Where Does Growth Come From? Romer, R&D, and the Limits of Ideas
Economic growth has been a key area of study for Economists. Various models and theories have been developed to explain how and why economies flourish; notably, Adam Smith’s idea that growth arises from the division of labour. By simplifying multistage tasks into smaller, simple components, one can accomplish it quickly. Workers may also find faster or more efficient ways to complete their tasks, increase productivity, … Continue reading Where Does Growth Come From? Romer, R&D, and the Limits of Ideas
The US healthcare system: Why is it so flawed?
Whether you live in America or not, you have likely heard of the astronomical fees that the US healthcare system currently charges its users. In fact, the issue has gotten to a point where 23% of individuals who have required immediate healthcare refuse to call emergency services to avoid being charged for the $3500 it would cost to call advanced care without insurance. What has … Continue reading The US healthcare system: Why is it so flawed?
Universal Basic Income: a dream or realist solution?
What is Universal Basic Income? Universal Basic Income (UBI) is a form of economic policy where each citizen or resident of a state receives a regular, unconditional amount of money in order to cover basic living expenses. While this idea may initially bear some resemblance to welfare benefit systems present in many modern day developed economies, the key difference to note is that, in theory, … Continue reading Universal Basic Income: a dream or realist solution?
The Economics of Startups: Why so many fail despite massive investment
Introduction: Startups are a key part of the global economy. They capture imagination, innovation, and talent, as well as collecting vast amounts of capital from investors. However, most startups fail and don’t survive long enough to deliver lasting returns. In 2024 alone, $314 billion was invested globally into startups (according to data from Crunchbase), with over 50% of this activity coming from the United … Continue reading The Economics of Startups: Why so many fail despite massive investment
The Football Transfer Market as a Case Study in Market Inefficiency
Introduction: The global football transfer market is one of the most well-known and dynamic marketplaces in the world. However, it is also one of the most inefficient. In 2023, Fifa reported that global transfer spending reached a staggering $9.63 billion, with English clubs alone responsible for nearly half of that total. In terms of economic-based theory, players should be allocated to the clubs that value … Continue reading The Football Transfer Market as a Case Study in Market Inefficiency
The Malthusian Model
Introduction The Malthusian Model was proposed by Thomas Malthus in 1798 in his book ‘An essay onthe Principle of Population’, with the goal of showing the dangers of excessive populationgrowth in a pre-industrial world, where the majority of economic activity was produced bythe agricultural sector. While this model may have been relevant in pre-industrial England,due to the huge technological development which has occurred in the … Continue reading The Malthusian Model
The Business of War: Inside the Military-Industry Complex
The concept of a Military-Industrial Complex (MIC) refers to the relationship between a country’s government, military, and defence industry, where political and economic interests become intertwined. The idea of a MIC arose in President Eisenhower’s Farewell Address in 1961, where he warned of its potential influence on national policy and democracy. “In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought … Continue reading The Business of War: Inside the Military-Industry Complex
Pandemic Inequality in the UK
The crisis that was Covid-19 proved to be far more than just a global health crisis, the world witnessed unprecedented social and economic change. Governments imposed lockdowns and closed borders to control the virus; people were forced into social distancing and self-testing, and humanity’s primitive instincts took over as people panic-bought mass amounts of toilet roll and face masks. Covid-19 provided everyone with a shared … Continue reading Pandemic Inequality in the UK
The economics of influencer boxing
When you think of boxing today, the focus is not necessarily on the best in the world, but on those with the greatest number of followers. The difference is clear: Logan Paul vs. KSI 2 on November 9, 2019, sold 2 million pay-per-views. On the other hand, Oleksandr Usyk vs. Tyson Fury 1 (which was for the WBA, WBO, WBC, and IBF world titles) sold … Continue reading The economics of influencer boxing
Havaianas: A Symbol of Brazilian National Identity
Havaianas is a Brazilian flip-flop brand, owned by Alpargatas S.A. – a Brazilian textiles manufacturer. As most people will know, Havaianas manufacture the world’s most popular rubber soled sandal, which has been worn from sandy beaches to fashion show runways. What is particularly fascinating about Havaianas is the extent to which it embodies Brazilian national identity and a more carefree way of life that is … Continue reading Havaianas: A Symbol of Brazilian National Identity
