and growth.Efficiencyandequityconcern the processes of production and consumption (and are concepts that fall under microeconomics).Stabilityandgrowthapply to the overall performance of an economy (and are concepts that fall under macroeconomics). When analyzed economically with regard to pollution (or ...
Crowding-Out EffectThecrowding-out effectis a phenomenon in economics that occurs whenincreased government spendingor intervention in a specific sector of the economy leads to adecrease in private sector spending. This effect is a critical concept in fiscal policy and macroeconomics, shedding light on...
The new measure of economic development proposed in the article encompasses a complex spectrum of phenomena in one number, as it takes into account the influence of the public administration sector, as well as top technology in the form of ICT and its practical business models. It also takes ...
Jawad Habib Jawad, Senior Partner at BDO Bahrain, added that Bahrain’s success in introducing economic reforms and bringing the private sector centre stage had heightened the need to ensure up-to-date business intelligence was made available to international investors. “Bahrain’s n...
their life expectancy is predicted to be the second lowest. The agents with filial altruism invest in health the most and enjoy the longest lifespan. Under this hypothesis, the economy grows at the slowest rate because they substitute away from education investments. The self-interest and reciproc...
The need for automation and AI is higher than ever.For the first time, job openings in the US outnumber people looking for jobs. Robotics is a potential solution for more industries today, including the RPA’s impact on the services sector as well as automation in manufacturing. Further, co...