The insurance sector plays a critical role in economic stability and individual financial security. Due to its significance, the sector is heavily regulated to ensure solvency, fairness, and efficiency. Regulations […]
Challenges in Reaping India’s Demographic Dividend
1. Employment Generation: 2. Skill Mismatch and Education: 3. Health and Nutrition: 4. Gender Disparities in Workforce Participation: 5. Regional Disparities: 6. Infrastructure Deficiencies: 7. Urbanization and Migration: 8. Governance […]
The Significance of Efficiency Wage in Contributing to Worker Health and Productivity
The concept of the “efficiency wage” refers to the practice of employers paying wages higher than the market equilibrium to improve worker performance, reduce turnover, and enhance overall productivity. This […]
Prebisch’s Explanation of Terms of Trade Behavior
1. Prebisch-Singer Hypothesis:Prebisch, along with Hans Singer, argued that over time, the terms of trade for primary commodity-exporting countries (mainly developing nations) deteriorate relative to those of industrialized countries exporting […]
Distinction Between Collective and Individual Decision-Making
Individual Decision-Making: Collective Decision-Making: Key Differences:
Challenges Faced by the Unemployed in India
Main Sources of Economic Growth
Transition to ‘institutional economics’ from ‘neoclassical economics’
The transition from neoclassical to institutional economics marks a shift in focus from purely market-driven analyses to the broader role of institutions, norms, and social structures in economic behavior. While […]