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Labor Exploitation in the Textiles Industry
By Vaasav Gupta Introduction Textiles, or fiber-based materials, are heavily involved in several industries such as clothing, furniture, and art. And while it has always been critical to the global economy, the textile industry is growings – it is expected to reach a market size of $1.42 trillion by 2030 1. Particularly in the clothing…
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.…
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…
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…
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…
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…