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Pre-colonial African Economics: Examining Chinua Achebe's "Things Fall Apart"

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New parents are often told that they need to give their children the freedom to make mistakes. It is said that a young human learns best by adapting to their own mistakes and the stimuli of their environment, not by the hand of an overprotective parent. Contemporary economies very closely parallel this concept. Innovation tends to come as a result of an openly operating free market – governed by the laws of supply and demand – and not a command economy that has been strangled by authority. Throughout the novel Things Fall Apart , the author, Chinua Achebe, is trying to get the point across that pre-colonial African civilizations have been handed a Western bias that squishes an entire continent into a single story; and so, through his literary work, he develops a refurbished image that allows the complexities of African culture to shine through. In specific, he examines the culture of a cluster of villages in 19th century Nigeria. Although it may not be the main focus of his writing, th...
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Microchip Tech War

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      Starting in 2022, and growing ever since, tensions between the US and China dominate the microchip industry. The US is ultimately worried about China's economic power growing representing a stepping stone towards a more dominant Chinese (PLA) military. Aside from economic development, China plans to further benefit off of chips, specifically in the realm of AI, in order to autonomize their military devices.      Although China has optimistic plans for the use of microchips in various sectors, as of late 2023, they were not yet able to produce the most advanced semiconductors that power AI. That is why they relied heavily on imports to acquire advanced chips. The measures by the US government that have been highlighted in the news are mainly focused on cutting off the exports to China, in order to indirectly limit their military and economic capabilities. In October of 2022, the Biden administration implemented a wide set of export controls that limite...
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Philosophy in Business

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      Stoicism is a philosophical ideology that can be traced all the way back to Ancient Greece and Rome. It is a school of thought that inhabits many ideas, but the general theme is that we must not be deterred by external factors. Stoics believe that achieving tranquility is done by ceasing to worry about circumstances out of their control. Succumbing to external circumstances is inevitably unproductive.      These broad and deeply philosophical ideals of the Stoics can be applied to business practices in a very practical sense. Stoics practice turning obstacles into opportunities, and this is something that is crucial for successful entrepreneurs. And at its core, stoic ideals are the perfect model for a quality leader: virtue, character, compassion.      Rationality and perspective are also often very important for successful business-people. Being aware of your circumstances allows you to make rational decisions from a position of leade...
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Deficit Spending

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      The United States government is currently over $33 trillion in debt. This gross federal debt is primarily due to the occurrence of continuous deficit spending.  The budget deficit is the difference between the money the federal government takes in, called receipts, and what it spends, called outlays each year. The U.S. government has run a multibillion-dollar deficit almost every year in modern history, spending much more than it takes in.      The federal deficit spending is expected to continue rising long-term, as the Congressional Budget Office has increased spending for welfare programs like social security. However, a deficit is not necessarily a bad thing. In fact, many economists believe that deficit spending is beneficial as long as the debt-to-GDP ratio remains under 77%. A deficit can be positive because the government expenditures put money into the pockets of people and into businesses that will grow our economy.     H...
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Economic Effects of New Sixers Stadium

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     Currently the Philadelphia Seventy Sixers are aiming to plop a new stadium right in the heart of central city. This is a stark contrast to the previous situation of Philadelphia sports stadiums all being far from the bustling streets of the city, so understandably they have seen some serious opposition.       A specific community that will be greatly affected by this stadium placement is Philadelphia’s Chinatown. Along with many other neighborhoods in close proximity, they are concerned that the stadium would cause rents for homes and businesses to rise, which would drive locals out of the area. These concerns are quite justified, as although the new stadium would bring spending and consumers to the area, costs would be driven up disproportionally.       Facing an economic decline that followed the Covid-19 pandemic, many other Philadelphians are supportive of the plan, as it will be sure to usher in economic growth that will b...
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Economic Issues Facing the Fintech Industry

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       In recent history there was a tremendous surge in investment towards the fintech industry. Not all of this investment was justified and it contributed to an overallocation of resources and inevitable inflation. The reason that fintech startups could generate so much hype was due to their constant innovation and the importance of finance in general. Especially during the pandemic, fintech became very popular as there was an increase in online shopping and payments. Even though there is a lot of potential for these fintech startups, they often receive too much investment due to their potential. This unjustified demand for fintech firms coincided with an increase in global inflation. In the long run, to balance out, unemployment will rise due to the inverse relationship between inflation and unemployment. We can directly see this happening through things like layoffs and decreased production of fintech firms. Another viewpoint on this issue is the idea that the f...
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Florida Immigration Laws

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     The governor of Florida, Ron DeSantis, recently implemented new laws around immigration. These laws were put in place in order to restrict immigration and have more background checks on immigrants currently living and working in America. This issue has gotten significant backlash for two main reasons. First off, people believe that the immigrants deserve to be here even if they may not have the proper documents. This is because they essentially live as Florida citizens and have built communities and families here. The other issue with the law is that there will almost definitely be economic consequences. The restriction of immigration will cause a drastic decrease in the labor supply. This will ultimately lower production and hurt the economy as a whole. However, there is a contrasting idea that individual Americans may actually benefit from an economic standpoint. This is because the decrease in immigration will open more opportunities for those already living in Am...
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