There is a wide range of literature written on the relationship between education and economic growth. It is often asserted among scholarly circles that investment on education brings higher returns to individuals’ human capital and subsequent increase in their productivity. As much as the productivity of the labor force increases; that is, the output per worker per hour produced increases, so the...

Introduction World inequality has been one of the biggest problems throughout last decades. Despite two centuries of rapid economic growth dynamics, more than a billion people remain in dire poverty, and the average income of population of developed countries is dozens of times more than the countries like Zimbabwe, Sierra-Leone or Afghanistan. This particular global problem has attracted several scholars...

Introduction The EU membership referendum that was held in the UK on June 23, 2016, resulted with 51.9% of the population voting in favor of the withdrawal from the European Union. Taking into consideration the 43 years’ long membership of the U.K. in the EU, this event is bound to bring about certain consequences for all the remaining 27 Member-States as well as for countries outside the Union. In...

The (un)expected turning point occurred in the energy market when one of the world’s biggest crude oil exporters – Saudi Arabia declared that it will cut dependence on oil revenue by 2020. The new ambitious strategic concept intends to lay out a new economic trajectory amid the deep crisis in the oil market. The chief mastermind behind this ambitious plan is Minister of defence of the Kingdom...

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