The Economist has a new article asking why rich people work longer hours than the poor nowadays. According to them: … the rich have begun to work longer hours than the poor. In 1965 men with a college degree, who tend to be richer, had a bit more leisure time than men who had only […]
Institutional reforms are the buzzwords in developments nowadays. Daron Acemoglu and James Robinson’s best-selling Why Nations Fail is all about institutions: the balance between inclusive versus exclusive political and economic institutions would determine the development path of countries. Indeed, the full name of the book is Why Nations Fail: The Origins of Power, Prosperity, and Poverty… (I […]
The New York Times today has an interesting article on how to measure poverty. To oversimplifying things, there are probably three ways to measure poverty. The first one, as Hong Kong is now trying to do, is to set a “poverty line”: people whose income falls below this level would be considered “poor”. The second […]