The Transition away from fossil fuels is one of the key economic driving forces of this decade. A key way for countries to wean themselves off hydrocarbons is through the replacement of internal combustion engines with electric battery powered engines. Electric Vehicles (including plug in hybrids) have seen a surge in production over the last few years. China is at the forefront of this global … Continue reading The Rise in China’s EV Production
The anticipated robotaxi platform from Tesla represents far more than an advancement in autonomous vehicle technology—it stands as a direct competitive threat to established rideshare leaders Uber and Lyft. Through its advancing Full Self-Driving (FSD) capabilities, which Tesla claims will soon reach widespread implementation, the company continues its mission to transform transportation through automation. The emergence of fully autonomous services poses sweeping implications for traditional … Continue reading Robocab Revolution
It is certainly true that UK productivity has hardly grown in the years since the Financial Crisis. It is also the case that the UK has performed worse than other developed economies. However, the reason for this relative under-performance does not lie with “total factor productivity” (the portion of outputs not explained by the amount of inputs used in production). In considering what strategies are … Continue reading UK Productivity – JKP 2024
In times of economic uncertainty, why do wages and prices often remain ‘rigid,’ even as demand drastically falls or spikes? This phenomenon, known as ‘stickiness,’ is a central concept in Keynesian economics. The father of this section of economics, John Maynard Keynes, argued that without government intervention, mainly fiscal or monetary policies, the rigidity of prices can ’trap’ economies in high unemployment and slow growth … Continue reading Sticky Wages and Prices
Throughout American history, trade policy in the United States has oscillated between periods of protectionism and free trade. Protectionism is a form of economic policy that involves reducing international trade through the imposition of tariffs and other barriers to imported goods in order to support domestic production. Tariffs, the most widely known form of such a policy, are taxes on imported goods that a government … Continue reading The Revival of US Protectionism
The world of fine art presents a curious economic paradox: pieces that might seem to hold little intrinsic value often fetch astronomical sums, confounding the traditional relationship between cost and value. This disparity reflects the influence of social and cultural forces that determine the price of art in ways that deviate from standard economic principles. This article will investigate the factors that affect the art … Continue reading The Pricing of Fine Art
It is no secret that the U.K. economy is not in a great state: A recession (three consecutive quarters of economic contraction) was declared after the last fiscal quarter of 2023, following a decade of borderline economic stagnation, and with annual GDP growth (a measure of all the goods, and services produced) no greater than the two per cent pre-COVID[1] rate. The picture painted by the … Continue reading UK Productivity – JKP 2024
UK Economics On 12 November the Office for National Statistics announced that the UK unemployment rate rose to 4.3% in the three months to September, up from 4% last quarter. Uncertainty surrounding the recent budget, particularly the increase to employer national insurance, has been blamed by some for this rise in unemployment. Figures released on 15 November also suggest that the UK economy grew by … Continue reading News Briefing – 18/11/2024
UK Economics On 30 October Chancellor Rachel Reeves delivered Labour’s much anticipated budget to the House of Commons, which included £40bn in tax rises. An increase in employer national insurance from 13.8% to 15% on salaries above £9,100 made up the brunt of this increase, raising an additional £25bn per year. Other measures included increasing capital gains tax, with the lower rate rising from 10 … Continue reading News Briefing – 11/11/2024
UK Economics On 10 October the UK government published a set of proposals to reform employment law, as part of its manifesto commitment to deliver a new workers’ bill of rights. The 28 policies include day one employment rights, abolishing fire and rehire and updating trade union legislation. On 11 October the Office for National Statistics announced that the UK economy grew by 0.2% in … Continue reading News Briefing – 14/10/2024
