All in Economics

Economics of Labor in Brazil

Economics of Labor in Brazil

Karnik Aswani
Economics

Labor economics is a field of economics that studies the labor market and the relationships among workers, employers, and institutions involved in the production process. It is concerned with aspects such as the allocation of labor, wages, employment, working conditions, and other factors that impact the labor market. In Brazil, the labor market is characterized by significant challenges, including high levels of informality, low wages, inequality, and a shortage of skilled workers in some sectors. Moreover, Brazil's population of over 213 million people is the fifth largest globally, and it affects labor supply and demand in various economic sectors. Some of the various sectors would be agriculture, manufacturing, services, construction, mining and energy, and information technology. The government plays a crucial role in addressing these issues by enacting labor laws, policies, and programs that safeguard workers' rights, promote formal employment, and reduce labor market disparities. Brazil has experienced several economic crises in recent years, resulting in high unemployment rates and a decrease in formal employment. The government's response to these crises has been pivotal in mitigating their effects on workers and the labor market.

The Economic Impact of Ride-Hailing Apps on the Taxi Industry

The Economic Impact of Ride-Hailing Apps on the Taxi Industry

Fathima Gafoor
Economics

Imagine strolling the bustling streets of a metropolitan city and needing to travel to different places. Aside from subways, you have two options: hail a taxi, or use your phone to book an Uber/Lyft. Undoubtedly, many people would choose the latter. With just a click away, transportation network companies (TNCs) like Uber and Lyft have skyrocketed in popularity, providing consumers with an affordable and convenient way to get around to places. Unfortunately, these services have also had a negative impact on the traditional taxi industry, leading to a loss of jobs, and increasing the risk of monopolies in the transportation industry.

Pirate Econ 101

Pirate Econ 101

Cerine Benayoune
Economics

Disney thinks it has pirates figured out. A peg leg, a hook for a hand, a flashy moustache that swirls at the tips, and a parrot attached to their shoulder that you can tell is evil because it has angled eyebrows – all a necessary part of the uniform. That is about as far as Disney can take its pirate representation without being slammed with lawsuits by concerned parents, because the real pirates were more than just clumsy crew members who were always tripping over their own feet and bickering with children. They were violent and cruel. But most of all, they were clever. Their behaviours were not a result of unchecked impulses and potential undiagnosed psychopathy, but rather a result of calculated thinking and appliance of strategic acts that can be analysed today using modern economic theories. 

Hayek: An Overview

Hayek: An Overview

Thomas Mann
Economics

September 1945 contained multiple defining events around the world. In Germany, the Allies solidified control over their occupation zones. In Asia, the Allies rounded up Japanese forces. In the United States, factory workers began striking due to the postwar economic downturn. Lost in the shuffle is the publication of a 12-page journal article in The American Economic Review by an Austrian immigrant to the United Kingdom. The article’s author would change the economies and politics of the UK and the U.S.

Fiscal Policy in Germany

Fiscal Policy in Germany

Karnik Aswani
Economics

Fiscal policy is an important tool used by governments to influence the economy, and Germany is a good example of a country that effectively utilizes various methods of fiscal policy to promote economic growth and manage economic challenges. The German government has implemented a constitutional rule known as the debt brake, which limits government borrowing and supports the country's GDP. Additionally, the investment offensive promotes public and private investment in infrastructure and other sectors, which helps to create jobs and stimulate economic growth. Furthermore, the temporary reduction in VAT rates during the COVID-19 pandemic was a measure taken by the German government to boost consumer spending and support the economy during a challenging time.

Uncertain Economic Times Ahead for the United Kingdom

Uncertain Economic Times Ahead for the United Kingdom

Rhys Donnelly
Economics

On September 26th, 2022, the U.K.’s economy, the 6th largest in the world, nearly collapsed as the British pound fell 5% to its lowest value ever at just 1.03 USD. This left the U.K. teetering on the edge of a very serious potential economic crisis. To illustrate the severity of the situation, nearly ¾ of pubs in the U.K. are currently facing permanent closure, citizens are purchasing generators and torches as they anticipate blackouts in the coming winter, and police are preparing for an incredible surge in violent crime and civil unrest as the cost of living will make for a very tough winter for the country. The driver for all of this was the announcement from the new U.K. government that they would be borrowing billions more pounds as a part of their mini-budget which sent the markets tumbling out of control. Unfortunately for the U.K., all of this is occurring while a recession looms on the global economy set to further disrupt the country in many ways.

Inflation as a Result of Inflation

Inflation as a Result of Inflation

Caleb Smith
Economics

Global inflation rates over the past year have been higher than they have been since 2012; similarly, inflation percentages in the United States (US), the United Kingdom (UK), and the European Union (EU) since the start of the second quarter have been staggering. In the US, the UK, and the EU, the primary driver of the recent Consumer Price Index (CPI) elevation, in the US, and the Harmonized Index of Consumer Prices (HICP) in Europe, is the rising cost of energy and consumer commodities. The rising cost of consumer commodities, especially food, housing, and petroleum products has struck the world into a tumultuous spiral, causing the cost of living to rise to a level not seen since the 1980s, resulting in the global experience of all three types of inflation. Typically, only one form of inflation is seen; however, this reversion to a 1980s economy is the result of many factors and is relatively uncommon. This spiral has fueled riots and protests across Europe, causing protestors and legislators alike to demand monetary reform.

Growthism is suffocating our Earth; Degrowth can be a solution.

Growthism is suffocating our Earth; Degrowth can be a solution.

Lewis Saint Victor II
Economics

What exactly is Growthism? It is a necessity for growth to occur endlessly. Growthism is the base of current economic conditions and the vital concept of the dominant worldview. The principal philosophy and force of this era are distinctly economic. The values that determine our standing today are capitalistic-defined concepts of growth, profit, and attaining the utmost efficiency. Without ends or limits, growth seems like the standard inevitable order.

Inflation as a Result of Inflation

Inflation as a Result of Inflation

Caleb Smith
Economics

Global inflation rates over the past year have been higher than they have been since 2012; similarly, inflation percentages in the United States (US), the United Kingdom (UK), and the European Union (EU) since the start of the second quarter have been staggering. In the US, the UK, and the EU, the primary driver of the recent Consumer Price Index (CPI) elevation, in the US, and the Harmonized Index of Consumer Prices (HICP) in Europe, is the rising cost of energy and consumer commodities. The rising cost of consumer commodities, especially food, housing, and petroleum products has struck the world into a tumultuous spiral, causing the cost of living to rise to a level not seen since the 1980s, resulting in the global experience of all three types of inflation. Typically, only one form of inflation is seen; however, this reversion to a 1980s economy is the result of many factors and is relatively uncommon. This spiral has fueled riots and protests across Europe, causing protestors and legislators alike to demand monetary reform.

Printing Over Problems

Printing Over Problems

Rhys Donnelly
Economics

In the United States, central banks and governments play a key role in the health of the nation. These institutions have been working in conjunction for many years to determine monetary and fiscal policy in an attempt to grow economies and mitigate inflation and unemployment. However, after the gold standard was abandoned in 1933, and the US moved to a floating currency, everything changed. Under the gold standard, the currency had to be tied to physical gold where it could be exchanged but now, countries like the US have a floating currency where the value of the dollar “floats” with its demand in the global currency markets. This has given banks and governments a lot more freedom with interest rates and policy and has made way for the longest-running bull market in history. However, this has allowed those entities to manipulate markets and push large underlying problems further down the road by embracing new macroeconomic theories, such as modern monetary theory. Unfortunately, since these new theories have never been battle-tested over a long period of time, the economic condition of countries that have embraced these new theories has yet to be fully seen.

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