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Cartels and Collapse – The Deep (Economic) Impact of Asteroid Mining

Written By: Finn O’Connor

The IPCC (Intergovernmental Panel on Climate Change) report released in late March has once again spurred discussion on how we can reconcile humanity’s massive consumption with the relative continuation of our way of life (1). One solution that has long been discussed is the possibility of harnessing resources outside the terrestrial ecosystem to bolster our scarce supply. The most attractive place to start this process is with asteroids; mineral-rich rocks that orbit our sun. Companies like Planetary Resources and Deep Space Industries cropped up in recent years intending to harvest asteroids for their resources and transport them back to Earth. However, they have barely begun the exploratory stage, where probes are sent to assess the composition of target asteroids (2). Continue reading…

Tech Layoffs: How it Happened and What are the Lessons for the Future?

Written by: Gurkomal Gill

While 2023 already started with great skepticism on whether there will be an economic downturn, it was tech layoffs that grabbed everyone’s attention. The post-pandemic phase saw recruiters going on a hiring spree with millions of job openings in a tight labor market (1). However, the statistics for tech sector say otherwise. Over the past year, several technology companies including big names like Microsoft, Meta, Amazon and Twitter have laid off more than 100,000 employees and the sector might see more downsizing in the future (2). Not only were there layoffs but many saw their offers being rescinded before the start of new jobs (3). Was it a sudden development or something that was forthcoming?
Here are the layoff statistics for major technology companies (4):
Continue reading…

Unemployment after the Recession

Written by: Sneha Elavarasan

As the world continues to grapple with the effects of the COVID-19 pandemic, economists are predicting that an upcoming recession is looming. The economic fallout caused by the pandemic has been unprecedented, with entire industries coming to a standstill and unemployment rates soaring. While the world economy showed signs of recovery towards the end of 2021, the emergence of new variants of the virus and the reintroduction of lockdown measures in several countries has once again cast a shadow over the global economic outlook (1). The pandemic has caused major disruptions to the labor market, with many people losing their jobs due to business closures and reduced demand for goods and services (2). In this article, we will explore the upcoming recession and its impact on unemployment statistics. Continue reading…

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