Category: History

Asia, Development, History

From Emerging Giant to Economic Titan: India’s Journey to #5

In the final quarter of 2021, India overtook the UK and became one of the world’s top 5 largest economics (amongst powerhouses such as the US, China, Japan, and Germany). Now the country is projected to be the 3rd largest economy by 2027 ($5.4 trillion GDP by 2025) and has the largest population, overtaking China in April 2023. It is interesting to witness how a former … Continue reading From Emerging Giant to Economic Titan: India’s Journey to #5

Unknown's avatarShreyas Veturi1 Comment
Asia, Finance and Markets, History

The Asian Financial Crisis

The 1997 Asian financial crisis was one of the most devastating economic periods since records began, gripping Southeast Asia for most of the late 1990s.  Originating in Thailand in July 1997, this crisis rapidly spread to many other countries with a ripple effect, demonstrating the impact of financial contagion. Nicknamed the Tom Yam Kung crisis (a hot and sour shrimp soup which is seen as representative … Continue reading The Asian Financial Crisis

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Europe, History, International

Stresemann and the Dawes Plan

The years following the Great War saw Germany in economic and political which peaked by 1923. The country was plunged into a period of hyperinflation and high unemployment, while the government struggled to maintain order and stability. However, through the policies of Chancellor Gustav Stresemann, the economy was rejuvenated, bringing about the ‘Golden Age’ of prosperity in Germany. Stresemann’s most influential policy, the Dawes Plan, … Continue reading Stresemann and the Dawes Plan

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Development, History, Latin America

Venezuela: A Petrostate’s Fall from Grace and The Exodus of Its People

In 1976, Venezuela’s economy was booming amid an oil crisis, and Caracas (its capital) was one of only four destinations to which Concorde, the fastest and most expensive aircraft of its time, alighted. However, the Venezuela of 1976 is a world away from the Venezuela that is currently under the dictatorship of President Nicolas Maduro. In fact, from the 1950s to the early 1980s, Venezuela … Continue reading Venezuela: A Petrostate’s Fall from Grace and The Exodus of Its People

Unknown's avatarNico Sesson FarreLeave a comment
Finance and Markets, History, International

The Great Financial Crisis

Before COVID, the Great Financial Crisis (GFC) of 2008 was the most severe economic downturn since the Great Depression of the 1930s. Also known as the Global Financial Crisis, the GFC caused a nationwide recession, as well as causing global trade to decrease by 15% between 2008-2009. Nearly every country in the world was affected by the decline of economic growth, the loss of jobs, … Continue reading The Great Financial Crisis

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Development, History, Middle East and Africa, Politics

From Guns to Gold: The Wagner Group’s exploitation of Africa and Ukraine

PMC (“Private Military Company”) Wagner, more commonly known as The Wagner Group, is a paramilitary organisation based in Russia. Founded in 2014, Yevgeny Prigozhin a Russian oligarch and a close confidant of Russian president Vladimir Putin, took over the company shortly after its founding. The Wagner Group first came to prominence during the Donbas conflict in Ukraine from 2014 to 2015. The Wagner Group’s activities … Continue reading From Guns to Gold: The Wagner Group’s exploitation of Africa and Ukraine

Unknown's avatarNico Sesson Farre1 Comment
Terraced housing in the UK
History, UK

Thatcher and the Right to Buy

Between 1945 and 1979, reducing unemployment remained one of the most crucial macroeconomic objectives of 20th century British fiscal policy. Keynesian economic policy was particularly influential in the period with both Labour and Conservative governments choosing to increase government spending as a part of demand-side strategy, all in the name of battling unemployment, stimulating growth in the economy and nationalising the commanding heights of industries.  … Continue reading Thatcher and the Right to Buy

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History, International

The Roman Financial Crisis of AD 33

When considering Ancient Rome, we usually conjure up images like grandiose temples of white marble and soldiers with rectangular shields, but the Roman financial system was, like many other aspects of their society, ahead of its time in terms of complexity, ingenuity, and efficiency: so much so, in fact, that it resembled our modern financial system in many respects. Therefore, it should not be of … Continue reading The Roman Financial Crisis of AD 33

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History, International

How Ancient Rome Shows That Price Controls Don’t Work

UK inflation is running away, currently at 7% (CPI), the highest rate for 30 years. News reports are full of apocalyptic stories expecting the worst fall in living standards since records began in 1956. This is causing anxiety for all but the wealthiest. A recent poll by Opinium suggests 71% of voters would support price controls on essential goods, like food, clothing and transport. I … Continue reading How Ancient Rome Shows That Price Controls Don’t Work

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Economics, Europe, History, UK

The Galloway Hoard: Economics of the Early Middle Ages

The Galloway Hoard is more than just buried treasure. Discovered in 2014, this Viking-age deposit offers a glimpse of life during the Early Middle Ages, a century after the first Viking raids across Scotland. The collection contains more than 100 silver, gold, glass, rock crystal, stone, and earthen objects, most of which date to roughly 900AD. Our modern stereotype of the Viking age is framed … Continue reading The Galloway Hoard: Economics of the Early Middle Ages

Unknown's avatarChenyang LiLeave a comment