Economics

#97 What are mail fraud and wire fraud?

January 8, 2022

I learned this today. Wire fraud and mail fraud are federal crimes in the United States that concern transferring something connected to fraud by mail, email, phone, radio, or television. To be guilty of wire fraud, somebody must have “voluntarily and intentionally devised or participated in a scheme to defraud another out of money” and […]

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#85 When did people start using money?

December 27, 2021

The first ever money was the Mesopotamian shekel, used about 5,000 years ago. Before we had money, people used the bartering system. Bartering probably started when hunter-gatherers began to form larger groups. When hunter-gatherers were in small groups, they could service all of their own needs. They only needed food, clothing, and shelter. Once the

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