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Latest News Zimbabwe: Is the tyranny over? NASENI invents alternative to voter’s card reader Ekwueme: SGF heads National Burial Committee Anambra PDP kick-starts reconciliation moves •Embraces zoning, fixes dates for state congress Why we won’t send husband killer to prison: Police Prof. Adebayo Williams: Celebrating my Mentor, Beacon of Hope, Inspiration and Voice of Courage, By Friday Olokor 2019: APGA chieftain tasks politicians not to destabilise Imo State over zoning Wall Street Journal’s Africa Bureau Chief to give Keynote Speech at AUN’s 12th Founder’s Day Biafra: FG taking due advantage of our disunity — BNYL Activist petitions Imo Police boss over illegal detention Mnangagwa takes over power in Zimbabwe BREAKING NEWS: Atiku dumps APC

 

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Most ‘wealth’ isn’t the result of hard work

Most ‘wealth’ isn’t the result of hard work It’s time to call the housing crisis what it really is: the largest transfer of wealth in living memory – A US scenario of a rentiering economy.  One of the basic claims of capitalism is that people are rewarded in line with their efforts and productivity. Another is that the economy is not a...... more

The economics of team success

The economics of team success If money does not buy performance, one practical measure is to promote salary fairness among team members. It’s a no brainer to think that talents lead to high performance. That’s why we go after them with money. But does it work for a team? Not necessarily, at least for the English...... more

Why consumption tax may not make any sense at all

Why consumption tax may not make any sense at all The devil in the (accounting) details and the economic effects you often hear calls out there – mostly from right economists, but also from some on the left – for a consumption tax in the United States of America.  As presented, it’s a super-simple idea: tally your income, subtract your saving, and what’s...... more

Bribery, corruption and evolution of pro-social institutions (1)

Bribery, corruption and evolution of pro-social institutions (1) How the science of cooperation and cultural evolution will give us new tools in combating corruption. There is nothing natural about democracy. There is nothing natural about living in communities with complete strangers. There is nothing natural about large-scale anonymous cooperation. Yet, daily we buy coffee from the likes of Starbucks...... more

The most important skill for a successful entrepreneur

The most important skill for a successful entrepreneur One out of every 10 babies in the world is born premature. One million die each year: many due to lack of warmth. And, someone wanted to change all that, saying: “No baby should die from being cold.” This core value was the centre of her team’s project and design for...... more

Killing Inequality (3)

Killing Inequality (3) Yet another obstacle to reform lies in efforts to discourage the bottom 50 per cent from mobilising. Across the world, elites have promoted ideologies that focus the poor’s attention on non-economic flash-points, such as culture, ethnicity and religion. They also spread conspiracy theories that attribute chronic inequalities to evil-doers, real or imagined. Today’s populist...... more

Killing inequality (2)

Killing inequality (2) Some countries have found ways to reduce inequality without a catastrophe. Giant corporations also play massive roles in advanced democracies. In these countries, the military and the police are constrained by various institutions, and politicians must maintain popular support to stay in power. But it is one thing for citizens to...... more

Fidelity Bank, Empretec empower 300 youths in bid to create the next Dangote

Fidelity Bank, Empretec empower 300 youths in bid to create the next Dangote Fidelity Bank Plc, top Nigerian lender in strategic partnership with Empretec Nigerian Foundation on Monday commenced a graduate entrepreneurship training programme for 300 youths in Abuja, the Federal Capital Territory (FCT). This initiative which is part of the bank’s entrepreneurship support intervention for state governments and Micro Small Medium Enterprises (MSMEs)...... more

Killing inequality (1)

Killing inequality (1) Redistribution’s Violent History: World War II devastated the economic infrastructures of Germany and Japan. It flattened their factories, reduced their rail yards to rubble, and eviscerated their harbours. But in the decades that followed, something puzzling happened: the economies of Germany and Japan grew faster than those of the United States, the United Kingdom, and...... more

The easiest way to return to the Golden Age

The easiest way to return to the Golden Age The easiest way to return to the Golden Age tranquility and equality is to empower fiscal policy. During the post-war Golden Age, from 1950 to 1973, US median real wages more than doubled. Today, they are lower than they were when Jimmy Carter was president. If you want an explanation why Americans...... more

Bayelsa in massive job creation

Bayelsa in massive job creation The Bayelsa Government said on Thursday in Yenagoa that it created over 7,000 direct and indirect jobs through the release of N1.88 billion loan to Small and Medium-scale to entrepreneurs and cooperatives. Gov. Seriake Dickson stated this at the 2017 African SME EXPO with the theme `Promoting SMEs for sustainable development...... more

Team success and the limitations of talent

Team success and the limitations of talent If money doesn’t buy performance, one practical measure is to promote salary fairness among team members. It’s a no brainer to think that talents lead to high performance. That’s why we go after them with money. But does it work for a team? Not necessarily, at least for the English Premier League...... more

How Low-paying Jobs, Weak Safety-nets Reduce Innovation, Productivity

How Low-paying Jobs, Weak Safety-nets Reduce Innovation, Productivity Given the structure of our social safety nets, automation tends to increase poverty and inequality rather than unemployment. People are worried about robots taking over jobs. Driverless cars are around the corner. Restaurants and shops increasingly carry the option to order by touch-screen. Google’s clever algorithms provide instant translations that are...... more

Jobs: Kaduna State Government announces recruitment exercise

Jobs: Kaduna State Government announces recruitment exercise The official twitter handle of Kaduna state government in a tweet has said that they are currently recruiting. The tweet which was retweeted by the Governor of the state, Nasir El-Rufai, contains a memo to that effect and it reads “The Kaduna State Internal Revenue Service (KADIRS) is recruiting!” (Daily Trust)...... more

Why groups fail (2)

Why groups fail (2) The solution to that puzzle is a process of selection among groups in a multi-group population. Once again, the logic is relentlessly relative, which means that a group can sabotage a multi-group organisation as easily as an individual can sabotage a group. MLS theory doesn’t make everything nice, but it does...... more

Why groups fail (1)

Why groups fail (1) To solve the problem of abuse by power-hungry leaders, the first step must be the adoption of a world-view that makes it obvious. Some experiments are like a good play, compressing profound truths into compact form. That is how I felt when I read a 2010 article in the Journal of Personality...... more

The need for simplicity and transparency

The need for simplicity and transparency The newest Wall Street bestseller by Michael Lewis – Flash Boys – chronicles the unlikely emergence of fairness in the corrupt world of high-frequency trading (HFT). It’s a gripping and enlightening read for anyone who doesn’t already know the story; but it becomes especially enlightening when viewed through the lens of evolutionary game...... more

Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (3)

Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (3) But that’s hard. Of course, it’s hard. Not the least because this whole adventure is so heavily medicated with foosball tables, game rooms, and bean-bags of all colours. As many distractions as possible, from having to consider the true nature of what we’re doing. What’s that about the rising automatron class?...... more

Job creation: Sultan commends Tony Elumelu, Foundation

Job creation: Sultan commends Tony Elumelu, Foundation The Sultan of Sokoto, Sultan Muhammadu Sa’ad Abubakar III, commended the Tony Elumelu Foundation and its Founder, Tony O. Elumelu, for their contribution to entrepreneurship and creation of jobs for young people in the North. The Sultan made the commendation during a courtesy visit paid by Tony Elumelu, Chairman of UBA...... more

Ambode acquires rice mill from Switzerland, targets creation of 200,000 jobs

Ambode acquires rice mill from Switzerland, targets creation of 200,000 jobs Lagos State Governor, Mr. Akinwunmi Ambode, on Friday in Zurich, Switzerland, led a team of the State Executive Committee members to sign an agreement with Bühler AG, a leading rice-mill producer in the world, for the acquisition of a 32 tonnes per hour Rice Mill. The Governor, who spoke shortly after...... more

50,000 applicants jostle for 100 aviation jobs

50,000 applicants jostle for 100 aviation jobs The Rector of the College of Aviation Technology, Zaria, Captain Abdulsalami Mohammed, has revealed that Fifty Thousand job seekers have applied for the hundred staff vacancy available in the institution. Mohammed while encouraging the twenty six thousand applicants who were eventually selected to write the Computer Base Aptitude Test, yesterday, at...... more

Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (2)

Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (2) Engagement, of course, is not a new pursuit. It’s just the latest euphemism for what we used to call capturing eyeballs. But I guess that was a bit too blunt and honest to survive the sanitisation of the industry. The collective ecosystem learns and adapts at an incredible pace, including how...... more

Agriculture, access to electricity, entrepreneurship will create jobs in Africa: Elumelu

Agriculture, access to electricity, entrepreneurship will create jobs in Africa: Elumelu  The Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Tony O. Elumelu, CON, has called on African leaders and development institutions to help address the deepening job and employment crisis bedevilling the continent by lending support and paying more attention towards the agricultural sector, creating access to electricity...... more

Minister hails Tony Elumelu’s commitment to job creation, poverty alleviation

Minister hails Tony Elumelu’s commitment to job creation, poverty alleviation Minister of Labour and Employment, Chris Ngige, has commended the relentless efforts of the chairman, Transnational Corporation of Nigeria Plc (Transcorp), Tony O. Elumelu CON, towards job creation as a strategy for poverty alleviation in Nigeria and Africa. “I am here because Tony Elumelu creates jobs. I take interest in those...... more

Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (1)

Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (1) There is no higher god in Silicon Valley than growth. No sacrifice too big for its craving altar. As long as you keep your curve exponential, all your sins will be forgotten at the exit. It’s through this exponential lens that eating the world becomes not just a motto for software...... more

FG commits to creating more job opportunities

FG commits to creating more job opportunities The Acting President, Professor Yemi Osinbajo, says the Federal Government is committed to solving the problem of youth unemployment in the country. Professor Osinbajo said this when he paid a visit to The N-Power Resource Centre in Abuja. He said although the scheme has not been able to absorb all those...... more

Business Schools’ Worst Idea: Why ‘Maximise Shareholder Value’ Theory Is Bogus, Encouraging Underinvestment (2)

Business Schools’ Worst Idea: Why ‘Maximise Shareholder Value’ Theory Is Bogus, Encouraging Underinvestment (2) A recent study by McKinsey & Company, the blue-chip consulting firm, and Canada’s public pension board, found alarming levels of short-termism in the corporate executive suite. According
to the study, nearly 80 per cent of top executives and directors reported feeling the most pressure to demonstrate a strong financial performance over a...... more

Business Schools: Why ‘Maximise Shareholder Value’ theory is bogus, encourages underinvestment (1)

Business Schools:  Why ‘Maximise Shareholder Value’ theory is  bogus, encourages underinvestment (1) Many elite professionals are deeply upset with US President, Donald Trump’s win. Yet the ideology that he represents is very much in line with the logic of corporate raiders, many of whom, like him, went to Wharton Business School. And many elite professionals, in particular lawyers and consultants, profited handsomely from...... more

The BIG strategy that promises to eliminate poverty, vastly improve lives

The BIG strategy that promises to eliminate poverty, vastly improve lives The Basic Income Guarantee (BIG) is back in the news. The Finns are considering implementing it, as are the Swiss replacing all means tested benefits with a simple grant to every citizen, giving everyone enough money to survive. Unlike most current benefits programmes, it is not contingent on being worthy or deserving...... more

Foundation trains 120 youths on entrepreneurial skills

Foundation trains 120 youths on entrepreneurial skills Intafact Hero’s Foundation has concluded the business training of 120 youth entrepreneurs drawn from eight participating states of Anambra, Abia, Benue, Delta, Edo, Ebonyi, Enugu and Imo states. The programme, which is a Corporate Social Investment (CSI) initiative of Intafact Beverages Limited, is aimed at developing a local culture of entrepreneurship among...... more

 

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