The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors. The Marshall Island is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for...
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There were many debates and publications over the lack of efficient quantitative macroeconomic modeling in a period from 1970 to 1990. Famous economists Jordi Gali and Mark Gehtler in their papers try to analyze the reasons relating to the failure of current macroeconomic models of monetary policy and progress the framework for new models. The main indicator of unsuccessful modeling...
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Introduction The past two centuries have been characterized by vast technological advances that have had a significant effect on man and his environment. One of these advances has been in the form of increased industrialization by man. Industrialization has resulted in detrimental practices such as deforestation, air and water pollution which have all threatened the fragile balance that exists between...
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Capitalism and socialism are somewhat opposing schools of thought in economics. The central arguments in the socialism/capitalism debate are about economic equality and the role of government: socialists believe economic inequality is bad for society and the government is responsible for reducing it via programs that benefit the poor. e.g. free public education, free or subsidized healthcare, social security for...
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The coronavirus pandemic has already resulted in some major changes to our lives, from the introduction of mask wearing and social distancing to a reassessment of office culture. And it’s also resulted in discussions around, and calls for, a universal basic income. In the UK, the government introduced a furlough scheme during the first pandemic; companies forced to close because...
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An economic problem or challenge occurs when a country fails to meet the needs or wants of its population with the scarce resources it has. It could be said that when an economy fails to meets its micro and macro-economic goals it creates an economic problem for them. Since 2007 the world has seen a setback economically and even the...
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Foreign Exchange is the process of conversion of one currency into another currency. For a country its currency becomes legal tender. For a foreign country it becomes the value as a commodity. Since the commodity has a value its relation with the other currency determines the exchange value of one currency with the other. For example, the US dollar in...
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Fair trade is trade in which fair prices are paid to producers in developing countries. It based on partnership between consumers and producers. Fair trade improves the lives of those living in developing countries by offering small scale producers fair trade relations and a guaranteed minimum price. There are over 1.5 million workers and 1210 fair trade certified producer organizations...
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On May 26, 2015, Bernie Sanders, one of the runner ups for presidential candidacy, holds his “kickoff” event in his hometown Burlington,Vermont. On that day, Sanders discusses the overall being of the American people and the economic problem that hovers over the nation today. The problem is the economic inequality among social classes in America, in which is making the...
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Estonia is a small but developed country, with a population of 1.3 million, located in Northern Europe. Its high-income economy is often referred to as the fastest growing in the EU. In addition to that, Estonian citizens obtain the free education and universal health care. On the international market, the country stands out for its I.T. advancements. In 2005, Estonia...
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“The game is rigged to work for those who already have money and power.” The celebrity world is driven by money, fame and power. The ones we look up to, our “role models” aren't playing by the same rules, or even the same game. They are teaching us that money and power protect you from justice and consequences. It is...
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The robotics revolution has started! Since robotics have been manufactured, the efficiency and productivity in working conditions are growing rapidly. They formed a huge leap in our lives as they became part of many workplaces. Moreover, they can implement a wide variety of tasks successfully in a record time compared to human performance. Also, they are playing a pivotal role...
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There are regular discussions about how money makes people happier, which is more of a philosophical question, and this discussion topic can be deciphered from several perspectives without yielding a winner in the end, because each contention from both sides will not be correct, but will be a well-considered opinion. The Notion Behind Happiness Is happiness a defining moment in...
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The COVID-19 pandemic has led to huge social and economic upheaval globally. In March 2020, the US 10-year breakeven rate (the market-implied average inflation rate over the next decade) reached 0.55%, when the world was peering into a deflationary abyss. Fast forward a little over a year, and investors have flipped from fears of persistent deflation, to fears of persistent...
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The European Project has always been more or less ambiguous about its objective. The famous Schuman Declaration of 9 May 1950, considered to be the guiding principle behind the European project, is without doubt the clearest of the founding texts. It assigned the six signatory states the objective of achieving, through the European Coal and Steel Community, “the setting up...
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Karl Marx is undoubtedly the most prominent and well-known figure in anti-capitalist literature. His most famous piece of work, ‘The Communist Manifesto’, goes into very close detail about the class struggle and the exploitation by the few of the many. This essay will go into detail about Marx’s characterization of the relationships between classes in capitalist society. By looking at...
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Part of the objective of Securities and Exchange Board of India is to hold requirements for truthful and orderly markets. In order to help gain this goal, the Securities and Exchange Board of India regulates a range of stock market participants. These encompass the following: Stock Exchange An inventory alternate is an organized market that brings all the investors or...
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In an interview with the Harvard Gazette, Zuboff defined surveillance capitalism as “the unilateral claiming of private human experience as free raw material for translation into behavioral data; these data are then computed and packaged as prediction products and sold into behavioral futures markets business customers with a commercial interest in knowing what we will do now, soon, and later”,...
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Compensation is an indispensable and widespread thing of the management procedure of each organization. Most corporations choose to fulfill their mission, gain their objectives and maximize return on their investment, especially on their human capital. Doing so requires that their compensation philosophy, design, transport and decisions be balanced, fair, focused, and understood by using their worker and plausible worker constituencies....
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Whether you like it or not, money is quintessential in this life. Unfortunately, no longer anybody is aware of how to deal with money. People would frequently combat when it comes to dealing with money. In the contemporary situation of the world economy, it is very important to reduce your prices and be capable to keep money. Money administration is...
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The coronavirus pandemic is the first time that all economies across the world have faced such a severe global challenge since the recovery from World War II, and it would be fair to say that the UK have been among the worst affected. In this report, I will investigate how the UK Competitions and Markets Authority (CMA) have adapted to...
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To begin with, the issue of fairness arises with companies’ attempt to gain an advantageous market position through the exploitation of consumers’ unalterable needs in an unusual market condition (Crane et al., 2019:375). Thus, the justification to exploitative pricing’s fairness is being debated with the following two ethical theories. Firstly, consequentialism determines morality and ethicality solely based on consequences (Robertson...
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The topic of exploitative pricing has been a long-standing theme irrespective of the world situation. However, due to the recent Covid-19 pandemic, the controversy of excessive pricing on unforeseen circumstances has become a central debate again. According to OECD (2020), attributable to the coronavirus, the business environment has been subjected to instability resulting in the disruption of supply chains. The...
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Capitalism as a self-destructing political, economic and social system is central to the understanding of Marx’s ideologies. By critiquing a structure that shapes the lives of many populations today, his work proves to still be extremely significant in offering an insight into capitalism and its implications. However, this assumption of capitalism inevitably self-destructing is one of which that is debated...
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In this essay I will begin by explaining psychological theories. Furthermore, I will evaluate how a care worker could use psychological theories to understand the behavior of an individual. Lastly, I will evaluate these psychological theories by looking at the strengths and weaknesses of each of them in regard to working with an individual. Erik Erikson and the Lifespan Theory...
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Rewards and compensation play a vital role in motivating employees and improving performance in organization. A cautiously designed reward and compensation system can significantly increase the performance of employees resulting in organization's effectiveness and productivity. With the changing scene in the world of work today, a multifaceted reward and compensation system is required to meet the demands of the employees....
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Zafar Iqbal and Ghulam Mustafa Zahid from the ‘Pakistan Development Review’ worked on the ‘Macroeconomic Determinants of Pakistan's Economic Growth’ in 1998. The study explores the effect on Pakistan's economic growth of some of the most significant microeconomic variables, such as education, physical growth and the budget deficit. A multiple regression method was used to analyze the period between 1959-60...
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'Money cannot buy true happiness'. Some people may say that this adage is no longer relevant because in this 21st century, we can’t live without money and without money, we won’t be happy. However, I strongly think, that this adage is indeed valid and relevant. In fact, the predominant reason I choose this topic is that it is food for...
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As the official currency used by the 27 member states of the European Union (EU), the euro is one of the main currencies traded by market participants and has an influence on global markets. Although it was launched since January 1, 1999, physically the euro was used on January 1, 2002. Since its introduction, only 19 member of European Union...
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Minimum wage is the compensation payable to laborers as fixed by law. Should the minimum wage be raised? I have mixed emotions regarding this topic. If minimum wage is raised, it would hurt most organizations, there would be fewer open positions. I think if the minimum wage were raised from $7.25 it would probably hurt public and private entities. Especially...
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