Since its creation, economists who are familiar with GDP and SNA methodology have emphasized that GDP is a measure of economic activity, not economic well-being. In 1934, Simon Kuznets, the chief architect of the United States national accounting system, cautioned against equating GDP growth...
Budget deficits, as well as surpluses can be part of our everyday financial life, together with their effects. But, the impact they reflect to economic environment is the most important effect for the future. Business investment spending on physical capital such...
Yes! But the effect is ambiguous. Income inequality can either propel growth by offering incentives to people to be more productive or impair it by reducing demand and worsening health and education for the poorer, among other reasons. (more…)
In latest decade tourism has become a primary economic activity of many countries in Mediterranean Sea region. If the economic benefits of tourism are clear (more added value and employment, for example), the various costs derived from it are also evident...
Despite common misconception, the European Union does indeed allow member states to decide their own rates of VAT on a number of categories of goods and services. In Albania, this policy remains yet a taboo and looks that the standard...
