A Modern Medieval Nightmare

Streets that lack asphalt, houses without water and electricity and whole communities wanting in proper access to schooling and healthcare— while this might sound like a description of a medieval town this is the reality for hundred millions of people in India. The Indian slums are known as prime examples of the economic theory of the poverty traps. What this […]

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Sweden’s experiment with the 6-hour work day

Happier staff.  Increased profits.  Lower turnover rate.  These are just a few of the reported benefits of the six-hour work day, adopted this year by employers across Sweden – from retirement homes to car centers and hospitals. This approach is not entirely new.  Thirteen years ago, Toyota service centers in the coastal city of Gothenburg cut shifts for their mechanics. […]

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China Marks a Reform Milestone

Buried in the maelstrom surrounding the terrorist attacks in Paris, International Monetary Fund staffers recommended on Friday that the Chinese renminbi join the IMF’s Special Drawing Rights basket of currencies. There are two requirements for a currency to be accepted into this elite echelon: it must be, in the words of IMF director Christine Lagarde, widely used and freely usable. […]

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When a huge corruption takes place in a huge nonprofit organization – the 2015 FIFA corruption scandal

The FIFA World Cup that takes place every four years is one of the most celebrated sports gatherings in the world. Millions of soccer fans around the globe would go to the stadiums or sit in front of their televisions for hours, while the players will toil hard on the fields hoping to represent the pride of their home countries and […]

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A Light At The End Of The Tunnel For Brazil

Brazil has had little to celebrate as of late. Unemployment has jumped to 7.6% in August, up from 5% a year ago. With an inflation rate of 9.5% significantly greater than an increase in nominal wages of 6.3% over the last 12 months, real wages have actually fallen by 3.2%. Household consumption, the main driver of Brazil’s recent economic growth, […]

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Greece Staves Off a Crisis…For Now

After weeks of tense, acrimonious negotiations, the Eurogroup of European finance ministers and the government of Greece hashed out an agreement to extend the troubled southern European’s bailout program by six months. In broad terms, the agreement allows Greece to access an additional $273 billion from its bailout, but only after certain conditions set by the Eurogroup are met. Greece […]

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How Greece’s Debt Crisis Could Collide with the War in Ukraine

The landslide election victory for the far-left SYRIZA in January’s Greek elections has led to fear in many European capitals that Greece could move into Russia’s orbit. The current and most pressing issue for Greece is whether or not its government and the European Union will agree to an extension of the fiscally troubled nation’s $273 billion bailout. The present […]

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The Middle East is in Crisis. So Why is the Price of Oil Plunging?

A terrorist group is seizing key oil fields in northern Iraq. Libya lacks a definitive central government. The United States and the European Union are actively sanctioning two of the world’s top five oil producers, Russia and Iran. Five years ago, the current geopolitical climate may have been cause for a surge in oil prices, but today it is the […]

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