Psychology & Psychiatry

The lottery: You're (very likely) not going to win, so why play?

Sixty years ago last week, New Hampshire became the first U.S. state to allow a government-run lottery following a nationwide ban of lotteries in 1895. Why did Americans grow to disfavor the lottery then? Moreover, considering ...

Health

Economic hard times make Swedes cut back on drinking

A slumping economy gave Swedes less to cheer about last year as alcohol consumption fell the most in nearly a decade in the Nordic country, excluding the 2020 pandemic, research showed Friday.

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Economy

An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area. An economy may also be described as a spatially limited and social network where goods and services are exchanged according to demand and supply between participants by barter or a medium of exchange with a credit or debit value accepted within the network.

A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

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