Purchasing power is the amount of goods and services that consumers can purchase, with a unit of currency in one market relative to another. A dollar goes further in Philadelphia than it does in New York, because Philadelphians enjoy greater purchasing power than New Yorkers do.
- Inside the Macroeconomic Mindset
- Inflation: What It Is, Where It Comes From and How It Can Bite YouThe troubled economy that began at the end of 2007 continues to have what economists call a long tail of uncertainty. Fueling that uncertainty is the fear of inflation -- an increase in the level of prices we pay for all types of goods and services. Teen economists help demystify the inflation equation and how it really affects what we spend.
- Economic News from Davos, Switzerland: How Much Does that Big Mac Cost?It was a week of big economic news. Delegates had a lot to talk about at the 2015 World Economic Forum (WEF) in Davos, Switzerland — everything from a weakening global economy to the cost of a value meal at the local McDonald’s. It turns out that Switzerland is an economic case study for lots of reasons, including having an expensive Big Mac. A look inside The Economist's burgernomics.
- Paying for College: Why the Money Issue Is a 'Big, Big Deal'
- The ‘Green’ Path from Corporate Social Responsibility to Brighter Earth DaysAs we celebrate our planet on Earth Day 2015, we also take a closer look at the connection between business and the environment. With the help of some smart teen environmentalists, Wharton Global Youth explores corporate social responsibility and why businesses are “morally responsible to replenish and sustain the sources that provide foundations for their economic success.”