In economics, individuals act based on the idea that the benefits of their actions will outweigh the costs. An individual will forgo one option for another and the benefits he or she could have received are called the opportunity costs.
A prime example of this can be seen in students’ decisions to pursue higher education.
Instead of
Business leaders and American citizens view the importance of a college degree very differently. Approximately 70 percent of Americans believe that having a bachelor’s degree remains essential for getting a good job. Unfortunately, business leaders are not so optimistic: only 33 percent believe that U.S. colleges provide graduating students with the skills their businesses need.
On April 18, 1949, bells and celebrations erupted in Ireland. Thirty-three years after the beginning of the Easter Rebellion, the Republic of Ireland Act came into force, severing the last constitutional link to England and the British monarchy. This was followed by the Ireland Act of 1949, in which Britain conceded its former role and
Well-informed citizens are important for the preservation of democracy. So much so, the Founding Fathers protected the press in the First Amendment. Since even before the foundation of the United States, people have been using the press, media, and journalism to inform and influence others. Journalism has seen many changes since then. One change involves
Over $2 billion was donated to the U.S. presidential candidates in the 2012 election. After the donations had come in and most of the money had been spent, nearly 60 percent of eligible voters in the United States turned out on Election Day to cast their ballots in the presidential race. Open elections are ways
Some might argue that greater convergence of international wages is essential for the achievement of a more just and balanced world economy. The perceived injustice of a system where 0.00000004% of the world’s population has as much wealth as the poorest 42% of the world’s people is a cause for alarm. True sustainability of both
Microfinance has proved its value in many countries as a major means of alleviating poverty. It has the potential to change people’s lives for the better, as innovation and creativity are found everywhere and people start companies based on their entrepreneurial leanings. Out of a world population of seven billion, almost 60 percent are poor
What is a nation? This simple question has been at the heart of political philosophy and historical debate for hundreds of years. Is a nation the sum of its actions or an entity defined by those who make up that nation? And when exactly does a nation qualify to emerge on the world stage to
Imagine that you are online and all of the sudden you have the urge to participate in a lottery. A day later, you discover that you have won $100 million. You now have it made, right? Actually, according to the National Endowment for Financial Education, up to 70 percent of people who unexpectedly gained large
According to research conducted by the Cox Family Enterprise Center, 80 percent of the world’s businesses are family-owned, and 60 percent in the U.S. In fact, in this country, family-run businesses account for more than half of the gross domestic product.
Perhaps neither of the first two statistics are surprising. But, consider that nearly 35 percent
On March 26, the value of shares in King Digital, maker of Candy Crush, fell 16 percent in its first day of trading on the New York Stock Exchange. Some people lost a lot of money on this company that makes games. At the same time, lots of others have done very well, as managers and early
In the fight against poverty, few issues are more contentious than the allocation of the billions of dollars set aside to help those in need. Whether the money comes from private donations or state tax revenues, arguments over how to use the monies arise both in domestic and international politics. This debate usually focuses on balancing
James Lee Sorenson donates $13 million to the David Eccles School of Business at the University of Utah for the creation of the James Lee Sorenson Center for Global Impact Investing Tuesday, Jan. 15, 2013. (Scott G Winterton, Deseret News)
Philanthropy in Utah took a large step on Jan. 29 when the business school at the
From the year 2009 through 2012, “crowdfunding,” a new type of fundraising, grew 91 percent in its worldwide funding volume. Over those four years,its funding volume increased from $530 million to $2.8 billion. What is this fast-growing fundraising phenomenon? It involves a combination of the Internet and social networking to attract a wide variety of interested donors and investors to
As Africa awakes to its enormous promises and confronts the challenges that it must surmount, the recent World Economic Forum Africa Summit in 2013 reflected on how Africa’s entrepreneurs can be transformed into global champions.
The key points that emerged were that, though entrepreneurship is growing rapidly in Africa, there are significant difficulties and barriers that entrepreneurs must confront. Lack of access
Energy, environment, food production, and healthcare are some of the top challenges in the world that are being confronted by the faculty and students at the University of Wisconsin – Madison and other campuses of the UW system as part of a study abroad class on social entrepreneurship being taught at Oxford University this August
May 2013
It is amazing how much change can be caused by one person’s idea and the Meltwater Entrepreneurial School of Technology (MEST) is a result of Jorn Lyseggen’s idea that with guidance and support people can achieve remarkable results. Established by the non-profit Meltwater Foundation in Accra, Ghana in 2008 as an effort to create jobs and wealth locally
“With power comes responsibility – it is as simple as that” said Professor Peter Tufano as he welcomed visitors to a discussion about business leadership and responsibility to celebrate the creation of the Kim B. Clark Fellowship in Responsible Leadership at Saїd Business School at Oxford University on September 7th. “Business organisations have power. How should
This is a tale of two development models used by northern Mexican cities. Both of them are located in the state of Chihuahua; one of them can be considered a success and the other, although it had a recent turnaround, has seen a bitter and brutal chapter of its history unfold during the last decade.
