the ancient Egyptians and Greeks to Europe's VAT tax. Find out where some of that money goes!
The value of money is determined by how much (or how little) of it is in circulation. But who makes that decision, and how does their choice affect the economy at large? This example is US-based but also applies to Canada