Microeconomics Behaviour

McKinsey earns billions advising almost every major corporation as well as countless governments, including Britain's, the USA's and China's. It boasts of its ability to maximise efficiency while making the world a better place. Its millionaire partners and network of alumni go on to top jobs in the world's most powerful organisations. And yet, shielded by non-disclosure agreements, its work remains largely secret—until now. In this propulsive investigation, two prize-winning journalists reveal the reality.

Every day, we make decisions on topics ranging from personal investments to schools for our children to the meals we eat to the causes we champion. Unfortunately, we often choose poorly. The reason, the authors explain, is that, being human, we are all susceptible to various biases that can lead us to blunder. Our mistakes can make us poor and unhealthy. We often make bad decisions about education, personal finance, health care, family, and the environment.

Our world is in a mess. The challenges of climate change, inequality, hunger and a global pandemic mean our way of life seems more imperilled and society more divided than ever; but economics can help! From parenting to organ donation, housing to anti-social behaviour, economics provides the tools we need to fix the biggest issues of today. Far from being a means to predict the stock market or enrich the elite, economics provides a lens through which we can better understand how things work.

Have you heard about the Metaverse? What exactly is the Metaverse? How can we make money with it? The Metaverse can broadly be described as an online virtual environment where users can interact with the computing environment and other users. Metaverse is ever-expanding and is quickly moving on to other areas which will include things like cryptocurrencies, NFT’s, and other investments. Metaverse is the future! It’s planned to be the next big thing in Crypto, in fact, many leaders claim it's going to be the next stage of the internet.

According to futurists Rolf Jensen and Mika Aaltonen, we are currently "between dreams". We've managed to achieve many of our material goals, only to face ever-growing global competition in an ever-slowing economy. Here's the good news: With the rise of social media and online resources, consumers are growing more powerful. Individuals are exploring more options. And smart businesses are discovering more ways to appeal to this powerful new community. Welcome to The Renaissance Society.