As life-expectancy has increased during the past decades, governments around the world are trying to figure out a sustainable retirement-income regime. These regimes vary significantly around the world.
The next five years will be crucial. Public finances should come out of huge deficits, and the lesson from the previous crisis is clear. Tax increases will never be temporary. Pulling the tax brake can serve as an additional “austerity” argument in the discussion on lowering the deficit.
The general objective of the Directive is to ensure that all EU workers are protected by minimum wages, which is essential to guaranteeing adequate working and living conditions regardless of the place of work or residence.
When we talk about wages in Slovakia, we refer to gross wage. From an economic point of view, however, it is a fictitious value created by accountants. It represents an arbitrarily set point between the two key values: net wage and labor costs.
The European Commission (EC) has published a study on working conditions of platform workers. Platform work is understood as all labor provided through, on, or mediated by online platforms in a wide range of sectors.
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.
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.
The football business shows well how underestimating a well-performing and efficient player can bring other costs. The player may either simply leave for another team, or, if restricted with a contract – underperform to the level only required by the payment.