Technology to kill more Jobs Technology has made the pace of change increase manifold in recent times and have made things increasingly difficult for the professional workforce around the world. Earlier technology change had made manufacturing jobs redundant, due to improving automation as well outsourcing of jobs to low cost third world locations. This trend [...]
As India grows more prosperous and more citizens get educated, the country is facing a major problem. While every country would kill for millions of graduates passing out every year, India is finding them to be a problem. The reason is that India is seeing jobless growth with a paucity of decent jobs on offer. [...]
Global Labor Oversupply What has been missed out by economists worldwide is that capital is now heavily advantaged over labor which is leading to massive inequality around the world. The reason is that Labor both educated and unskilled has risen exponentially, with structural changes like the Internet and growing prosperity in large labor pools like [...]
Globalization It has been said time and again how Globalization has led to increasing prosperity around the globe with free movement of capital and trade. But what has been not been emphasized enough is that how the easy movement of capital has exacerbated loot and plunder on a global scale. Tinpot dictators and cronies have [...]
Overpopulation and Increased Lifespan This current day situation is taking an increasing toll on people graduating from colleges in the West. There are enough statistics to show that the recent graduates are bearing the brunt of the current economic slowdown. Unemployment is much higher for the younger age groups and wages are much lower. Many [...]
China has increased the tax exemption limits for urban workers by 80% to $540 a month as soaring inflation and rising income inequalities has reached dangerous levels.Note increasing corruption and vast income inequalities have led to increasing incidences of violence and riots in the country.The prices of essential commodities like food and fuel have been increasing rapidly like in the rest of the developing world.Despite the central bank increasing interest rates,the prices have hardly moderated.Pork prices have touched new records making the life of the poorest quite unbearable.Note Gini’s coefficient in China has reached 0.47 which is very high.While economic prosperity has increased,a vast section of the population remains poor.This is apparent in the fact that only 24 million workers out of 300 million urban workers earn more than $6500 per year .