Ojonugwa Julius Akubo's Blog

Its actually simple but requires determination and focus. If only our graduates will recognize that they don't have to wait for the government or the existing firms to become employed we would have less people complaining about unemployment in this generation. In the first place why do people want to be employed if it is not basically for money and fulfilment? If that is the case,then the way out is simply to look for needs around us that we can solve. Once there is a need there is employment and all we have to do is simply  find a way of meeting the needs at the lowest possible cost and we are already creating employment. Who says u must start big? You know what, has it ever occurred to you that your mega business can be scaled down to the minimum cost? There is something you as a person can do that everybody needs Yes you may not have the capital but you have the market so,get the market to finance the business . I once heard a great business guy said, he borrowed money from t...

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Introduction Globalization is the process by which countries and nations integrate socially and economically through the sharing of ideas, concepts goods and services. It simply emphasises trade between countries in such a way that there are no forms of barriers. Globalisation basically is believed to be a fertilizer to economic growth and development but over the years it has being contrary to most developing and third world countries hence the need for a closer review of globalisation and Nigeria as a developing country. What about Globalization ? According to Adams smith globalization or openness in the economy fosters world peace. It’s also believed that globalization coupled with liberalization and deregulation brings about competition which eventually results in economic growth and efficiency. That notwithstanding globalization has some negative effects on the countries on the weaker sides of every global activity like overdependence on foreign countries, debt ...

The government has been criticised by so many critics as being a poor manager of business and we often hear statements like “the Government has no business in business”. Owing to such criticisms the government came up with the issue of privatisation whose benefits and shortcomings we shall be analysing critically in this paper. Privatisation goes beyond the mare activity of ownership transfer as this singular action is capable of determining the fate of the populace attached to such ventures either directly or indirectly. Privatisation in the first place is the transfer of assets from the public (government) to the private sector. In other words it’s when the government transfer its authorities and control over a particular assets of his to a private body. This action arises not because the government is a “father Christmas”; it’s rather due to some expected benefits or existing inabilities by the governments. Knowing this we shall now discuss ...

Without any atom of doubt we can considerably say that the speed of technological evolution in the world of today has been very spontaneous which originally shouldn’t be a problem. But the rate of its acceptance by so many nations of the world may eventually end up in incapacitating the labour sector of these countries which is an indicator of danger. Labour as we know is the most perishable factor of production in that its service has got a time space (18 years to 65 years). It’s also the longest to generate when it comes to time of creation. The time it will take to produce sixty same types of machines is far lesser than the time it will take to build up a single labour for effective service. That notwithstanding labour is the most important factor of production at such any activity that will terminate the need of labour should be well evaluated before its being accepted. And this evaluation should involve a critical analysis of the nature of the country in question...

This,is an economic system or theory that Was postulated by a political economics professor Leon walras .the system basically seeks to explain the economy based on the general equilibrium theory and marginal utility. The system is to encompass the whole field of value and price in a much more comprehensive manner than had been presented by any previous economist . He assumed perfect competition and uniformity of price throughout the given market and mathematically demonstrated that general equilibrium in such a market requires certain conditions to be satisfied listed thus: Each individual will have a utility curve for each good and service offered in the market The individual will maximise his utility through exchange and That he will obtain the greatest possible satisfaction when the prices paid in the exchange are proportional to the marginal utility of the good purchased. In general he said that the basic laws which are at work bring about the equilibrium in the market. The...