Economic Development

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Insurance Industries in Low-Income Nations

By Vaasav Gupta Introduction Insurance markets are critical to any nation’s socioeconomic health. On an individual level, it provides benefits in many aspects: it ensures financial stability and protects from unexpected occurrences that may otherwise create financial difficulties by transferring risks from individuals to large insurance corporations. Because of this, insurance is a large industry.…

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Challenges Facing Developing-Economy Entrepreneurs in the 21st Century

By Vassav Gupta Introduction Particularly in today’s fast-paced global economy, entrepreneurship is vital to any nation’s socioeconomic health. Entrepreneurial success leads to innovation, higher employment, and happier consumers – all of which stem from greater competition. As Austrian political economist Joseph Schumpeter famously theorized in 1942, economies naturally go through “creative destruction,” the process by…

Credits: Picture by Benjamin Lowy

Child Labor and Slavery in the Chocolate/Cocoa Industry

By Stephanie Bechara Chocolate, a product of the cocoa bean, remains one of the world’s most popular snacks. In 2020, 268.09 million Americans alone consumed chocolate and other candies (Wunsch, 2021). While chocolate may be a joy stimulant when consumed in moderation, the conditions faced by the people who grow cocoa may not be as…

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The Economic Implications of the Russia-Ukraine Conflict

By Vaasav Gupta Introduction ​On Thursday, February 14, Russia commenced a large-scale military invasion of Ukraine. The aggression was not unexpected, as in the weeks prior Russia had built up a significant military presence around the Ukrainian border. However, the invasion was still a significant moment for both nations as it marked an escalation of…

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The Asymmetrical Impact of COVID-19

The Impact of COVID-19 on Developing Economies, Low-Income Nations, and Marginalized Populations By Vaasav Gupta Introduction The Coronavirus, widely referred to as COVID-19, was first discovered in Wuhan, China. The spread of this disease was officially declared a pandemic by the WHO in March of 2020. Since its discovery, the COVID-19 pandemic has taken over…