Context In today’s world, human capital plays a prominent role in determining the country’s competitive advantage. Fast technological progress, including digitalization and artificial intelligence (AI), puts human capital i.e. the knowledge and skills of the population in the forefront of the country’s economic progress. The World Economic Forum (2019) argues that talent adaptability is critical,…
DetailsPolicy Contributions 2 2020
It all began as a health crisis, far from Europe and Macedonia, but Covid-19 quickly lead to a global economic crisis. Stock markets crashed, oil prices dropped sharply, production stopped, factories and shops began to close, and workers were sent on forced leave. The crisis has just begun and companies are already making losses, facing…
DetailsIn Economics, wages are considered as price of labor. They should reflect worker’s productivity, i.e. what the worker produces or what is his/her value to the company. Wages are important as they largely affect the living standard of workers and their families, but are also a source of demand in the economy, and hence are…
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