Big Changes

How Big Data is revolutionizing economics

A few weeks ago I attended the Digital Economy Days, a technological conference organized by the University of Amsterdam in partnership with Samsung, that encourages students to get ready for the digital economy environment in which they will be working. Being rather tech adverse and having a limited understanding of anything beyond Microsoft Office, one

Human Capital and Growth

Summary: During the course of history, we have seen how human capital could make a substantial difference to the economy. For example, the rise of East Asian countries between the 1960s and 1990s is largely made possible by the role of policies that focus on developing the human capability. Still, many countries, especially developing ones, continue

How Did Latin America Fall Behind?

What are the main reason of the diverse economic paths of the American Hemisphere?

There are different theories that try to explain the reasons of the contrast of economic development in the colonized countries. It is widely believed that it is fair to assume an equivalent rate of economic growth in countries that were colonized and later emancipated within the same periods of time, especially if those countries also

Revolution of values

“Velvet Revolution” that won without a single bullet fired

Imagine people from various backgrounds – students, teachers, journalists, artists, soldiers – laughing, dancing and hugging one another.  Envision a sea of flags with red, blue and orange colours fills the main square. Picture ordinary people who stood up for the transparent and accountable government. Imagine a united nation that managed to fight against almost

Productivity and Wages

Economists are generally hardly interested in how markets really work. If they were, they would have abandoned the concept of equilibrium as soon as its inconsistency with freedom and individuality became apparent through the work of Sonnenschein (1972), Mantel (1974) and Debreu (1974). The fact that they haven’t, indicates that the majority of them is

The Tesla Experience

Over the years, the traditional method of doing business has been design, advertise, and hopefully sell your product. Recently, some brands are turning towards a new marketing strategy, experience marketing, by focusing on providing a stellar brand experience to customers instead of sticking to what is traditional. Brand experience, simply put, is a complete bundle