Economy and Government

By: Marvi Ali During the onset of the pandemic, employers were furloughing and firing workers rapidly, in an effort to downsize. Unemployment peaked in April 2019 at 14.8%. There was great uncertainty as to whether workers would find any jobs, let alone better jobs. However, the U.S. Bureau of Labor Statistics recently reported that, in August, 4.3 million Americans had quit their jobs, setting a new record but following the trend of rising quit rates from previous months. Economists have increasingly begun to recognize this new phenomenon as “The Great Resignation,” which is a term coined by Anthony Klotz, an organizational psychologist at Texas A&M University, in 2019. He predicted a mass, voluntary exodus from the workforce, and this is exactly what is happening. We are witnessi...

By: Iris An 2021 was supposed to be the year the U.K. breaks free from the European Union and forges ahead as a free trader, delivering the benefits of a new, confident “Global Britain” to workers and companies at home. Nevertheless, as the first winter after Brexit draws near, the country is in a precarious position, facing an onslaught of new economic crises with soaring gas prices, supply shortages, and a shortage of overseas workers such as HGV drivers.  Although the pros and cons of Brexit have been discussed for a long time, the crisis as the winter approaches has made it necessary to review the potential outcomes. Is this shortage merely a temporary transition period, as the UK turns from a EU country to a more global trader? To what extent should we blame the covid— ine...

By: Anton Kozyrev Zimbabwe has had a long road to its present-day state -- including from an economic standpoint. While the economic activity and history of the area dates back 100,000 years, including the emergence of kingdoms such as the Rozvi and Mthwakazi, the land that is today the Republic of Zimbabwe was integrated into the present-day economic system in the 1880s. This was, of course, when the area was colonized by European powers. After the Portuguese had tried unsuccessfully to invade, it was British mining magnate Cecil Rhodes who proved instrumental in enabling the British Empire to colonize the land. This marked the beginning of company rule in the state that would be called Rhodesia in his honor. This state would continue to exist in a variety of administrative forms, ...

By: Gianna Minasian On Thursday October 21st, the Wall Street Journal reported that the Centers for DiseaseControl and Prevention (CDC), in conjunction with the Food and Drug Administration (FDA),had approved booster shots for people over 18 years old for both the Moderna and the Johnson &Johnson COVID-19 vaccines. Pfizer’s booster shot had already been approved weeks before. This approval came in the wake of President Joe Biden’s September directive that alllarge companies must require their employees either to be fully vaccinated or comply withweekly COVID testing. In the aftermath of Biden’s directive, companies are scrambling to create policies thatcomply with federal COVID policy. While, last month, only about 15% of companies hadvaccine mandates, an October report by Fo...

By: Rohan Upadhyay The Freer Future Fest - a libertarian conference in Nashville that was partially planned and run by the Vanderbilt Libertarian organization - hosted a debate on Saturday, October 9th, between political Twitch streamers Vaush and Bastiat. The conversation examined what “freedom” means and the types of freedom that society should prioritize to maximize people’s opportunities to experience fulfilling lives. Furthermore, the two commentators discussed how the institutions and regulations of the American economy promote and inhibit freedom in various ways. They debated how to reorganize our economy to promote greater opportunity.  While Vaush argued that “freedom” requires the ability to enjoy basic prosperity and that we can promote this by reorganizing society a...

By: Anton Kozyrev Dr. Brendan Cronin has seen it all. After a decades-long career in the hospitality industry that took him all over the world, including Ireland, Switzerland, Singapore, and Macau, he assumed a professorship at Endicott College in the United States. In this role, Prof. Cronin taught hospitality management and has had the unique experience of witnessing an entire industry grow and transform from various perspectives. Irish by birth, and Swiss by marriage, Dr. Cronin is now retiring and moving to Switzerland. And it is precisely in Switzerland that the hospitality industry continues to intrigue tourists and business leaders alike. Just before leaving for Geneva, he was kind enough to provide an in-depth overview of the history of the nation’s alpine tourism industr...

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...

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...

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 ...