Gifts for economics fans
Know someone who loves economics? Pick their favourite topic for gift ideas, with a fact to share when they open it.
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Business
The term "business" originally referred to the state of being busy.
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Cost-Effective DIY
Repurposing old jars as storage containers is a highly cost-effective DIY project that reduces waste and adds a touch of rustic charm.
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Emerging Markets
Emerging markets account for a majority of the world's population, but a much smaller share of its global GDP.
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Equal Pay
The first federal equal pay law in the US, the Equal Pay Act of 1963, only covered jobs requiring "substantially equal" skill, effort, and responsibility, leaving room for loopholes and continued pay disparities.
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Gig Economy
The gig economy's name is derived from the jazz term "gig," referring to a single job or performance.
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Global Trade
The global trade in bananas is a surprisingly complex and politically charged affair, with various countries having significant influence on production, distribution, and pricing despite the fruit's seemingly simple nature.
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Globalization
The spread of K-pop globally is a significant example of globalization's impact on popular culture.
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Inflation
During the hyperinflation in Weimar Germany in the 1920s, it became cheaper to burn banknotes for heat than to use them to buy firewood.
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Microtransactions
The term "microtransaction" itself wasn't widely used until the rise of free-to-play games in the late 2000s, despite the concept existing in various forms (like arcade game tokens) for much longer.
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Poverty
Extreme poverty, defined as living on less than $1.90 a day, has fallen by more than half globally since 1990.
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Recession
Recessions aren't always caused by a single event; they can be the result of a complex interplay of factors, like decreased consumer confidence, high inflation, and tightening credit markets.
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Sharing Economy
The sharing economy's impact on traditional industries is a double-edged sword; while it disrupts some, it also creates new opportunities and jobs in areas like platform development and service provision.
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Tech Monopolies
The combined market capitalization of the five largest tech monopolies (Apple, Microsoft, Google, Amazon, and Meta) often surpasses the GDP of entire countries.
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Trade
The world's oldest known trade route is the Incense Route, used from around 3000 BCE to transport frankincense and myrrh from the Arabian Peninsula and East Africa.
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