Adam Smith’s 'The Wealth of Nations' introduced concepts like division of labor, productivity, and free markets

250 years of world trade history

Adam Smith’s revolutionary ideas about free trade were often ignored throughout American history to protect domestic industry—until World War II caused a shift in sentiment about global trade.

Why some nations reach economic success and others don’t

The 2024 Nobel Prize in Economics winners, Daron Acemoglu, Simon Johnson, and James A. Robinson, were honored for their compelling research on the factors that influence a nation’s prosperity. Spanning two decades, their work presents insights into how societal organization can explain the income discrepancies between different countries. In general, their research shows that economic success favors more free and open societies. Listen for more fascinating insights.

Financial advice from America’s founding fathers

Several of America's founding fathers—Benjamin Franklin, Thomas Jefferson, and Alexander Hamilton—espoused various financial platitudes during their lives. According to the financial publication Kiplinger, much of their advice holds up in modern times. This article rounds up a few wise words from the founding fathers (and even one first lady) about compound interest, taxes, and education. For money-management tips from America's early days, click here.

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.

British colonialism left economic institutions that still shape growth today

This analysis argues that while the British Empire inflicted exploitation and long-term harm, it also exported institutions—like standardized property rights and land surveying—that boosted economic development in some colonies.

Dow Theory laid the groundwork for modern market analysis

Developed by Charles Dow in the late 19th century, Dow Theory argued that markets move in trends. Its principles—confirmation, trends and volume—still influence technical analysis today.

The Articles of Confederation were the first governing documents of the United States

Drafted in 1777 and ratified in 1781, the articles created a weak national government without the ability to tax or regulate commerce. This led to problems for the new nation, necessitating the Constitutional Convention in 1787.

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.

How ancient Romans invested and worked

The first stock exchange didn't open for business until the early 1600s, but that didn't stop the Ancient Romans from working and investing their money centuries before. While Romans are better known for their political inventions than their economic ones, understanding how they viewed money can help paint a better picture of the Roman mindset that created systems like democracy. Read this article to learn more.

Read how Fordism helped invent the American middle class

Henry Ford's revolution of the assembly line and American manufacturing as a whole gave rise to the American middle class. The introduction of the $5 workday (in exchange for eight-hour days of highly repetitive work) raised factory workers' wages enough to reorient the economy around consumer demand.

Enlightenment ideals of reason informed the foundation of the Revolution

From the 17th to 19th centuries, an intellectual movement took place in Europe and its colonies that emphasized reason over authority. Following the Scientific Revolution, thinkers like Descartes, Kant, and Locke sought to explain the world in rational—rather than religious—terms. The movement caused a paradigm shift in how societies are organized and how people perceive themselves.

'Monopoly' was a progressive economic thought experiment before it was a board game

Before "Monopoly" became a best-selling board game, a woman named Lizzie Magie patented "The Landlord's Game" as a thought experiment to advance American economist Henry George's ideas about land ownership.

'Dystopia,' explained

John Stuart Mill introduced the term "dystopia" in 1868 to critique harmful policies, calling it the opposite of utopia, or an ideal world. The concept grew as industrialization and totalitarian regimes exposed societal flaws, inspiring works like George Orwell's "1984" to warn against oppression and moral decay.

'The Firm' is a book about the influence of top consulting firm McKinsey

The author argues that consulting firms are so valuable to the companies that hire them because the clients don’t have to take the blame for any changes the consulting firm decides to make within the organization.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

The WEF’s ‘Davos Manifesto’ is a set of guiding principles for the event

In 2020, these principles were updated for the first time in more than 40 years to include “stakeholder capitalism,” the idea that a company’s purpose is “to engage all its stakeholders in shared and sustained value creation.”

The 1819 novel 'Ivanhoe' popularized the word 'freelancing'

In the novel, the author wrote about “free-lances:” mercenary soldiers who were “free” to use their weapons (called, yes, “lances”) in service of whoever paid them the most. A video details that story and other gig economy basics.

The commerce clause gives the federal government authority to regulate interstate economic activity

This short constitutional provision has allowed Congress to regulate everything from wheat production to racial segregation, greatly expanding federal power by linking national authority to interstate economic activity.

A work-free retirement is a relatively recent development in human history

Though it looks different in other countries, economic historians trace retirement's rise in the US to a growth in personal income through pensions, GDP, and Social Security.

Supreme Court Justice Louis Brandeis once called states 'laboratories of democracy'

Louis Brandeis argued that federalism allows states to experiment with new policies without committing the entire nation, thereby allowing successful ideas to spread while limiting the risks of failure.

Labor unions, explained

The weekend is one of many benefits shaped by labor unions. These organizations, representing millions of workers, have influenced much of modern work life, from wages to safety standards. With roots stretching back to the 18th century, unions have long been at the center of change in labor rights.

Hear how the Black Death reshaped Europe's economy

The Black Death killed tens of millions across Europe, but the labor shortages that followed shifted economic power. With fewer workers available, survivors demanded higher wages and better conditions—sparking what historians call a medieval “Golden Age of Labor.”

Read the works of Charles Dickens

Dickens' work has long been in the public domain, meaning it's freely available to readers. Project Gutenberg's collection of Dickens' novels allows you to read classic novels like "Oliver Twist" and "A Tale of Two Cities," as well as early works like "Sketches by Boz," at no cost.

Jonathan Swift's 'A Modest Proposal' was a satirical call for the poor to eat babies

Written in 1729, the critique shed light on the land policies implemented by the British and supported by the Irish elite that were aggravating Irish poverty. Specifically, public lands used for grazing were being made private via "enclosure." Swift's famous proposal for the poor to eat their own young is one of the most famous examples of satire.

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.

John Steinbeck's philosophical ideas, which he often explored in his novels, wrestled with the role of the individual and the power of community.

How John D. Rockefeller became the world's first billionaire

From a young age, John D. Rockefeller knew he was interested in business. He worked as a bookkeeper and sold candy prior to starting the business empire that would help cement the Rockefeller name in history: Standard Oil.

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.'

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 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.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

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

The first robot in literature may have been a 'mechanical man' in 1907's 'Ozma of Oz,' a book in L Frank Baum's 'Wizard of Oz' series.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

'Grand Canyon of the Yellowstone,' a work by American painter Thomas Moran, inspired Congress to establish Yellowstone National Park.

Explore a list of the 100 best novels of all time, compiled by some of the world's best living writers, including Salman Rushdie, Stephen King, and Jennifer Egan.

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.

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

The concept of phantom limbs, the perception that amputated limbs are still present, dates back to a French military surgeon in the 16th century.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

During the French Revolution, a botanist's letter asking about "dear Rhus" (poison ivy) was intercepted, leading authorities to suspect he was conspiring with the Russians.

How the most famous Ebola book, The Hot Zone, which sold 3.5 million copies and was translated into 30 languages, got aspects of the disease so wrong.

One disco producer saw 'Star Wars' four times on its opening weekend and was so inspired that he recorded the album 'Star Wars and Other Intergalactic Funk,' which produced a chart-topping single.

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.

Explore the history, structure, and species of Australia's Great Barrier Reef with this interactive journey narrated by Sir David Attenborough.