This month’s Chart of the Month shows the real (inflation-adjusted) monthly value of UK fish and shellfish exports, bound for EU destinations. It reflects the short-term and potential long-term impacts of Brexit on UK businesses. Over the last twenty years, fish exports to the EU have remained relatively stable. The spike in August 2003 is unexplained, although it may have been caused by an unexpected … Continue reading Chart of the Month – September 2021
The markets for cryptocurrencies are some of the most volatile and rapid growing markets in the world today. Bitcoin, the world’s best-known cryptocurrency has experienced peaks and troughs rarely seen before in economic history. Founded in August 2008 as a website, it was initially a place where people could trade digital tokens. Since then, the market for cryptocurrencies has grown exponentially, and now includes an … Continue reading NFTs: Art of the future?
This article explores the potential economic impact, particularly on the West End of London, of the recent decision by the Treasury to discontinue the VAT Retail Export Scheme for international visitors. Continue reading The End of Tax-Free Shopping in the United Kingdom
Evolution of Money Traditionally, money is a metal token or a slip of paper symbolising a value of credit based upon people’s trust in it. Its three primary functions (store of value, means of exchange, and unit of measurement) have been served by constantly evolving means for 3000 years. The latest in this evolution is the digital currency. Unlike any type of currency to precede … Continue reading Central Bank Digital Currencies: catalyst for financial inclusion?
Although Britain had defeated the Axis Powers in the Second World War, the country was falling from its status as the world’s sole economic heavyweight. 1945 was the second consecutive year that GDP per capita had fallen. Influenced by economists like William Beveridge and John Maynard Keynes, British economic policy operated under the guidance of the “Post-War Consensus”. From the end of the Second World … Continue reading The Effects of Nationalisation on the British Coal Industry
On the 18th of November 2020, Boris Johnson announced his Ten Point Plan to drive the UK’s ‘green industrial revolution’, an ambitious plan with reforms in many high-carbon industries such as electricity and transportation. With the predictions that unemployment could reach 2.6 million by mid-2021 along with the fears of a double-dip recession, we may ask whether such costly reforms are currently appropriate, given the … Continue reading The Future of the UK’s Sustainable Automotive Industry: Can it save us from a double-dip recession?
The world of technology and science is mutable and ever-changing. Therefore, businesses and the structure of society adapt to these developments in order to maximise profits: they are closely interconnected. The future of the internet is the Internet of Things (IoT), which is defined as “the interconnection via the internet of computing devices embedded in everyday objects, enabling them to send and receive data.” For … Continue reading Can Blockchain Technology and Cryptocurrencies save the Internet of Things?
Bitcoin, the world’s largest cryptocurrency, has caught the world’s attention (again). Infamous for its volatility, it has faced scepticism from institutions and finance leaders. However, during the last year alone, Bitcoin has jumped from lows of $4000 to highs of almost $42000. What explains the eye-catching increases? Bitcoin was created in 2009 by the pseudonymous Satoshi Nakamoto at a time when the world was experiencing … Continue reading What is Behind Bitcoin’s Recent Rally?
As of 2016, the global economic benefits of genetically modified crops surpassed $150 billion. Considering the first engineered crop was developed by Calgene in 1994, this progress is simply incredible. Although having caused quite a stir when first released publicly, the farmers, and even consumers, have grown fond of these new innovations. It goes without saying that the latest scientific breakthroughs are rigorously tested, which … Continue reading The Rise of GM Crops
On the 1st April 2016, the Guardian newspaper published an April Fool’s article describing the Foodini – “the first 3D-food printer to print all types of real, fresh, nutritious foods”. Many people smirked actually tempted to buy. But it wasn’t a joke. 3D food printing is no sci-fi experiment or Wallace & Gromit invention. Today 3D food printers actually exist and are coming to your … Continue reading 3D-printed Food
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