Learn Economics for Free in the Most Effective Way

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Economics is a large field filled with nuance – and assumptions. One of those assumptions is that environmental concerns and inequality are secondary to that of economic concerns. These assumptions are questioned in a new course prepared by an international team of economists called the core team. Their work is available for anybody around the world to download and use for free, unlike traditional economic textbooks. You can check it out at The Economy.

Traditional, wallet-busting introductory textbooks do cover topics like pollution, rising inequality, and speculative busts. But in many cases this material comes after lengthy explanations of more traditional topics: supply-and-demand curves, consumer preferences, the theory of the firm, gains from trade, and the efficiency properties of atomized, competitive markets. In his highly popular “Principles of Economics,” Harvard’s N. Gregory Mankiw begins by listing a set of ten basic principles, which include “Rational people think at the margin,” “Trade can make everybody better off,” and “Markets are usually a good way to organize economic activity.”

The core approach isn’t particularly radical. (Students looking for expositions of Marxian economics or Modern Monetary Theory will have to look elsewhere.) But it treats perfectly competitive markets as special cases rather than the norm, trying to incorporate from the very beginning the progress economists have made during the past forty years or so in analyzing more complex situations: when firms have some monopoly power; people aren’t fully rational; a lot of key information is privately held; and the gains generated by trade, innovation, and finance are distributed very unevenly. The core curriculum also takes economic history seriously.

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Trans Fats Ban in Canada Starting in 2018

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Trans fats are really bad for you and governments around the world are starting to ban them. Canada just announced that they too will be banning trans fats alongside the United States next year. The ban is expected to improve the health of the nation, the Heart & Stroke foundation claims that 12,000 heart attacks will be prevented in the next 20 years thanks to the ban.

Eat well everyone!

The oils are the main source of trans fats in foods that raise levels of low-density lipoprotein (LDL), or “bad” cholesterol and lower “good” cholesterol, which can take a toll on our heart health.


It will apply to all foods sold in the country, including imported products and foods prepared and served in restaurants and food service establishments.

Heart & Stroke said it will reduce the number of heart attacks in Canada and save lives.

Heart & Stroke co-chaired a task force with Health Canada in 2006 that first recommended the ban.

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Helping Addicted Loved Ones

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The opioid crisis in North America damages countless lives every year, and we may be making it worse in the way we talk about addiction. FiveThirtyEight decided to look into the best ways of helping addicts using a scientific approach, they conclude that love and compassion is the best approach. Addiction is a problem for addicts and there communities, which ultimately means that the way we help addicts impacts our communities at large. If somebody you know is suffering from addiction reach out and ask them what you can do to help.

Addicts need love and support not condemnation and rejection.

“The pure tough love approach does not seem particularly effective and is sometimes quite cruel and potentially counterproductive,” Compton said.

Research on a compassionate, supportive alternative, known as Community Reinforcement and Family Therapy, finds that it is at least twice as effective at getting people into treatment, when compared with the traditional type of intervention or with 12-step programs like Al-Anon for family members. In CRAFT, family members are taught how to reduce conflict and positively motivate addicted loved ones to begin and sustain recovery. Both parties are also taught self-care skills and ways to help avoid relapse. CRAFT’s technique has none of the risks of cutting a family member out of your lif

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Capitalism Will End, Celebrate What Comes Next

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The damage that wealthy bankers did to the economy back in 2007/08 is still with us, and that has led to a whole generation questioning the validity of modern hyper-capitalism. That same germination witness ongoing environmental destruction and the erosion of labour rights (amongst a litany of other ills) all for the goal of getting more profit. The rejection of the prevailing thought has caused a few people to be scared of the change to come.

Don’t be afraid of the future, embrace it. Be part of what you want to see come true by examining what’s to come through exploration of what already is.

Fortunately, there is already a wealth of language and ideas out there that stretch well beyond these dusty old binaries. They are driven by a hugely diverse community of thinkers, innovators, and practitioners. There are organizations like the P2P (Peer to Peer) Foundation, Evonomics, The Next System Project, and the Institute for New Economic Thinking reimagining the global economy. The proposed models are even more varied: from complexity, to post-growth, de-growth, land-based, regenerative, circular, and even the deliciously named donut economics.

Then, there are the many communities of practice, from the Zapatistas in Mexico to the barter economies of Detroit, from the global Transition Network, to Bhutan, with its Gross National Happiness index. There are even serious economists and writers, from Jeremy Rifkin to David Fleming to Paul Mason, making a spirited case that the evolution beyond capitalism is well underway and unstoppable, thanks to already active ecological feedback loops and/or the arrival of the near zero-marginal cost products and services.This list barely scratches the surface.

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International Leaders of Geothermal Energy Agree to Work Together

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Geothermal energy is very simple in principal: drill a hole into the hot earth and use the naturally occurring heat to get turbines spinning. In practice it can be very hard. To bridge the practical difficulties getting geothermal around the world running leaders behind the technology are gathered in Florence to discuss ways to accelerate adoption. They are in the process of creating a framework to share knowledge and expertise to ensure that this form of renewable energy gets used in more places.

From their press release:

Minister of Environment, Mr. Gian Luca Galletti stated: “Italy considers the Paris Agreement to be irreversible and non-negotiable and therefore strives to promote geothermal and other renewable energy sources as a vital component for the planet’s sustainable development.”

“Geothermal’s vast potential is currently untapped,” he continued. “We must develop new technologies and encourage new investments to ensure we cover this gap. The Alliance will multiply its efforts to guide this process, and Italy will provide its contribution with its long experience and know-how.”

Ms. Teresa Bellanova, Italy’s Vice Minister of Economy and Development, said: “Geothermal energy’s consistent and continuous availability make it a highly precious source of renewable energy both in Italy and many countries all over the world. Through our knowledge of the industry, Italy can play an important role in achieving the ambitions of the Paris Agreement, in addition to stimulating sustainable job creation.”

Director General of IRENA, Mr. Adnan. Z. Amin, said: “This meeting has, without question, allowed both the policy and industry communities to identify common ground in the pursuit of what is a renewable energy source with tremendous potential.

“If we can identify and implement mechanisms that deliver a greater level of certainty to investors and developers, then we will move beyond meaningful dialogue to decisive action that accelerates geothermal production,” continued Mr. Amin, “contributing significantly to decarbonisation of the global economy, whilst creating jobs and supporting growth around the world.”

For more context go here.