Economics

The Minimum Wage

In an attempt to foment equality, growth, and overall development, countries the world over have started instituting minimum wage laws. In principle, a minimum wage may be defined as the lowest legal wage that an employer may pay a worker. Conversely, it may also be defined as the lowest legal wage that a worker can […]

Economics

Two-Sided Markets

Two-sided markets are also known as two-sided networks are simply platforms of an economy that have two different user groups that supply one another with network benefits. Two-sided markets can be identified in several industries that share the space with products and services associated with the tradition. Such markets include credit cards that are composed […]

Economics

Current Economic Performance

This paper focuses on the present economic performance and competitiveness of Costa Rica as a country. The changes that the country has registered in its economy will be reviewed with reference to the GDP per capita and the GDP growth rate, inflation, and the unemployment levels in the country added to the social effects of […]

Economics

Precious stones and economic theories

How can it be that precious stones, sparkling and decent as a design explanation, are esteemed more exceptionally than water, an essential for managing life? Would it be able to be that water’s less-important employments of cleaning the auto or washing down the garage have a hosing impact on its quality? Economic analysts let us […]

Economics

Agency theory – the Principal-Agent Model

1.1 Behavioral Economics Many of the assumptions on which economic models and theories are based are often wrong when we critically look at them from the perspective of social sciences. Thinking about yourself, do you always make fully rational choices that are only self-interested? Are your preferences time-consistent? Most of you will answer no to […]

Economics

Global unemployment, forced labour, inequality

Hameed and Nazir (2014) argue that liberalization neutralises unemployment, citing Pakistan, as one of nations where trade liberalization has helped reduce job losses. Complementing the argument, Siddiqui and Kemal (2002) state that after liberalization, employment and production increased, generating demand for labour and imports. This dropped unemployment and reduced poverty, as economic and living standards […]

Economics

South African Economy

Introduction Economic growth is achieved by creating favourable conditions for it to occur. In 1994 there were great expectations of a dramatic turnaround in South Africa’s economic performance. It was expected that the removal of trade and financial sanctions will transform the country’s economic performance. Since 1994 we did see an improved growth performance in […]