What Effect will LLMs and Generative AI have on entrepreneurship?

Over the past few years, Large Language Models (LLMs) and other generative AI technology have become increasingly prevalent in business and enterprise. A LLM is a form of of artificial intelligence that uses deep learning algorithms to process, understand and generate natural language. They make up a part of generative AI, which refers to AI capable of generating content such as text, images, and other … Continue reading What Effect will LLMs and Generative AI have on entrepreneurship?

Lucas PinsentNovember 2, 2023Leave a comment

Economics, UK

Reviewing the Minimum Wage with Scepticism

The first national minimum wage was implemented in New Zealand in 1894. It was intended to protect the rights of workers and give them fair pay for the work that they do. This move has since been followed by a majority of countries around the world however, there are certain notable exceptions. These include Norway, Finland, Iceland, and Italy. In these countries, minimum wages are, more often than not, set de facto by individual industries. Put … Continue reading Reviewing the Minimum Wage with Scepticism

EtonomicsOctober 5, 2023Leave a comment

Development, International, Middle East and Africa

Beyond the Barrel: Economic Evolution in a Post-Oil World

Oil, often referred to as ‘black gold’, has historically had a profound impact on the global economy. Its original use in ancient civilisation was for medicine and lighting. However in the 19th century, it became the lifeblood of industrialisation, powering machinery, transportation and ultimately shaping geopolitics. Today, oil remains a critical driver of the global economy. As the world becomes more environmentally oriented (coupled with other … Continue reading Beyond the Barrel: Economic Evolution in a Post-Oil World

Shreyas VeturiOctober 5, 20231 Comment

Economics, Finance and Markets, International

What MMT Can Do For Us

Initially written in response to question: A government funds its own expenditure by taxing its population. Suppose, instead, it relied solely on money newly created by the central bank? What would be the advantages and/or disadvantages? The notion that governments rely on the tax revenues derived from individuals and businesses and thus cannot simply “print more money” to solve any issues they might face … Continue reading What MMT Can Do For Us

Nathan Osafo OmaneOctober 5, 2023Leave a comment

Economics

The economics of gender equality

What is the issue? Despite substantial progress in several aspects of gender equality over the past decade, including reductions in the workforce participation rate gap, the gender pay gap and unemployment rates in OECD countries, problems persist in developed and developing countries alike. These challenges have been amplified by the COVID-19 pandemic and a subsequent increase in unpaid labour – PwC’s Women in Work Index … Continue reading The economics of gender equality

Hari NairOctober 5, 2023Leave a comment

Behavioural, Economics, International

Has Economics Run Out Of New Big Ideas?

Economics is often criticised for being a reactionary science that predicts nothing and only explains its mistakes (Rodrik, 2015). It is rarely credited with discoveries that help society; and in a random survey, most participants did not trust economists (Economics Network, 2017). Instead, economists are criticised for their resistance to change and for limiting the exploration of real-world practical policy solutions. Moreover, it is true … Continue reading Has Economics Run Out Of New Big Ideas?

Zihan TianSeptember 14, 2023Leave a comment

Economics, International, Long Read, Politics

Anarcho-Capitalism: Utopia or Pipe Dream?

In the modern world, we take it for granted that the government should play an essential role in economic and social affairs. The idea that society could ever function smoothly without the apparatus of the state seems preposterous. Indeed, there is good reason to believe this, as mainstream economists today would identify three broad areas of responsibility that the state holds in managing the economy. … Continue reading Anarcho-Capitalism: Utopia or Pipe Dream?

Edgar BrownSeptember 14, 2023September 14, 2023Leave a comment

Environment, UK

The Energy Question

The ongoing Energy Crisis has created unprecedented political, economic, and social distress in the UK. Some potential solutions exist to address the immediate issue of significant energy price rises. However, I believe that we must equally focus on implementing effective longer-term solutions to reduce the risk of a future, even more disruptive, energy crises. To do this, the UK needs to shift to a more … Continue reading The Energy Question

williammurraybruceSeptember 14, 2023September 14, 2023Leave a comment

Business and Technology, Chart of the Month, Environment, Politics

Chart of the Month – August 2023

August’s Chart of the Month shows the number of Santander cycles hired from 2015, when Santander began sponsoring the scheme in London, to 2023. It shows long term growth, culminating in 2022’s record-breaking year of 11,506,889 hires. However, more recently, usage has been low and recovery has been slow. The Santander Cycle hire scheme is owned by the Transport For London (TFL), a government body … Continue reading Chart of the Month – August 2023

Zihan TianAugust 1, 2023September 14, 2023Leave a comment

Asia, Chart of the Month, Finance and Markets

Chart of the Month – July 2023

July’s chart of the month shows how Japanese stocks have performed since COVID. In 2023 alone, the Nikkei 225 has grown by 30%, triple that of the S&P 500, and far exceeding the growth of most European indexes. The Nikkei is now only 20% off its peak in 1990, growing 6% in June. Investors must ask: have Japanese stocks at last recovered from a 30-year … Continue reading Chart of the Month – July 2023

thomasbpotterJuly 7, 2023August 1, 2023Leave a comment