The Strategic Waterway Is the Contact Point for the Gulf and Africa’s Security
Economics 101: Signalling Model Explains Labour Market Emphasis on Education
The human capital model of education, developed in the 1950s, analysed education as a way of building valuable skills. It provided economists with an intellectual foundation for treating education as a source of wealth, paving the way for the big expansion in higher education that has happened in advanced economies since the 1970s.
Markets Skeptical of a Lasting Oil Production Cut
Russia has nominally committed to cutting its oil production by 300,000 barrels over the first few months of 2016. How did oil and financial markets react? How will they react in the near future?
Economics 101: Migrant Contributions to Economy May Have More Positives
The two biggest electoral shocks this year were unquestionably the UK’s decision to leave the European Union, and Donald Trump’s victory in the US elections. A key issue among voters was the perception that migrant workers depress the wages of low-skilled nationals, because of their willingness to work for a lower wage.
“Economics 101: a Minimum Wage Undermines Low-paid Workers’ Interests”
The primary factors that govern a worker’s wage are the worker’s ability to generate revenue for the company and the degree of competition from other workers. Sometimes, this organic wage determination process results in a wage that society regards as “too low to make a living”, leading to calls for a minimum wage.
Childcare and Female Labor Participation: Lessons for the GCC
Raising female labor force participation from 22% to 30% represents one of the Saudi Arabian government’s goals in its Vision 2030. All advanced economies feature strong female participation in the labor force, as robust economies make use of all available resources, male and female.
Economics 101: When It Comes to Wages, Fairness Is Not the Crucial Measure
One salient difference between economists and non-economists is that the latter are often observed describing prices, including wages, as being “fair” or “unfair”, whereas economists will scarcely use such terms.
