Sanctions are often imposed as punishment against authoritarian regimes who happen to annoy Western powers. The rational is to make the population or the leader's entourage suffer so much as to demand regime change. However, making it difficult to obtain goods legally only consolidates the leader's power because it gives him the ability to redistribute wealth to whoever represses the population more effectively.Read More
In studies after studies economists found a small or non-existent relationship between minimum wages and higher unemployment. This seems to defy the law of supply and demand which predicts that an increase in the price of labor should make employers reluctant to keep workers. In this Brainstorming rubric we try to explain this dilema and ask readers to present their own theory.Read More
The uber producers at NPR take listeners' hand and lead them into the dark alleys of economics. You'll discover topics you never knew you never knew such as the invention of the 'economy', the history of light, how to make it in the food truck business, or even dating tips from an economist!
But what I love most about Planet Money are the probing and at times naive questions asked by the hosts to a wide range of experts. They remind me of my university days when we worked out problems in group. Unbiased, unconventional and informative... my favorite. I hope that you enjoy it too!Read More
With the upcoming introduction of cheap tailored education tablets, the completion of a continent-wide network of fiber optic cables and the proliferation of Massive Open Online Courses offering free lectures from top university professors, Africa has a chance to build a highly-skilled workforce on the cheap. But government need to put in place policies that reflect the new reality that educational outcomes will no longer be decided in the classroom but will fully depend on private efforts.Read More