A centrally planned economy is one where the government—not markets—sets production

The Bretton Woods economic order was built on Keynesian principles

Keynesian economics suggests that governments should actively manage economies to prevent downturns, promote employment, and regulate markets. The Bretton Woods institutions were created based on this belief that coordinated public intervention could prevent the economic crises of the 1930s.

Understanding the differences between capitalism and socialism

The two economic systems are rarely found in their pure form. Capitalism emphasizes private property, capital accumulation, and limited government regulation, while socialism favors government control of production to meet the needs of everyone rather than to generate profit. Most economies are a mix of both.

An overview of monopolies, when one company controls an entire market

In the business world, a monopoly exists when one company controls the entire market. Regulators take issue with monopolies because they have been found to limit consumer choices, raise prices, and hurt competition.

What something costs is reflective of a balance in the market determined by the amount of demand relative to the supply of goods and services

Because economies are complex systems, a wide variety of issues influence this balance—including some things generally considered to be positive, like rising wages.

OPEC can roll out production cuts among its members to control oil’s global supply and price

The Organization of the Petroleum Exporting Countries (OPEC) was created to coordinate and unify petroleum policies to secure fair and stable prices. During the pandemic, for instance, the organization pushed through production cuts in an attempt to stabilize prices.

Governments have historically used counterfeiting for economic warfare

Inserting fake currency into an economy can help destabilize it. During the American Revolution, for instance, the British distributed counterfeit “Continental Dollars” in an effort to devalue the currency being used in the US at the time with the goal of undermining America’s growing financial credibility. The Nazis also ran an extensive counterfeiting scheme during WWII.

A gold standard is a system in which a country’s currency is pegged to, and can be converted into, a fixed amount of gold

In principle, this provides price stability as the amount of gold (and therefore the value of the currency) is limited, but also restricts the ability to modulate the money supply during economic downturns.

A list of the world's top 25 economies by GDP

Gross domestic product estimates the value of goods and services produced in a country, typically through the expenditure method, which adds up spending by consumers, investors and governments with the value of exports. The top five economies are the US, China, Germany, Japan and India.

Soviet control spread across Eastern Europe after WWII

In the late 1940s, the USSR solidified control over Eastern Europe by installing pro-communist regimes in countries like Poland, Hungary and Romania—often through rigged elections and political repression.

Raising interest rates can help control inflation

While controlling a complex and dynamic economy is difficult, interest rates—more specifically, the rate at which banks lend each other money overnight—are a powerful tool. Generally, raising the rate makes purchases more expensive and cools an overheated economy.

Learn how governments around the world restrict internet access for their citizens

Various countries around the world, including China, Russia, and Iran, control their local DNS infrastructure, allowing them to block access to online content by preventing the internet "phone book" from finding the IP addresses for specific URLs. Government-controlled internet service providers can also cut off access entirely or throttle specific traffic.

Feudal landholding organized medieval Europe’s economy without relying on slavery

From the 10th to 13th centuries, Europe’s agricultural system relied on localized hierarchies. Lords granted land to knights for defense, who in turn mainly oversaw free peasants paying rents in labor, goods, or money rather than living under slavery.

Political science professors say dystopias are defined by government coercion

Shauna Shames and Amy Atchison, two political science professors and the authors of "Survive and Resist: The Definitive Guide to Dystopian Politics,” argue that defining a real-world dystopia depends on whether a government is using coercion to protect its citizens or to control them. Shames and Atchison seek to provide a more nuanced understanding of the word “dystopia,” one they note they began hearing more and more as the COVID-19 pandemic progressed.

Embargoes and economic mismanagement have pushed Cuba into its worst crisis in decades

For more than 60 years, Cuba has been pressured by two forces—the US economic embargo and its own government's repression and mismanagement. NPR's Throughline podcast explains how both contributed to today's blackouts, food shortages, and mass exodus.

Lenin’s “dictatorship of the proletariat” meant power held by workers, not elites

Lenin argued that capitalism concentrated power in a small ruling class, and only transferring authority to industrial workers could eliminate exploitation and class hierarchy. This five-minute explainer outlines how he envisioned that revolutionary shift.

A trade war is an economic conflict where nations impose tariffs or other trade barriers on each other in retaliation for similar actions

The US-China trade war is one example. While they aim to protect domestic industries, they can lead to higher prices for consumers and strained international relations.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Cryptocurrencies are forms of digital currency

Cryptocurrency's key feature is decentralization. Unlike traditional money, they generally aren't controlled by a single authority. As of early 2025, cryptocurrencies had a cumulative market cap of almost $3.4T, making them worth more than some of the world's most valuable companies, like Google and Amazon (both valued at roughly $2.3T).

The Federal Reserve is the central bank of the US

No institution wields more power in US finance than the Federal Reserve—but opinion polls indicate that most Americans don't know what it does. Curious about the country's central bank? 1440's got your breakdown of how the Federal Reserve works.

Understanding how non-profit entities manage electric grids to ensure supply-demand balance

Independent System Operators in smaller areas and Regional Transmission Organizations that operate across multiple states run wholesale electricity markets. Electricity suppliers can submit competitive bids to meet estimated demand in day-ahead markets while keeping consumer costs low. ISOs and RCOs also inform markets of deviations in these estimates so that suppliers can adjust how much power they generate, which is then bought and sold in real time.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Wealthy, 'chaebol' families rule South Korea's economy

A handful of huge family-run conglomerates, or chaebol, are the engines of South Korea’s economy, with Samsung alone representing 20% of the country’s GDP. This gives the chaebol (literally “wealth group”) outsized power, often leading to corruption, labor violations, and anticompetitive practices. One economist interviewed in this Vice documentary says the chaebol have replaced Korean democracy with corporatocracy.

China has used several different calendars because of changes in government structure

For many centuries, during which China was an imperial nation, the lunar/lunisolar calendar (aka the “rural calendar”) was the basis for organizing the year. Several attempts were made over the decades to switch to the Gregorian calendar—which begins Jan. 1—but it wasn’t until the People’s Republic of China was founded in 1949 that it stuck.

The venture capital mindset is shaping the US into a 'portfolio state'

For decades, the US has operated as a low-regulation, private-sector-driven, globalized economy (also known as neoliberalism). In recent years, the Trump administration has taken direct stakes (rather than providing subsidies) in private companies with strategic products like semiconductors and rare earths. This paper argues the approach allows the US to capture the upside of growth.

Visualizing the global supply chain of medicine

The typical medicine we consume is the end result of a complex global supply chain involving highly specialized compartmentalization. Most medicine was made locally until open trade policies enabled global trade in the 1980s. This visual essay is...

Zoning laws determine what can be built—and where—in every American community

Local governments use zoning to regulate land use. About 75% of residentially zoned land in American cities is designated for single-family homes only—a restriction that some experts blame for increasing housing costs and reducing affordability.

Urban planning in ancient Rome

Ancient Rome represents one of the earliest examples of coordinated urban planning from a central government for which researchers have access to contemporary records. This review from MIT showcases ancient Roman cities built on various types of grids, from rectangular outlines to those shaped around two intersecting axes, with several examples and maps provided for each.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

Famed poet TS Eliot rejected the manuscript for George Orwell's political fable 'Animal Farm,' writing that its criticism of authoritarianism was not 'the right point of view.'

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Iran's Revolutionary Guard Corps is independent of Iran's regular army and is one of the most powerful and influential military-political organizations in the Middle East.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

Radioactive elements can introduce software errors because the ionizing radiation they produce can detach electrons from atoms, and computer code relies on the distribution of electrons.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

While the sun's gravity keeps the planets in orbit, their gravity also pulls on the sun, causing it and everything else in the solar system to orbit around a mutual balance point called the barycenter—the true center of the solar system.

Learn how monoclonal antibodies, which mimic the body's antibodies, can fight diseases like Ebola.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

The identity of the Tank Man in the iconic photo from the 1989 Tiananmen Square protests remains unknown and was possibly killed.

See how fireworks are made and learn how metals like magnesium and copper are responsible for different colors.

Before humans, the Soviet Union and the United States sent animals—including apes, dogs, and cats—to space during the Space Race.

The 1987 Nintendo video game 'Stadium Events' isn't known for being particularly fun, but its scarcity has made it a highly sought-after item that has sold for up to $35K at auction.