Category: Economics

Economics-driven content, perfect for students and teachers alike. Highly accessible and open to all.

Economics, Europe, UK

Britannia on the Brink: Is the UK Turning into Greece Lightning?

In the aftermath of the 2008 global financial crisis, Greece was faced with crippling debt. Resulting in the implementation of austerity measures (policies which reduce government spending and shrink the budget deficit), slumping GDP and overall political instability. Despite the UK being one of the largest economies in the world its national debt (£2,686 billion) has been ever rising, especially after the pandemic and specific … Continue reading Britannia on the Brink: Is the UK Turning into Greece Lightning?

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Economics, UK

UK Productivity

What strategies would be most effective for improving UK productivity?  Introduction Enhancing productivity, defined as the ratio of output to input volume [1], is critical to unlocking higher UK economic growth. Productivity improvements account for half of the differences in GDP per capita across countries (Chart 1). Growth in labour, capital, and Total Factor [2] productivity would translate into higher standards of living and prosperity growth. As Krugman … Continue reading UK Productivity

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Economics

The Secret to Australia’s Success

Among the economies of Southeast Asia, Australia stands out on its own. Viewed by many as the stronghold of the West in the East, its GDP per capita of $69,000 competes with the richest EU countries and even stands above the UK’s. Some attribute modern Australia’s success to its colonial origins or to its influx of skilled immigrants over the last hundred years. However, the … Continue reading The Secret to Australia’s Success

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Economics, Long Read, UK

Cracks in the Crown: The decline of the UK Economy 

During the 19th century, the UK stood as the preeminent global superpower. From the British Raj in India to the Dominion of Canada, its riches and power were unmatched. Since the height of the empire in 1922, when the UK governed 23% of the world population (458 million people with a domestic population of only 42 million) (Source: Statista), the UK has seen a gradual decline … Continue reading Cracks in the Crown: The decline of the UK Economy 

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Economics, International

Tax Evasion and its Motives

Taxation is the backbone of many countries, funding vital infrastructures such as national defense and social security. Yet, a surprising number of people resent the sums of money that are taken from their salary and resort to tax evasion (deliberately underreporting their earnings) through a variety of methods. An investigation from Bloomberg shows that the richest 1% of Americans, a country widely known for its economic and political … Continue reading Tax Evasion and its Motives

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Business and Technology, Economics

Benefits of R&D

Enhanced productivity arises from the efficient combination of inputs and is driven by new ideas, technological breakthroughs, and improved business models. This transformation fuels economic growth and elevates living standards and well-being. Research and Development helps to generate results in the advancements and improvements in technology, as well as deepening capital. How can Research and Development be used to drive economic growth? Research and Development … Continue reading Benefits of R&D

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Economics, International

The Impact of Indian Immigrants on Kenya’s Economy

On August 15, 1947, British colonial rule in India ended. The borders marked by Sir Cyril Radcliffe tore apart British India, displacing over 14 million citizens, hundreds of thousands of whom sought refuge in East Africa, especially Kenya. Kenya later gained independence from Britain in 1963, and since then its economy has seen periods of rapid growth, challenges, and recovery. But to what extent is … Continue reading The Impact of Indian Immigrants on Kenya’s Economy

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Economics, UK

Bond Market Turmoil: Behind the UK’s Latest Gilt Sell-Off

The UK bond market is hitting the decks. Rising yields on gilts (UK Government bonds) are resulting in surging borrowing costs for the government; these developments are generating concerns about the country’s fiscal stability and reducing investor confidence. With the pound weakening against the US dollar and questions mounting over fiscal policy, the impact of the bond sell-off has widespread impact both on UK finances … Continue reading Bond Market Turmoil: Behind the UK’s Latest Gilt Sell-Off

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Economics

Exploring Economic Systems

In todays increasingly globalised context, filled with a wide range of different cultures and ideas, it is important to classify and analyse the stratagems of the different economies. Broadly, economists classify these systems into three categories: market economies, command economies and mixed economies. Each system represents a unique approach to organising resources and addressing the needs of its population, reflecting the diversity of economic practices across … Continue reading Exploring Economic Systems

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Economics, UK

UK Productivity – JKP 2024

INTRODUCTION  Figure 1 – Graph showing how much less productive the UK is than other developed economies  The productivity problem in the UK is a pressing issue that has significant implications for economic growth, living standards, and global competitiveness. Productivity, defined as the measure of output per unit of input (typically labour or capital), is crucial for evaluating how efficiently an economy converts resources into … Continue reading UK Productivity – JKP 2024

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