31/1/16 3:24 PM // late post but that’s because the tumblr app’s doing the thing where it doesn’t post :( anyway, this is a photo from my economics study sesh at Starbucks for a time trial last Thursday.
“The large cohort of youth entering Africa’s labour force is the best educated one the continent has seen, and Africa is witnessing its best growth performance in decades”
Unemployment is considered a ‘luxury’ in Sub-Saharan Africa. So, in the absence of formal wage jobs, the youth of SSA are exploiting their talents in innovative ways in the informal sector: in agriculture and household enterprises. How should economic policy in Africa shift to reflect youth employment in the informal
Image credit: pull cart kid child by Foundry. Public domain via Pixabay.
First, some context. Exit polls from Iowa, according to Vox, show
that “Sanders absolutely dominated young adult voters, in a way that
even Barack Obama couldn’t in 2008.” Eighty-four percent of voters under
thirty, and 58 percent of voters between thirty and forty-four, cast
their ballots for Sanders. More generally, as countless articles have
noted, younger voters are shifting left, embracing ancient taboos like
socialism and other heresies…
People who don’t understand economics will be thoroughly baffled by this new data. As it turns out, when salaries are based on anything but fair market value, job markets take a dive. Government bureaucrats and labor union lobbyists fail to understand this time and time again, and the people who stand in the picket lines demanding a higher wage don’t realize that they’re really killing their own chances of getting a job at all.
Here’s the underlying issue: capitalism, as it is now, is a fucking disaster. The people who do not want to change it are the people who benefit the most from it. When someone like Bernie Sanders who has 40+ years’ experience comes along and says, ‘hey…this shit doesn’t work,’ there needs to be a lid put on capitalism by way of regulation. People like Hillary who obviously benefit from unchecked capitalism become threatened. They start shit talking. They claim that Bernie’s ideas are a fucking pipe dream… hmmm. Seems to me this nation was at its peak when unions were strong and the wealthiest were taxed at rates significantly higher than now. The claim that Bernie doesn’t have a clue is false, as a lot of what he talks about adds up to things that have already been done and have been done successfully. Regulation is the key to longevity, and establishing better equality is also key to the overall strength of this nation.
trying to do some econ learning/studying. my teacher at school is terrible, he literally spent 5 minutes teaching the whole week (and the rest discussing his life/star wars??), so i gotta learn it myself. wish me luck!