Category: Economics

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Economics

What are the implications of becoming a cashless society?

In a world where virtual transactions are becoming increasingly commonplace, there is ever increasing speculation that we are becoming a cashless society. The term cashless society has come to refer to an economy in which physical money is no longer used for transactions; instead, all payments and financial dealings are conducted electronically through, for example, bank cards and online accounts. Many economies across the world … Continue reading What are the implications of becoming a cashless society?

Unknown's avatarRameen Power1 Comment
Economics, International

Does Government Spending Benefit the Economy?

‘Spend as much as you can’, urged the IMF at the start of 2021 in order to accelerate the global economy’s revival. Others argue that the economy should be left to its own devices – government intervention only creates havoc. Governments spend in a plethora of ways, but we must examine the effects of government spending, originally intended to directly benefit the economy. On the … Continue reading Does Government Spending Benefit the Economy?

Unknown's avatarPeter PanLeave a comment
Behavioural, International

Dan Ariely – Modern Behavioural Economics

Behavioural economics has taken the world by storm, aided by catchy and digestible books and superstar researchers. One of the most prominent contemporary figures in the field is Daniel Ariely, the current James B. Duke Professor of psychology and behavioural economics at Duke University. He has authored multiple best-selling books on his research, most famously his ‘irrational trilogy’ of Predictably Irrational, The Upside of Irrationality, and The Honest … Continue reading Dan Ariely – Modern Behavioural Economics

Unknown's avatarJohn Chang1 Comment
Business and Technology, Chart of the Month, UK

Chart of the Month – September 2021

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

Unknown's avatarChenyang LiLeave a comment
Chart of the Month

Chart of the Month – August 2021

August’s Chart of the Month shows the proportion of English students in state-funded and independent schools who achieved A*-As, from 2014 to 2021. It highlights the pandemic’s impacts on education in the UK. In March 2020, the government cancelled public exams. Students instead received a centre assessed grade, based on what they most likely would have achieved. Grade inflation would be mitigated by statistical methodologies … Continue reading Chart of the Month – August 2021

Unknown's avatarChenyang LiLeave a comment
Development, Keynes Society Reports, Politics

Sir Tim Besley: “State Capacity and Economic Development”

The Keynes Society was delighted to virtually host Professor Sir Timothy Besley, a world-renowned economist in the field of development economics and development policy foundations. Professor Sir Besley is a professor of development economics at the London School of Economics and a fellow of All Souls College Oxford, having served on the Monetary Policy Committee of the Bank of England and as President of the … Continue reading Sir Tim Besley: “State Capacity and Economic Development”

Unknown's avatarChenyang LiLeave a comment
Chart of the Month

Chart of the Month – July 2021

This Chart of the Month shows the price of the EU Emissions Trading Scheme (ETS). The EU ETS aims to reduce net greenhouse gas emissions within the EU. It is a market-based intervention. Greenhouse gases have made catastrophic weather events much more likely. This summer, we saw devastating floods across Europe, which killed over 300 people. In the US, wildfires torched almost 1.4 million hectares … Continue reading Chart of the Month – July 2021

Unknown's avatarChenyang LiLeave a comment
Chart of the Month

Chart of the Month – June 2021

June’s Chart of the Month shows the daily value of takeaway sales in the USA over the last five years. The onset of COVID-19 last year cleared the chatter of diners from restaurants, replacing them instead with the frenetic hum of mopeds delivering meals. Sales of takeaway meals have ballooned, up 120% since the start of last year and – despite the gradual reopening –  … Continue reading Chart of the Month – June 2021

Unknown's avatarTristan HandLeave a comment
Behavioural, Finance and Markets, International

Forever blowing bubbles

Be fearful when others are greedy and greedy when others are fearful. – Warren Buffett Buffett uses this mantra every day, along with his two other ground rules for running his investment firm Berkshire Hathaway: So why does the 90-year-old legendary investor hold these core mantras? One possible answer can be found by considering the history of investment bubbles. One of the first recognised “bubbles” … Continue reading Forever blowing bubbles

Unknown's avatarOllie Weldon2 Comments