Category: Economics

Psychology 101: The Stanford Prison Experiment

What happens when you put good people in an evil place? Does humanity win over evil, or does evil triumph? Philip Zimbardo, a psychologist and a professor at Stanford University posed the same exact question in 1971, thereby leading to what is known as The Stanford Prison Experiment (SPE). The experiment was originally created to uncover the truth about human nature, a more in-depth look on what our true ambitions were, what really drove us. Zimbardo began by choosing 24 volunteers, making 12 of them “guards” and the other 12 “prisoners”.  They were taken to a prison simulation, a fabricated illusion to make the volunteers feel as if they were actually in prison. He began by  giving the guards ultimate power and left the prisoners vulnerable. This evidently led to a distinction of power between the two groups. 45 years later, people still ponder the  question that drove the experiment to its end. Was this study ethically right?  The Stanford Prison Experiment was not ethically right, it stripped volunteers of emotion temporarily, forcing them to turn against each other and was physically harmful to the majority of the participants. 

History 101: The Banana is Dead, Long Live the Banana

Native to New Guinea, bananas prefer tropical climates and can be grown year round. In terms of produce, the biggest distinction is between bananas and plantains, both of which belong to the same genus (Musa) and come in a range of cultivars, or varieties. Bananas are generally eaten raw or as part of a dessert or baked good. Plantains are a staple crop, culinary distinct due to their higher starch content, predisposing them to being cooked and fried as part of meals or snacks.

Margaret Chase Smith’s Speech of a Lifetime

The American experiment was founded on the idea of a democracy where the people hold the ultimate power over the government. But when the government oversteps its power; when it threatens to endanger individual rights, it takes someone with true courage to stand up for the America public. Some of the most striking examples of blatant abuse of power in the last century occurred during the Cold War. From 1947 to 1991, the Capitalist United States (US) and the Communist Union of Soviet Socialist Republics (USSR) clashed in a series of escalating economic and political tensions. In the midst of this tumultuous period, US government officials became concerned that communist sympathizer would collude with Soviet spies and endanger national security. The most vocal advocate for the “Red Scare” was Republican Senator Joseph McCarthy of Wisconsin. McCarthy came under the national spotlight during his speech in Wheeling, West Virginia, when he claimed that 205 State Department employees were known communist infiltrators (Achter). Although he lacked definitive evidence to back his claim, McCarthy continued a long string of accusations against celebrities, politicians, and nearly anyone who disagreed with him. McCarthy’s campaign to “expose” communist infiltrators caused innocent Americans to lose their careers and reputations, and fueled McCarthy’s rise to power. This period of mass, unsubstantiated paranoia eventually became known as “McCarthyism” (Achter). Few dared to challenge him, for fear of becoming his next target; At least not until a woman by the name of Margaret Chase Smith stepped into the political fray.

The Rise of Tech: Tech Trends of the COVID-19 Pandemic

The recent COVID-19 pandemic has turned our world upside down. From the way we greet each other to the schedule of our daily routines, it’s safe to say that everything that was considered the norm at the beginning of 2020 has completely changed. While most people’s eyes are on health officials, tech giants and start-up companies have been using this time to create new inventions to propel society further – or so they say. Here we will analyze the new products and tech trends that have arisen in the wake of this pandemic, what they do, and if they actually serve to help society.

Macroeconomics: The Definition of GDP and Its Implications

GDP is the universal measure of income among different countries. We’ve heard of the term GDP multiple times, but what exactly is GDP, and how do we measure an entire country’s income? GDP, Gross Domestic Product, measures the total value of all final goods and services produced in the economy of a country during a given year. Important points that need special attention in the definition of GDP are ‘total,’ ‘final,’ ‘country,’ and ‘a given year.’