Last week’s events give some hope that the deep crisis which has gripped Venezuela’s economy in the past few years could end, or at least that the country may head towards economic recovery soon. It is, however, worthwhile to again review the dimensions and the causes of the crisis.
A minimum wage problem is a thought experiment that is not easy to comprehend. The fact is that people are different. Some people create enormous wealth and others do not produce much. If their added value or created wealth in a month does not reach the minimum wage, the government forbids them to work.
Georgia, after regainig its independence, became a place of many experiments. The nation made certain state-craft steps to obtain legitimacy and capacity to run social institutions. Including the process of restoration of private property.
The 2017 labor law reform significantly improved Lithuania’s position in the Employment Flexibility Index, moving the country from the 27th to 15th position among the EU and OECD countries, according to Employment Flexibility Index 2019 compiled by LFMI based on the World Bank’s Doing Business data.
100 years ago, Poland regained independence, but its economic success started only 30 years ago. Neither the Second Polish Republic after World War I, nor the socialist People’s Republic of Poland after World War II managed to significantly increase standard of living compared to the USA.
Transition of a country from the category of developing countries to developed one is a process that takes years. The change of category is a byproduct of institutional changes and accompanying increase in the level of living. Poland has been implementing reforms moving us toward market economy and democratic society since 1989. As a result we were able to close significant part of the gap in standard of living between Poland and Western countries. It…
The competitiveness of a country’s tax system is instrumental in creating a favorable environment for foreign direct investment, stimulating business, and advancing societal well-being. Competition based on endogenous factors should not be perceived as unjust or unnatural.
If Ukraine loses the chance to receive assistance from the IMF and other international donors in 2018, the government will be hard-pressed to execute planned fiscal expenditures in 2018. The fiscal indicators will be also revised for 2019 to lower real GDP growth and higher inflation.
Regional economic differences are not the exclusive preserve of Germany. They exist in almost all economies. However, the inequality between east and west Germany, can also be explained by means of a different divide: the economic gap between urban and rural areas.
With a sample of 4,000 Slovak students, the Economics Olympiad revealed the most serious weaknesses in economic education of young people. Memorizing is believed to be a long-term problem, but knowledge useful only as a part of quiz shows remains a crucial element of the Slovak education system.
