Despite the political backlash and uncertainty for the macroeconomy brought upon by their plan, the Biden Administration remains steadfast in its argument that it is a vital step for Americans in the ultimate goal of solving the student debt crisis. Moreover, they believe it to be an efficient and sustainable solution — they maintain that because of the high default rates for student loans, the actual cost of the debt forgiveness plan will be lower than the theoretical expectation; however, the specifics of that value have proven to be difficult to calculate.
A “small” industrial city in China became known on the internet due to its extremely affordable housing prices. While the development paths of former resource cities remain uncertain, Jessica Yu argues that the experiences of the city of Hegang will likely serve as a defining example of how China’s industrial cities can revive through “alternative” development paths.
The last thing the current U.S. environment of high mortgage rates and inflation needs is a Category 4 storm like Hurricane Ian. Set to cost an estimated $65 billion in damages, 2022’s latest disaster signals how much worse things could get given the current trajectory of climate change.
Despite complaints against its payment methods and streaming rate methodology, Spotify has remained headstrong in the treatment of creators on its platform. While the effects of the pro-rata system are looked down upon by many artists in the industry, Spotify maintains that the system encourages an inclusive market that rewards success and allows for those that work the hardest to gain notoriety and artistic standing.
Supported by reselling platforms such as StockX and GOAT, anyone with access to the Internet could resell sneakers and earn a significant profit. However, within the last year, profit margins for sneaker resellers have decreased across the board, a trend that has negatively affected the sneaker community and ultimately pushed away prospective sneakerheads from entering the resell game.
Blue economies provide a sustainable way forward for developing countries and island economies to formalize their institutions and industries. Seeing as Africa is in desperate need of ensuring its economic growth, a good blue economy framework would establish Africa as an international trade hub and help global supply chains.
Downward trends in enrollment have had a ripple effect at institutions across the country. As decreases in enrollment continue, schools are feeling pressure to keep tuition affordable. Although inflation has pushed up the prices of most goods and services, the necessity for more students has incentivized institutions to keep tuition prices relatively low.
The cost of education has increased by over 100% in the last 20 years—a much higher rate compared to most other industries. This increase in the cost of education is paralleled by the increasingly widespread mentality that you need a college education in order to earn a good living. While this may generally be true across many industries, a college education does not reap the same value for every individual.
A plethora of problems stemming from the COVID-19 pandemic have surfaced in America, leading the country towards an economic decline. These problems—including stagnating wages and a downward spiral in the production of goods—span across the board, affecting several sectors of the American economy. Together, they converge into the perfect storm, plaguing America with economic issues reminiscent of those of the 1970s.