Kenya has about 500 youth polytechnics and is ambitiously pursuing a policy that will see setting up of at least one polytechnic in each county in an effort to train more artisans. While it is ambitious the policy might well be misguided as the Technical Vocational Educational Training Systems (TVETS) in Kenya are mostly supply driven and strained in resources and expertise. The move might only serve to replicate institutions that are ill equipped, blind to market status quo and costly to the taxpayer. During a round table meeting organized by the Institute of Economic Affairs and Fredrich Ebert Stiftung, to unpack the German version of TVETS, a lot of valuable lessons were revealed. The German Dual system that is carried out through a definite co-ordination between government and private firms is accredited for very low unemployment rate among German youth and a sustainable TVETS that continues to bring out fully backed competent artisan.
In the IMF WEO published yesterday, the IMF elaborated its macroeconomic framework for the ongoing IMF program. The numbers clarify how the program, derailed by the mid-year Gen-Z protests, has been adjusted to make possible the Board meeting for the combined 7th and 8th Reviews scheduled for October 30. The adjustments, unfortunately, again raise profound […]
Daron Acemoglu, Simon Johnson, and James A. Robinson won the 2024 Nobel Prize in Economics for their research on how a country’s institutions significantly impact its long-term economic success.[1] Their work emphasizes that it’s not just about a nation’s resources or technological advancements but rather the “rules of the game” that truly matter. Countries with […]
The World Trade Report 2024 was launched at the start of the WTO Public Forum 2024 in Geneva titled “Trade and Inclusiveness: How to Make Trade Work for All”[1], and this blog will seek to highlight some of the most profound insights. The report delves into the crucial relationship between international trade and inclusive economic […]
The Price Control Act of 2011, with its imposition of price ceilings on essential goods, represents a significant intervention in the natural forces of supply and demand that govern a free market. The Act empowers the Minister to control the prices of essential goods, preventing them from becoming unaffordable. The Act outlines a specific mechanism […]
The earliest proposition of fiscal consolidation can be traced back to the Keynesian theory which argues that fiscal austerity measures reduce growth and increases unemployment through aggregate demand effects. According to this theory, government undertaking contractionary fiscal policies of either reducing government spending or increasing tax rates, will eventually suffer a reduction in aggregate demand […]
Post date: Fri, May 24, 2013 |
Category: General |
By: Otiato Guguyu, |
Kenya has about 500 youth polytechnics and is ambitiously pursuing a policy that will see setting up of at least one polytechnic in each county in an effort to train more artisans. While it is ambitious the policy might well be misguided as the Technical Vocational Educational Training Systems (TVETS) in Kenya are mostly supply driven and strained in resources and expertise. The move might only serve to replicate institutions that are ill equipped, blind to market status quo and costly to the taxpayer. During a round table meeting organized by the Institute of Economic Affairs and Fredrich Ebert Stiftung, to unpack the German version of TVETS, a lot of valuable lessons were revealed. The German Dual system that is carried out through a definite co-ordination between government and private firms is accredited for very low unemployment rate among German youth and a sustainable TVETS that continues to bring out fully backed competent artisan.
In the IMF WEO published yesterday, the IMF elaborated its macroeconomic framework for the ongoing IMF program. The numbers clarify how the program, derailed by the mid-year Gen-Z protests, has been adjusted to make possible the Board meeting for the combined 7th and 8th Reviews scheduled for October 30. The adjustments, unfortunately, again raise profound […]
Daron Acemoglu, Simon Johnson, and James A. Robinson won the 2024 Nobel Prize in Economics for their research on how a country’s institutions significantly impact its long-term economic success.[1] Their work emphasizes that it’s not just about a nation’s resources or technological advancements but rather the “rules of the game” that truly matter. Countries with […]
The World Trade Report 2024 was launched at the start of the WTO Public Forum 2024 in Geneva titled “Trade and Inclusiveness: How to Make Trade Work for All”[1], and this blog will seek to highlight some of the most profound insights. The report delves into the crucial relationship between international trade and inclusive economic […]
The Price Control Act of 2011, with its imposition of price ceilings on essential goods, represents a significant intervention in the natural forces of supply and demand that govern a free market. The Act empowers the Minister to control the prices of essential goods, preventing them from becoming unaffordable. The Act outlines a specific mechanism […]
The earliest proposition of fiscal consolidation can be traced back to the Keynesian theory which argues that fiscal austerity measures reduce growth and increases unemployment through aggregate demand effects. According to this theory, government undertaking contractionary fiscal policies of either reducing government spending or increasing tax rates, will eventually suffer a reduction in aggregate demand […]