Author name: accountancy

Accountancy

Economics

Gig Economy: Redefining Work in the 21st Century

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The gig economy—characterized by short-term contracts, freelance work, and on-demand jobs—has rapidly reshaped the global labor market. Powered by technology platforms like Uber, Upwork, and Fiverr, gig work offers flexibility and autonomy but also raises new economic, legal, and social challenges. This article examines the growth of the gig economy, its economic impacts, worker experiences, regulatory responses, and what the future of work may look like in a platform-driven world. What Is the Gig Economy?…
Economics, Finance

Financial Literacy and Economic Growth: Building Smarter Societies

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Financial literacy—the ability to understand and effectively use financial skills such as budgeting, investing, and risk management—is increasingly recognized as a key driver of personal well-being and national economic performance. In an era of complex markets, digital finance, and growing wealth gaps, empowering citizens with financial knowledge has profound implications for economic stability, social mobility, and long-term growth. This article explores the relationship between financial literacy and economic development, real-world data, and policy strategies to foster financially capable societies.…
Economics

The Economics of Aging Populations: Challenges and Opportunities

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Across much of the developed world—and increasingly in emerging economies—populations are aging at unprecedented rates. Longer life expectancy combined with declining birth rates is reshaping labor markets, public finances, healthcare systems, and economic growth trajectories. This article explores the causes and consequences of demographic aging, assesses its fiscal and macroeconomic impact, and discusses policy strategies to turn aging from a burden into an opportunity. Global Demographic Trends According to the United Nations, by 2050: 1 in 6 people globally will be over the age of 65 (compared to 1 in 11 in 2019) The number of people aged 80 or older will triple to 426 million Several countries (e.g.,…
Taxation

Behavioral Economics and Tax Compliance: Insights into Why People Pay (or Avoid) Taxes

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Traditional economic models assume that individuals respond rationally to tax incentives, penalties, and audit probabilities. However, real-world tax compliance behavior often deviates from purely rational predictions. Behavioral economics introduces psychological, social, and cognitive dimensions to understanding taxpayer behavior. This article explores how behavioral insights enhance tax policy design, improve compliance rates, and contribute to more effective revenue collection strategies. The Limits of the Traditional Rational Model According to the standard Allingham-Sandmo model, individuals calculate the expected value of evasion based on audit probability and penalties versus the tax they owe.…
Economics

Time Banking: An Alternative Economy Built on Time, Not Money

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As inequality, automation, and inflation reshape the global economic landscape, communities are turning to creative alternatives to traditional currency-based systems. One such model is time banking—a form of reciprocal service exchange where the unit of value is time rather than money. This article explores the origins, mechanics, economic implications, and social benefits of time banking, offering insight into how it challenges conventional economic principles while fostering community resilience. What Is Time Banking?…
Finance

The Shadow Banking System: Structure, Risks, and Regulatory Challenges

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The term “shadow banking” refers to credit intermediation outside the traditional banking system. Though it lacks a formal definition, the shadow banking sector includes hedge funds, money market funds, structured investment vehicles (SIVs), peer-to-peer lenders, and other non-bank financial intermediaries. This article examines the rise of the shadow banking system, its role in financial markets, the systemic risks it poses, and the regulatory complexities in managing this parallel financial universe. What Is Shadow Banking?…
Accounting

Public Debt and Fiscal Sustainability: Risks, Realities, and Reform Strategies

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Public debt is a critical tool for governments to finance infrastructure, respond to economic shocks, and support development. Yet rising debt levels globally—exacerbated by pandemic stimulus, inflationary pressures, and geopolitical instability—have renewed concerns over fiscal sustainability. This article explores the economics of public debt, evaluates debt sustainability indicators, examines risks for advanced and emerging economies, and outlines reform strategies for maintaining debt within safe limits. Understanding Public Debt and Its Composition Public debt refers to the total financial liabilities owed by the government, typically divided into: Domestic debt: Borrowed from local markets in local currency (e.g.,…
Economics

The Economics of Space Exploration: Investment Beyond Earth

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Once the domain of Cold War rivalry and government prestige, space exploration is now entering a new economic frontier driven by commercial investment, technological innovation, and global collaboration. From satellite internet to lunar mining, the “space economy” is projected to surpass $1 trillion by 2040. This article explores the economic foundations of space exploration, the rise of private players, funding models, geopolitical implications, and the long-term return on investment of reaching beyond Earth.…
Finance

Algorithmic Trading: Reshaping Financial Markets with Code

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Algorithmic trading—also known as algo trading or automated trading—has transformed global financial markets by enabling the execution of trades at speeds and volumes far beyond human capability. With roots in quantitative finance and advancements in machine learning, algorithmic trading now accounts for the majority of trading volume in major equity markets. This article explores the mechanics, strategies, advantages, risks, and regulatory implications of algorithmic trading in the 21st century. What Is Algorithmic Trading?…
Economics

Universal Basic Income (UBI): Rethinking Social Welfare in the 21st Century

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As automation, globalization, and inequality reshape the global labor market, the idea of a Universal Basic Income (UBI)—a regular, unconditional cash payment to all citizens—has gained traction across ideological lines. Advocated by both tech visionaries and social justice movements, UBI proposes a radical shift in how governments support livelihoods. This article examines the economic rationale for UBI, real-world experiments, funding models, criticisms, and its potential to transform the future of work and welfare.…
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