Economics

#564 What is the Jevons Paradox?

What is the Jevons Paradox? It is that improvements in efficiency of a machine increase the overall consumption of energy by making the machine cheaper and more efficient. The paradox is named after William Stanley Jevons who was an English economist and logician. He lived from 1835 to 1882, unfortunately drowning while bathing at the

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#327 What is a central bank?

What is a central bank? It is an institution that manages the currency of a country and controls the supply of money. Nearly every country has a central bank. It is sometimes called a reserve bank. There are nine countries that don’t have one. They are Andorra, Isle of Man, Kiribati, Marshall Islands, Micronesia, Monaco,

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