Corruption has traditionally been at the basis of economic crises, inequality, forced migration, and violence, among other things. People die as a result of corruption when poverty increases, or when the medications they are given are old or of poor quality due to corrupt health officials, or when a bribe allows a businessman to bypass certain procedures and standards.
Inflation has now become a global issue which is threatening to further put pressure on household budgets. Naturally causing the poorest people to feel this pinch the most, especially in countries that are reliant on food imports like Trinidad and Tobago.
Shorter work weeks have lately been recommended as a way to sustain high employment in the aftermath of the Covid-19 outbreak (Frey et al, 2020). The assumption is that, similar to an extended furlough system for industries heavily hit by the pandemic, this would avert layoffs and facilitate a longer-term shift to more desirable patterns of working hours.
Our neighbouring islands have so much to offer. Each can boast of their unique flora and fauna, Festival and Culinary (gastronomic) Tourism. Geographically we are so close, yet, when it comes to traveling and the cost involved, we can feel so far. After speaking to many people in Trinidad and Tobago about their travels within the Caribbean, it’s no surprise that most have visited no more than two islands within the region.
In the context of COVID-19 where there has been income losses and increased food prices due to movement restrictions, there is the creation of local shortages and higher food prices, which makes ensuring food security now and in the future more important than ever.
The current global climate crisis refers to the long term negative changes that are taking place around the world as a consequence of climate change and global warming. Changes that are resulting in the modification of global temperatures, weather, and sea levels among other key environmental indicators. The consequences of these changes present an urgent threat to humanity as we know it, threatening our air, water, and food resources.
In order for the human body to recover when it becomes injured it needs to repair the broken blood vessels and grow new tissue, and red blood cells are integral in providing a foundation for this healing process. So, what does this have to with economics?
Due to Trinidad and Tobago’s proximity to the crisis-stricken nation, we have experienced a significant amount of legal and illegal immigration of Venezuelans that are fleeing the exponentially deteriorating way of life in their native land. The mass migration of Venezuelans has now shown that they are one of the single largest population groups displaced from their home.
“No society can surely be flourishing and happy, of which by far the greater part of the numbers are poor and miserable.”
~ Adam Smith, 1776
Some persons may have been expecting that perfect Maraval condo to drop to their desired budget since Covid-19 hit our shores, but in reality that price would hold firm for quite some time because of the endless demand for the area. Instead of waiting for the ideal real estate market here are few tips to navigate through the current and potentially daunting real estate jungle as a young adult.