Monday, 28 January 2013

How to win the lottery (the right one)

Admit it, we all like to take chances, and gamble sometimes - and governments around the world have always been aware of this. The first recorded lottery slips, from the time of the 2th century BC Han Dynasty, were found in China, and they were reportedly used to finance the Great Wall. However, sometimes governments miscalculate - and that's when fortune-seeking economists come to the picture. How can the system be defeated? And who invented how to beat the system? Read below.

Wednesday, 16 January 2013

The forgotten causes of the Rwandan genocide

In April 1994, the assassination of the Rwandan president (and dictator) lead to one of the most vicious outbreaks of human violence. Over the course of just 100 days, members of the majority Hutu ethnicity killed between 500,000 and 1,000,000 members mostly of the Tutsi minority, before a Tutsi militia took control of the country in early June - in turn forcing millions of Hutus to seek shelter abroad from retaliation. What lead to this vicious ethnic cleansing? Were it only the underlying ethnic conflicts - or were there economic factors in the background?


Monday, 14 January 2013

The platinum coin controversy

The hottest economic topic in the first days of 2013 - or at least, in America - undoubtedly has to be the fiscal cliff and it's aftereffects. And while the terms like fiscal cliff, debt consolidation and austerity might sound like yet another round of obscure financial gibberish, one of the solutions proposed as the solution of America's mounting public finance crisis is certainly more interesting. How could a 1,000,000,000,000 dollar platinum coin be the solution? And what is the problem in the first place?

Add 10 zeros. Source: Wikimedia