According to the Dutch research institute TNO 18 percent of the working population in the Netherlands has tried to find work in the gig economy, also known as crowdwork. These two abstract terms describe a new phenomenon on the labour market brought by the digitization of this age. Uber drivers or Foodora delivers are prime examples of workers in this part economy. Independent workers can find job oppurtunities from a simple app they installed on their phones.
Globalization makes it possible for goods to be traded without boundaries. The countries who produce a good most efficiently, will produce that good and trade it in order to get other goods. This means that the most efficient country will produce, which is positive for the economy. This also means that many factories are moved to low-wage countries, causing people to loose their jobs and causing environmental damage. Therefore the resistance against globalization grows, but is globalization worth a second chance?
Last week, I went to the FD National Economist Debate. The debate was about globalization and its different sides. What is the opinion of notable economists, professors, politicians and students on globalization and trade agreements?
Still single? Maybe you should use some economic theory to solve your problem. There are many theories on human decision making which can be applied to your dating life. In the field of behavioral economics there is the well-known phenomenon called the asymmetric dominance effect or the decoy theory. This theory suggests that when people are confronted with a choice between two options they have a hard time making a decision. However, adding a third option that is inferior but also similar to one of the options makes the first decision much easier. Namely, the option that is similar to the inferior option will be preferred by most people. This effect is called the decoy effect because the third option will never be chosen and is therefore just a decoy.
In the past couple of weeks the Nobel Prize has been in the news a lot. First because the Nobel Prize for Chemistry was won by someone from the Netherlands. Then because the Nobel Prize in literature was awarded to Bob Dylan. But what about the prize for Economic Sciences?
Consequences Brexit for The Nederlands
For many the morning of the 25th of June was not a pleasant one. The news that the UK was leaving the EU came as a big unpleasant surprise. The average Dutchman would surely feel the effects of such big happening. But what exactly?
Clinton vs. Trump
The United States of America are engaged in a remarkable battle for the presidency. With two eccentric candidates in the respected persons of Donald Trump and Hillary Clinton the duel seems to be decided based on who commits the least errors. Both campaigns are mainly focused on non-economic points and the agendas are very vague on the economical field. But what would the economic consequences for the USA in either possible outcome of the elections be?
You are still enjoying your student life and working your ass off to get a degree. Hopefully a great career is awaiting. Sometimes I dream about a future with kids and my own home. Leaving my small and smelly room with noisy roommates. However, buying a house is not as easy anymore, even with a degree in my pocket.
Do you feel like that the current curriculum of your Economics program is too narrowed, has more mathematics than needed, relying on odd and unrealistic assumptions and does not provide you with more insights about the world outside your classroom then you are not alone. In a manifesto signed by 100 university economics associations from 30 countries, the students criticize the current mainstream economics theories which do not represent nor is able to predict the economic reality. In the Netherlands, Rethinking Economics NL is a network which calls for pluralism in economic teaching at universities. Especially at the moment where we face big challenges that are new to us such as climate change, increasing population rate, huge migration flows and globalization, mainstream economics taught at universities is not preparing the next generation economists to solve these issues.