Category Archives: Economy

Do all World Bank Presidents have money background

When I read about Secretary of State Hillary Clinton’s possible run for the World Bank Presidency one question immediately occurred in my mind – do all World Bank Presidents have money background? Hillary Clinton was member of the Board of Directors of Wal-Mart, a position that we rarely think of when we initially think of her, and one that is debatable as to whether it could be under the category of money background. We tend to think that leaders of organizations that deal with money – such as the World Bank Group, the International Monetary Fund and the World Trade Organization, for example – have business or bank experience, understand the economy, and that their background speaks for their expertise on how money should be spent. This article aims at answering the aforementioned question – do all World Bank Presidents have money background – and not the competency of the current President and previous Presidents. Continue reading

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Transition economies: The case of Bulgaria

Abstract: Nowadays Bulgaria is known as a former communist country that went through a transition period to a free-market economy. On November 10, 1989, a day after the fall of the Berlin Wall, the Central Committee of the Bulgarian Communist Party made the decision to strip Todor Zhivkov of his power. Bulgaria and the German Democratic Republic were not the only then communist countries whose governments collapsed in November 1989. Other Eastern Bloc countries went through the same in that month and the months after. What is the transition period? Does it vary on a case-by-case basis? If yes, which kind of transition is the best, if any? How are transition countries compared? What happened in Bulgaria during its transition period from a socialist economy to a free-market economy? How did the Bulgarian economy transition compared to some of the other transition economies?

This paper aims at answering these and similar questions. Part one explains the two different approaches on transition – shock therapy and gradualism – including how successful they were in several countries – Russia, China and Poland, picked on a random basis as positive or negative examples of one of the two approaches. Part two discusses the case of Bulgaria compared to other transition economies. Part three draws a conclusion on the case of Bulgaria from the conducted research. Continue reading

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The public sector going private

In one of my previous articles, I concluded that governments differ from corporations. Both differ in their fiscal and electoral process and their structure, while they resemble in their most frequently encountered laws. Continue reading

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The importance of numbers

The importance of numbers have been generally neglected as part of the social sciences. Political Science and other social sciences, also known as arts and sciences or liberal arts, are often viewed as unnecessary to society because of their inapplicability, and obsolete at the expense of business education. People tend to see no job opportunities in these fields, except for Psychology and the like, especially after they witness read disputes on such topics and be able to understand them better than they can understand biology, engineering or other fields where more memorization and drill is required.

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Not every tax is bad

In the U.S., questions on taxes are on the agenda, especially days before an election, at a staggering economy with an unemployment rate at the upper single digits, struggling working class families and individuals. However, not all taxes are bad. I will aim at presenting a more commonsense approach on certain taxes. Continue reading

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Tony Hayward to be replaced by Robert Dudley

Despite Tony Hayward’s efforts to maintain the company’s good reputation, he will be replaced by Robert “Bob” Dudley as Chief Executive Officer (CEO) of British Petroleum (BP), according to media reports. This shouldn’t be viewed as a surprise but rather as a PR move by BP. Continue reading

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Health care explained in general

Among the biggest debates not only in the U.S. but all over the world as well is health care. People have cherished good health over the years so much that in most cultures there is at least one general wish that has to do with the other side’s good health. Continue reading

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