The most important figure of the Slovak economy in the last 5 years has been the trend in unemployment. This rate had been decreasing since the first quarter of 2013 and had dropped to almost a half in the first quarter of 2018. The unemployment rate fell from more than 14% to nearly 7%.
How can Slovakia match the technologies of the 21st century with regulation, so that the opportunities will be exploited? It’s simple. It is not rocket science or a super-secured secret. Just look at what has been done by more than half of the U.S. states.
An example of innovation is a standardized cargo container. Today, there are more than 20 million of these containers around the globe and we move practically everything in them. This innovation from the late sixties completely changed the world.
Imagine a world in which everything has to be approved by the parliament, and only then that thing might actually happen. In such a world, there would be no innovations. In a different kind of world, things change first and the laws follow. Recently, the news that the General Advocate has advised the Court of Justice of the EU to recognize Uber as a standard taxi service appeared online. First, we should probably admit that the attorney was doing his job conscientiously. He…
This should be the first commandment of every regulator. Or at the very least, forbidding should not be their first step. All over the world, many governments which have imposed a ban on sharing economy do not respect this rule. They shoot first and ask questions later.
Even though there is no coordinating center and no “minister for IT,” the industry runs like clockwork. There are ever newer and better-quality products and efficiency puts downward pressure on prices. The same is true with food, cars, clothing, housing, and so on.
The rising popularity of nationalist thought all over the world is evident. It has already won several battles in the political competition. Nevertheless, it is important to highlight an interesting occurrence here: nationalists operate with at least two incompatible opinions on the functioning of economy.
On the one hand, Slovak unemployment rate is declining. Automotive industry and large companies find it difficult to hire enough employees. According to the recent reports, workers are brought in not only from Ukraine or Hungary, but even from Serbia.
Competition creates pressure to decrease profits in every part of production. Therefore, if someone would like to “help” developing countries by restrictions and price regulations, there should not expect that all costs will be absorbed by the corporations.
Slovak education needs a consumer-selected group of people and schools that do not wish to offer quality education, and rather just teach the same curriculum year after another, not considering the well-being of children. Many people will have to leave the field of education and a lot of old structures will have to disintegrate.