All posts by Niharika Sharma

Germany Tumbles Down Into Recession

What Is Happening?

 

Fall in the industrial production in Germany has landed the nation into recession. As defined by National Bureau of Economic Research (NBER)’s Business Cycle Dating Committee, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators (Fund).

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Probability of eradicating poverty is getting closer to 1.

Poverty has always been holding mankind from achieving its potential. The inability to maintain the basic levels of survival is still high among 1.85 billion people of the world today. Poverty has been rising faster than the economic policies to eradicate them, even when the rich like Bill Gates, donate most of their incomes to charities. It turns out that just making these physical resources available to the poor, plays very little in uplifting them as has been proven by this year’s Nobel Prize Winners, Abhijit Banerjee, Esther Duflo and Michael Kremer.

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