economy

The ruling politicians are unfortunately going in the opposite direction. While a person working for a minimum wage in 2015 paid 29% in taxes and levies, with the planned minimum wage, they will pay more than 40% next year.

In 2017, the Cambridge Dictionary proclaimed “populism” the word of the year. There are many definitions of the term, still, it always evokes strong emotions. One of the definitions of populism in politics was proposed by the Swedish think tank Timbro.

Countries and organizations have often suggested ideas and changes based on the US economic/healthcare or educational system. Even though there are elements which we can learn from and desire to implement, some other parts of that system might seem much less attractive and desirable.

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 […]

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.