Posts with the tag « economy » :

🔗 GDP Fetishism

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Another marked change in most societies is an increase in inequality. This means that there is increasing disparity between average (mean) income and the median income (that of the “typical” person, whose income lies in the middle of the distribution of all incomes). If a few bankers get much richer, average income can go up, even as most individuals’ incomes are declining. So GDP per capita statistics may not reflect what is happening to most citizens.

🔗 Evidence that we work our ass off in this country for nothing.

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People living in Cairo work the most number of hours in the world! Follow the link to the UBS site and download the PDF: lots of data. You will find that despite the greatest number of hours, this really buys us nothing. The data was collected via questionnaires administered to people from 14 different professions. The questions is: do people in Cairo report a higher number of working hours or is it true we work more than anyone else?

🔗 What is a monopoly?

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Governmental policy with regard to monopolies (e.g., permitting, prohibiting or regulating them) can have major effects not only on specific businesses and industries but also on the economy and society as a whole.