The World's Best Book Summaries
Why does the traditional mass marketing strategy fail? What strategies should companies use instead of traditional mass marketing? There are three major reasons why the traditional mass marketing strategy is failing. The obvious targets are gone, consumers will ignore you, and people who are happy with what they have aren’t looking for new products or services. Keep reading to learn why the mass marketing strategy no longer works in today’s society.
What are the different types of monopolies? How can you recognize these different types of monopolies? According to Milton Friedman, there are three types of monopolies: regulated, unregulated, and public. All of these types are harmful to economic development in different ways. Read more about the different types of monopolies and how they work.
What are commodity standards? Is this system valuable for economic development? Commodity standards refer to economic systems where the country’s financial reserve is held in commodities, like gold. The amount in the reserve is tied to the value of the commodity. Read more about commodity standards and how they effect economies.
What is the racial wealth gap? How does the denial of the racial wealth gap inform the beliefs of conservatives and the Tea Party? There is statistical evidence to suggest the existence of the racial wealth gap. However, Tea Party conservatives cite wealthy Black celebrities as evidence that there is no black wealth gap and falsely claim that Black people are getting ahead while whites are losing their status. Read more about the racial wealth gap and what it means for conservative politics.
What does Milton Friedman say on taxes? How does Friedman suggest taxes should work? According to Milton Friedman, taxes should be at a flat rate. He argues against a progressive income tax and indicated that a flat tax would reduce deductions and close loopholes. Read more about Milton Friedman, taxes, and changing the system.
How does the central bank control money supply? Why does the central bank control money? When considering how to economy works, many people ask “how does the central bank control money supply?” Most countries have some sort of federal reserve that ensures banks have liquid capital and manage how they conduct business. Keep reading to answer the question “how does the central bank control money supply?”
What’s the connection between capitalism and inequality? Can capitalism help put a stop to discrimination? Capitalism and inequality are often cited as going hand in hand as leading to discrimination. But Read more about capitalism, inequality, and how Milton Friedman believes the free market can help stop discrimination.
What is the Milton Friedman negative income tax idea? How would negative income tax work? Milton Friedman’s tax theories also include a negative income tax. This would allow direct payments to be paid to people below a certain income as opposed to having them pay taxes, which would help alleviate poverty. Read more about Milton Friedman, negative income tax, and what it means.
What is the federal reserve monetary policy? How does the federal reserve set the policy? The federal reserve monetary policy guides the economy in many ways. The Fed is also supposed to keep currency and the economy stable in times of crisis. Read more about the federal reserve, monetary policy, and more.
What is the Bretton Woods system? How does is it work and it is effective? The Bretton Woods system was a system of foreign currency exchange where other nations values their currency against the United States’ gold standard. This placed restrictions on currency and exchange. Read more about the Bretton Woods system and how it works.