Saturday, September 18

Economy and Government

Turnover Rate in the Banking Industry: Problematic but Reparable
All Posts, Economy and Government

Turnover Rate in the Banking Industry: Problematic but Reparable

By: Eric Wang The high turnover rate of employees in the banking industry has caused impacts on companies' development. According to one survey, junior analysts' retention rate has climbed to almost 50 percent high. Debates on maintaining employees and preventing damage to organizational effectiveness have brought attention from corporations' executives. Symptoms accompanied by a sky-high turnover rate include low job satisfaction, damage to the team working, and lack of loyalty to the company. Negative Cause: What makes the employee want to leave The studies conducted in the regional banking industry showed that low job satisfaction decreases performances and leads to resignations. In the banking industry, compliments for the job contents and organizational management are preval...
The True Scope of Vaccine Passports
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The True Scope of Vaccine Passports

By: Adam Messinger & Brendan O'Reilly After a year of shutdowns, restrictions, and isolation, there is no denying that the level of travel demand, both domestically and internationally, is at an unprecedented high. Individuals of all age groups are itching to escape to destinations far and wide, with 82 percent of American families planning to travel in 2021, according to research reported in Travel Pulse. However, COVID-19 has revolutionized how individuals and businesses travel. With nations still imposing various restrictions on the specific individuals that can cross their borders, a new type of “passport” is being developed to allow safe travel while the global vaccination campaign continues to ramp up. Commonly known as the “vaccine passport,” an increasing number of count...
The Market Ramifications of Semiconductor Manufacturing Localization
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The Market Ramifications of Semiconductor Manufacturing Localization

By: Anton Kozyrev For much of the 20th century, there was one crucial commodity that rose above all others to assume its position atop the global pyramid of desirable goods, so to speak. We speak, of course, of oil. That is not to say that oil only became prominent in the 20th century -- far from it. During the 19th century’s phase of rapid industrialization and almost rhythmic conflicts between economies of scale and labor unions, one thing held absolutely constant -- the importance of oil as a key driver of further economic development and industrialization. The beginning of the following century only further defined the parameters of industrialization, with a central focus on oil. With the discovery of the Spindletop Geyser in 1901, the oil industry grew at an almost exponential ...
The Implications of COVID-19 For Inflation and Its Measurement
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The Implications of COVID-19 For Inflation and Its Measurement

By: Maximus Hamilton Amidst the enervating pandemic our country has dealt with the past year, numerous changes have taken place, not only in the social realm, but in the scope of our economy as well.  Without question, the COVID-19 pandemic has drastically altered consumer spending habits and patterns. With the need to minimize social encounters and slow the spread of the virus, many consumers have turned increasingly away (if not altogether) from most services, and as a result, the proportion of consumer spending on such services versus spending on consumer goods has been significantly altered. A close look at economic data from the past pandemic year would show a drastic decrease in expenditures on many services -- such as restaurants, movie theaters, and bars -- coupled with...
The Future of American Healthcare
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The Future of American Healthcare

By: Matthew Jean-Mary Regardless of political leaning, many Americans believe financing for healthcare in the United States of America will likely have to change in the near future. As it currently stands, the United States spends more money on healthcare than any other country in the world. However, this is greatly deceiving because the United States is not reaping the results achieved by other developed countries. It has been shown that -- on average -- U.S. citizens visit primary care physicians less frequently than other nations despite the fact that U.S. adults typically have greater health needs and demands (U.S. Health Care from a Global Perspective, 2019 | Commonwealth Fund). Intel from the Commonwealth Fund survey indicates that U.S. adults lack the income to pay for physician...
The Advent of the Fourth Industrial Revolution and Its Implications for the Efficacy of GDP
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The Advent of the Fourth Industrial Revolution and Its Implications for the Efficacy of GDP

By: Anton Kozyrev GDP -- or Gross Domestic Product -- has long been the favored means of assessing economic health by myriad groups, from economists to politicians. But it may well be time for a change. According to the St. Louis Fed’s Federal Reserve Archival System for Economic Research (FRASER), the modern concept of GDP was introduced by economist Simon Kuznets, after the United States government had commissioned him to devise a new method of calculating the health of the U.S. economy in a bid to elucidate a clear path out of the Great Depression. This was done in order to allow the United States to articulate a proper response to the heightened pressures of the Great Depression, and eventually led to the large-scale modernization and industrialization of the U.S. economy du...
How to start investing in the stock market as a college student, and why you should do it now
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How to start investing in the stock market as a college student, and why you should do it now

By: Jaime Svinth Whether you have been working since high school or plan to enter into the workforce after graduate school, learning how to manage your money is crucial for a secure financial future. Gone are the days of simply putting money in the bank in hopes that interest rates compound the saved money. Enter: the stock market. Put simply, the stock market connects buyers to public shares of companies. As these companies grow, shares become more valuable, and thus an original investment earns you more money than you paid for it. For some, starting to invest is an intimidating task, and one that some may put off until they are out of college. However, the sooner one can invest, the better, even if it's just $100. Owen Graduate School Assistant Professor of Finance, Jesse Bloch...
Why Marijuana Legalization Evades Us
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Why Marijuana Legalization Evades Us

By: Rohan Upadhyay The debate over legalizing marijuana has become a hot-button and commonly debated issue in the past few years since Colorado legalized weed in 2012. Regardless of one’s personal stance, we should acknowledge that representatives in Washington are not having an honest conversation about how best to reduce drug abuse. The simple truth is that the “War on Drugs” is a product of corruption and didn’t come from actually trying to resolve the drug problem. We must address that, since it began in 1971 under President Nixon, the War on Drugs has not significantly reduced drug abuse in this country. Rather, it’s the opposite — drug abuse and drug-related deaths have risen since the 1970s (source: Center for Disease Control and Prevention and National Institute on Drug A...
A Changing Global Economy Requires Investment and Support of Higher Education
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A Changing Global Economy Requires Investment and Support of Higher Education

By: Anton Kozyrev It would be a gross understatement to say that education has a big impact on individuals’ lives. It is often the defining factor that shapes the trajectory of one’s life, all thanks to the immense financial and economic influences it has. The United States consistently spends more on elementary and secondary education per student than any other nation in the world -- and the U.S. has among the highest secondary school graduation rates in the world. This has undoubtedly been a major factor in the U.S.’ economic growth and development in the past decades. However, as the global economy shifts in the coming years, requiring more extensive forays into increasingly complex topics and conjectures, the workforce of the future will need to expand upon its education to keep...