The human instinct for trade has deep historical roots, but its economic, social and political importance has risen in recent times due to industrialisation, technological advance and globalisation. In fact, there is evidence that our Cro-Magnon ancestors engaged in trade and moved from barter for their immediate use to trade for resale. The shift by
The last season of “Downton Abbey” has just finished airing the U.S., and a significant portion of the populace is once again caught up in the fortunes and misfortunes of the Earl of Grantham and his household, both above- and below-stairs. Why are we so interested?
To give it its due, the cast is phenomenal, the production values are
Finding opportunities and sorting them out from grand possibilities is what Mo Ibrahim has done throughout his lifetime. However, in attempting to change the perceptions of an entire continent, Ibrahim has elevated the scale of his ambitions to a different realm altogether.
On Dec. 10, 1948, the United Nations General Assembly passed the Universal Declaration of Human Rights that created a vision of peace and prosperity for the world. As part of that vision, the Universal Declaration sought to achieve elementary education everywhere.
Though first set forth more than 65 years ago, after multiple reassessments and delays, today
In 2008, Timothy Geithner was nominated for U.S. secretary of the Treasury. He was voted in by the U.S. Senate, and served from 2009 to 2013 under President Barack Obama. It was later discovered that, even as a trained economist and monetary expert, he had underpaid his taxes in the previous decade by $34,000. This
In economics, individuals or entities act based on the hope that the benefits of their actions will outweigh the costs. The economic value of an action is measured by the benefit it provides.
A current hot topic in news media is the potential agreement between the United States and Iran. Economically speaking, what would the value
On July 16, 1969, at 9:32 in the morning, a Saturn V rocket blasted off from Cape Canaveral, Florida. This mission, known as Apollo 11, would prove to be arguably the most successful space mission in history, carrying three astronauts safely to the moon and back. Throughout the mission, news outlets, newspapers, reporters, and other
In a barber’s chair, you can get an earful from your neighbor. On a Saturday on a recent visit to the states, I got a rather bleak state of the union address as told by Bob, a Chicago native in his fifties, to his haircutter, Afif, a recent immigrant from Dubai. Afif, I noticed, visibly
The Global Corruption Barometer survey across 107 countries found that, in 2013, in 51 of these nations, people perceived political parties to be among the institutions most affected by corruption. Bribery, corruption, theft and tax evasion cost developing countries $1.26 trillion per year, sufficient to lift the 1.4 billion people living on less than $1.25
America has always been a land of opportunity. Part of the American dream has been the possibility of social mobility and the creation of wealth for every individual. Since education and skills-based training are key components in helping people achieve a higher standard of living, it is no surprise that these are important topics when
Founded by Edward Said and Daniel Barenboim in 1999 as an experiment in coexistence, the West-Eastern Divan Orchestra is a unique enterprise. Since its inception, it has given about 176 public performances across a range of impressive venues such as Royal Albert Hall, Carnegie Hall, and the General Assembly Hall at the United Nations, among
“Now, what I want is, Facts. Teach these boys and girls nothing but Facts. Facts alone are wanted in life. Plant nothing else, and root out everything else.”
These are the words with which Charles Dickens began his 1854 novel, “Hard Times.” But the words might sound familiar to anyone who has followed our 21st-century debates
Throughout history, countless wars have been sparked around the globe. The causes of wars range from relatively small disagreements, to more provocative moves, such as an invasion of another country. While many wars end only after one side achieves absolute victory, still other wars end in a compromise long before a clear victor becomes apparent.
In
Tax revenues this year will surpass pre-great recession levels for the first time. But has the economy truly healed?
Recently, The Economist published an article entitled “A History of Finance in Five Crises.” The authors argued that financial institutions and fiscal policy evolved in spurts following economic hardship. Our current financial system is a result of
In 1857, Charles Dickens completed serial publication of his eleventh novel, Little Dorrit. Among other things, the novel includes a scathing indictment of a government whose main object is to prevent anything from getting done. This mission is embodied in the Circumlocution Office, a bureaucracy dedicated to “How Not To Do It.” Any individual wishing—scandalously!—to
In economics, individuals act based on the idea that the benefits of their actions will outweigh the costs. An individual will forgo one option for another and the benefits he or she could have received are called the opportunity costs.
A prime example of this can be seen in students’ decisions to pursue higher education.
Instead of
Business leaders and American citizens view the importance of a college degree very differently. Approximately 70 percent of Americans believe that having a bachelor’s degree remains essential for getting a good job. Unfortunately, business leaders are not so optimistic: only 33 percent believe that U.S. colleges provide graduating students with the skills their businesses need.
On April 18, 1949, bells and celebrations erupted in Ireland. Thirty-three years after the beginning of the Easter Rebellion, the Republic of Ireland Act came into force, severing the last constitutional link to England and the British monarchy. This was followed by the Ireland Act of 1949, in which Britain conceded its former role and
Well-informed citizens are important for the preservation of democracy. So much so, the Founding Fathers protected the press in the First Amendment. Since even before the foundation of the United States, people have been using the press, media, and journalism to inform and influence others. Journalism has seen many changes since then. One change involves
Over $2 billion was donated to the U.S. presidential candidates in the 2012 election. After the donations had come in and most of the money had been spent, nearly 60 percent of eligible voters in the United States turned out on Election Day to cast their ballots in the presidential race. Open elections are ways
