https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/ Recent content in Overcirculation on Superphysics Hugo en Wed, 01 Dec 2021 00:00:00 +0000 https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/unit-02/ Wed, 26 Apr 2017 00:00:00 +0000 https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/unit-02/ <p>Universal Basic Income (UBI) became popular in 2016 after it was adopted by a few Western countries.</p> <p>In UBI, money is given to poor people without any strings attached. This makes it a bit different from Conditional Cash Transfers (CCT) which imposes conditions that the poor must meet.</p> https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/unit-03/ Wed, 01 Dec 2021 00:00:00 +0000 https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/unit-03/ <p>The dominance of mercantilism and the rule of money in Europe led to the corruption of the Political Economy through the creation of microeconomics.</p> <p>Political Economy had the interests of the whole society in mind. Microecnomics only had the interests of the businesses and investors.</p> https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/unit-04/ Wed, 01 Dec 2021 00:00:00 +0000 https://www.superphysics.org/social/economics/principles/part-4/chapter-09/section-03/unit-04/ <p>The mercantile system enshrines money as wealth. This is opposite of the traditional political economy which based wealth of actual goods and services in society. The value of these goods were properly pegged to grains.</p>