Economics Pa

  In the world of economics, debt plays a pivotal role in shaping the development trajectory of nations. However, not all debts are created equal. A glaring contrast exists between the debt burdens of developed nations like the United States and those of the Global South. This contrast not only reflects economic inequality but also serves as a significant factor contributing to underdevelopment in many regions. In this article, we delve into the disparities between the United States' debt and that of the Global South, exploring why it perpetuates underdevelopment and the role of international financial institutions like the World Bank and the International Monetary Fund (IMF) in perpetuating this cycle. The United States Debt: A Different League The United States boasts one of the highest national debt levels globally, currently exceeding USD 28 trillion [1]. However, the nature and implications of this debt significantly differ from those faced by countries in the Global South. Th

Rwanda's Wholesale and Retail Trade sector stands as a pillar of economic activity, employing a substantial portion of the nation's working-age population. This article delves into the intricacies of the sector's workforce, offering insights gleaned from the 2022 report by the Rwanda Development Board (RDB). Join us as we explore key facets such as employment distribution, educational backgrounds, gender dynamics, enterprise statuses, and the future outlook within this vital sector. Workforce Composition: A Snapshot of Diversity In 2022, the Wholesale and Retail Trade sector boasted a workforce of 372,408 individuals, with a balanced gender representation. The sector's youthfulness is evident, with the average working age pegged at 36 years. This demographic trend highlights the sector's appeal to the younger workforce. Source: overview of the wholesale and retail trade; repair of motor vehicles and motorcycles Sector- 2022 published by RDB.   Educationa

  Unemployment remains a pressing concern globally, impacting communities and economies alike. In Rwanda's Eastern Province, particularly in Nyagatare District, addressing unemployment is a multifaceted challenge with varied opportunities for improvement. This article delves into the comprehensive data from the 5th Rwanda Population and Housing Census (5RPHC) in 2022, shedding light on the intricacies of the employed population, gender disparities, youth unemployment, and the underlying causes of unemployment. Additionally, it explores strategic responses to mitigate this issue, providing a roadmap for policymakers and stakeholders.   In Nyagatare District, the employment-to-population ratio (EPR) stands at 51.5%, revealing significant labor force participation among individuals aged 16 and above. However, urban-rural disparities are evident, with urban areas boasting a higher EPR of 54.0% compared to 47.9% in rural regions. This data emphasizes the need for nuanced regional st

  image from :  Depression clipart cartoon, Depression cartoon Transparent FREE for download on WebStockReview 2023 In today's fast-paced and demanding work environment, mental health has emerged as a critical aspect of overall well-being. Employers are increasingly recognizing that the mental health of their workforce has a direct influence on business performance. As research continues to shed light on the profound effects of mental health degradation, it becomes imperative for businesses to address this issue proactively. This article delves into the intricate relationship between mental health and business performance, highlighting its impact and providing evidence from various studies. The Link Between Mental Health and Business Performance The concept of "employee well-being" encompasses physical, emotional, and mental health. According to a study published in the Journal of Applied Psychology , employees who experience poor mental health are more likely to ex

image from: https://health.clevelandclinic.org/drinking-are-you-overdoing-it/ Excessive alcohol consumption has far-reaching consequences that extend beyond individual health concerns. From healthcare costs to reduced productivity, the effects of alcohol abuse can significantly impact a country's economic growth. While moderate alcohol consumption might not pose significant economic challenges, it's essential to understand how excessive consumption can lead to various social, health, and economic issues that undermine a nation's economic progress. Healthcare Costs and Economic Strain The link between heavy alcohol consumption and health problems such as liver diseases, cardiovascular diseases, cancers, and mental health disorders is well-established [1]. These health issues contribute to increased demand for healthcare services and the subsequent rise in healthcare costs. Valuable resources that could otherwise be invested in vital healthcare needs are diverted towards

                                  In Rwanda as well as in most global south countries especially those on the African continent, the Dunning-Kruger effect is mostly found among entrepreneurs which leads most of them to close their business activities poorer than when they had started doing their businesses. This phenomenon where people over-estimate their capabilities is mostly found in new and emerging entrepreneurs and it is what leads businesses into failure as the owners of the businesses make decisions that they were not supposed to be making due to lack of counsel and expertise in their field of operations.  Companies and SMEs often face management issues caused by their managing directors who unilaterally takes decisions that are fatal to the businesses, this is due to that these companies are run like hood shops where the managing director is everything in the business.       It’s not surprising that in Rwanda to this date, you can find a company where the managing director doe

In our previous article published on February 2 which talked about the steps one can follow if he or she wants to start his own business , we looked at different steps that one can follow so that he or she can at least get where to start. One of the steps is to choose the right business that fits you , which is what we are going to go through in this article. For us to go together toward achieving better results, take your pen and list down all the business ideas that you have and together we go together towards choosing the best business fitting you.  Are you ready??? Lets go..... The first tip towards picking the best business idea is to always focus on the areas in which you have skills in because this increases your chances to succeed in that particular industry  that you want to join with your business. Yes you might be passionate about a certain industry or kind of business but without having the skills related to it, in this case I would advise you to learn first about that par

Starting a business can be something tiresome, and sometimes confusing because most of the time we are not sure where to start. In this article we are going to look at the basics that one should consider if he or she wants to start his or her own businesses.  The first step is to ask yourself if really you are ready to start your own businesses. Yes , motivational speakers will all tell you that everyone can be an entrepreneur but are you ready to be your own boss? To employ other people? To work very long hours? To handle criticism and pressure? To handle financial difficulties? and if your business is struggling in it's debut won't you just abandon and leave? The hard truth is that not everyone can handle that pressure, some people are very smart and can work for others and live a very good life. But if you are really committed and decided you can start your own businesses.   The next step is to indentify the right business for you, is it in manufacturing, service or etc. It

                                           His name is RICHARD BARIGIRA GOTZEN, he grew up with the mindset that if you want something, you have to work for it. he always dreamed of working in the hospitality industry, and he is currently living his dream to become a best influencer on it and international head of management in our industry. So He has authored Customer Satisfaction of Hotels in Rwanda, and a book that tackles service delivery on customer satisfaction among Rwanda especial at front office department.   In an interview with Economicspa, MR.RICHARD BARIGIRA GOTZEN started saying that according to him "hospitality is an open-door opportunity that provides the people with the skills and goals that they need to thrive while at the same time contributing to Rwanda’s economic development but hotel can only flourish if the industry can employ qualified staff or sustainable workforce which is the heart for excellent and prompt service delivery system. And also today’s