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.
Publications
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?
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.
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.
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.
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.
A semi-annual specialized journal issued by the Bahrain Center for Strategic, International and Energy Studies in the Kingdom of Bahrain. The journal aims to public studies and reports on political, international, economic, security, energy, and cyberspace issues that relate to strategic issues…
The recent success of Emirates, Etihad, and Qatar Airways has concerned global competitors, who have responded with government-mediated complaints alleging of “unfair” assistance from the Gulf governments, such as interest-free loans.