For most of the last hundred years, globalisation felt inevitable — driven by technology that appeared to bring the world closer together. With the onset of the internet, supply chains became more complex and tightly interwoven, even between countries that wouldn’t traditionally see eye to eye, something that was seldom achieved by precursory trade systems. But lately, that momentum has started to shift. A growing … Continue reading Technological decoupling
Can Austerity 2.0 Bring Back Growth and Prosperity to the UK Economy? Introduction In October 2024, Chancellor Rachel Reeves announced a £40 billion tax increase, the largest since 1993, aiming to address the UK’s budget deficit and tackle the £22 billion ‘black hole’ from the Tories. Austerity refers to the policies aiming to reduce government deficits via spending cuts or tax hikes. Despite the Labour … Continue reading JKP Entry: Can Austerity 2.0 Bring Back Growth?
Germany has a unique constitution. It was born from the ashes of the Second World War and is one of the only countries legally limiting government borrowing as a percentage of its Gross Domestic Product (the value of all the goods and services produced in a country in a year). Governments around the world spend a considerable amount of money every year on everything from health services … Continue reading Lifting the German Debt Brake
When considering a country’s economy there are two types: emerging and developing. An emerging economy is characterised by transition in the economy of a nation from a pre-industrial, underdeveloped economic environment into an industrially competitive one which exhibits some, but not all, of the characteristics of a well-developed economy. The term ‘emerging market’ was first used by Antonie Van Agtmael of the International Finance corporation … Continue reading Emerging Markets: Is the Risk Worth the Reward?
How a dual system distorted the economy For decades, Cuban people lived with two different currencies in their pockets: the CUP (Cuban National Peso) and the CUC (Convertible Peso). However, it was not always this way. Following the collapse of the Soviet Union, the CUC was introduced in order to stabilise the economy—but at what cost? Whilst the implementation of the CUC helped stabilise the … Continue reading Cuba’s Currency Crisis
“Growth for the sake of growth is the ideology of the cancer cell” – Edward Abbey, The Second Rape of the West, 1975. In the above quote, Abbey refers to the shrinking wilderness of his beloved Arizona, industrialised by resource extraction and urban expansion. However, such a statement goes far beyond wilderness: when economic expansion is the common goal, it damages the very foundations that … Continue reading When Growth Fails
The Paradox of Progress – Why Technological Advances Aren’t Boosting Wages Introduction Technological advances have always been the main driver of economic growth and prosperity; major historical events such as the Industrial Revolution (1760-1830), and –more recently – the rise of the internet have brought around higher productivity, and with that, higher wages. However, although events past the 1980’s (such as the rise of artificial … Continue reading The Paradox of Progress
Mapping India’s Economy: Where It Is and Where It’s Going “India’s economy is likely to stand firm in an uncertain world”, according to Goldman Sachs. Recently, the nation’s economic climb has been amid the centre of global discussions. Their $3.7 trillion GDP has now surpassed the UK, ranking fifth largest in the world. The quote deduces that in a world of corrupt governments and economic … Continue reading Mapping India’s Economy
Higher education refers to learning at universities or similar institutions, typically leading to a degree. It has long been a key driver of economic growth, offering individuals higher wages and better job security due to their higher perceived worth. However, with tuition fees rising and student debt reaching record levels, concerns are growing about whether a degree is still worth the cost. In the United … Continue reading The Economics of Higher Education
Why is the NHS in crisis, and can it be saved? For 75 years, the NHS has been a shining light for free at the point of service to use, universal healthcare. But, now, the National Health Service – a treasure of the United Kingdom – is in crisis. Waiting lists are up, A&E times are up, and its budget is ballooning. This has not … Continue reading The NHS in Crisis
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