First try: Bicentennial celebration

[Please note that all events and persons mentioned below are fictional and any resemblance to reality is coincidental]

Welcome to the bicentennial anniversary of the first European workers' strike, which occurred right here in 1836. in the morning, you will hear a lecture on how Marxist thinking influenced early revolutionary proletarian movements across Europe. Then in the afternoon, you will be lavished with delicate pastries including Hors d' oeuvres and Croissants, authentic food from the revolutionary era, which will be for sale at 4 pounds /gram. If you have insufficient funds to purchase anything, or simply don't think it worthwhile, you may proceed to the art exhibit, where paintings, sculptures, and delicate handcraft depict the scenes from the strike. The prominent leaders of the strike including well-known activists of the age including Carl Max and Hindenburg, further elevating the strike's historical significance.

If you are unfamiliar with or curious about the history surrounding the first unions and strikes, you can pay for a guided tour of the exhibits for a pretax fee of 30 pounds per person

Present-day leftist thinking is much more diverse than in theepoch of Marx and Lenin. Left-wing coalitions have been prevalent in South America while in China the government has incorporated state capitalism with its brand of socialism through its Reform and Opening up reforms. Western traditional democracies, such as the united states and the united kingdom have also experienced left-wing rule. The white house, currently occupied by a Democratic president has pushed through major leftist agendas with their majority in the house and senate such as the IRA( Inflation Reduction Act) the big infrastructure bill, and increased taxes for the well-off. The core of leftist thinking has not changed, higher taxes, more government intervention in the economy, and an ever-larger welfare state. However, the trend of internationalism that flourished in that era has seized to exist. A new great divide is forming and globalization is on the retreat. Meanwhile, the rightwing government hasn't been fairing so well either. The pound had even reached parity with the dollar under the former British prime minister who left office recently before returning to near-normal, making many in London doubt the effectiveness of conservative economic policy and enhancing the odds of a Labor electoral victory in the next General Election

Supply and Demand: A New Prospective

To most people, economics is an abstruse subject that touches little upon their lives. However, at its core, economics is a social science that derives all its complicated models and formulas from an examination of real-life actions by common people. Below I have compiled several instances where classic economic principles are implicated.

Marginal Utility

Have you ever wondered why a one-liter bottle of water only sells for 3 yuan when a 500 mL bottle sets you back 2 yuan? Well, there's simple economic reasoning behind it. The key word here is marginal utility--which can be roughly defined as your craving for the next unit of a good or service. An important property of marginal utility is that is constantly decreasing. In this example, your desire to have one more liter of water decreases as you have more of it. In economics, it is assumed that more is better so even though your desire is diminished, you still want more of whatever it is though you wouldn't want it as much.

Thus you would still want to pay more for more water but not as much money as you would for the first 500mL.To fully capitalize on your desire for water, companies price their products along the consumer's utility curve.

Opportunity Cost

Another elemental principle of economics is that the actual cost of something is what you give up for it.Let me give you a for-instance. Say you enjoy doing homework, and you're having trouble deciding which subject's homework to overdo first. What you should contemplate is not what you would gain from doing one piece of homework but what you would lose. So next time your thinking of doing politics homework, remember to take into account what you could have gained by doing math or physics. So this newspaper’s advice to you is that don’t ever do politics homework because the opportunity far outweighs the benefit.

Inflation

There is a myriad of theories involving why and how inflation materializes. However, I'm not here to bore you with a boring lecture on money supply and M2 circulation. So allow me to present you with an example from our everyday student life.I feel sorry for the people who had to copy the questions from our most recent math quiz but pitty aside, I was also intrigued to hear that the number of times they have to copy lines for has doubled since the last punishment was instituted. Why was that I wondered. And here, I wish to offer a version of an explanation that I came up with. My theory is that with time, the value of your copying the questions one time has decreased. And the supply of time you can allocate to producing copies has increased in effect making one worth less in its opportunity cost. Inflation is fueled by an oversized money supply and aggregate demand which is implicated here.

Thank you for reading the first article in this week's edition of 'Ganilaij'sGazette'.