The COVID-19 pandemic was accompanied by unprecedented state interventions – from restrictions on basic individual freedoms to significant increases in public spending, among others, to compensate companies for the effects of the shutdown.
The Slovak Minister of Finance claims a tax and contribution burden on self-employed people should be increased in order to be “fair“ in comparison to employees. Why can’t we put a sign of equality between these two statuses? Why doesn’t the term “fair“ make sense?
Large oil field, steel production capacity, or number of tractors produced do not make the company rich. The company grows rich thanks to skilled people in the right place, their excellent skills and ability to adapt to change. As Julian Simon used to say, the ultimate source of wealth is man.
In mid-March 2020, in light of the Covid-19 pandemic, the almost complete government paralysis of economic activities put most of the economy of Bosnia and Herzegovina (B&H) into hibernation.
Have you ever been told you cannot put a price on peace, love, etc.? It’s a lie. Everything has a price, albeit not necessary a monetary one. Failing to understand this usually leads to a failure in securing one’s goals. This is why we need to talk about the price of victory.
In light of COVID-19 governments around the globe are juggling between ensuring business liquidity and preserving workplaces. Most countries have taken the approach of increasing regulations and tailoring them to the topicalities.
Slovak large-scale employers want the highest possible wage compensation, looking up to the German or Austrian Kurzarbeit system, which covers up to 85% of wage costs. Journalists and some economists argue that we should borrow as much as we can.
To stop the coronavirus, most countries ceased almost all economic and social activities. As a first response to prevent an exponential growth of cases, this was probably justified. However, we will not be able to bear the costs of such a complete shutdown for a very long time.
Many labor market regulations were created with large mid-20th century manufacturing plants in mind – which is the spirit of the Polish Labor Code of 1974. However, along with the process of industrial automation as well as the growth of employment in services, the economic reality has changed.