In a decimalised economy like the UK, one pence coins are often regarded as useless, and rarely spent on goods. Instead, they are given as change for products. In the 1950s, these pennies were important on a daily basis, providing the means for transactions such as buying milk and eggs, which roughly cost 3p and 8p respectively. This utility has been lost today due to … Continue reading The future of the Penny
South Korea’s economy has a highly developed mixed economy. By nominal GDP, the country has the 4th largest economy in Asia and the 10th largest globally. However, there is something special about the South Korean economy that distinguishes it from others: it is dominated by chaebols. Understanding these chaebols is a necessity for anyone who aims to understand South Korean capitalism and society. The word … Continue reading Chaebols of South Korea
Weed? Pot? Ganja? These are familiar terms for some people, but less well known is the fact that marijuana sales account for more than $120 billion each year in tax revenue and create 1.6 million new jobs in the US alone. The legalisation of cannabis would see it officially become America’s largest cash crop and many people seem to be rooting for it, with only … Continue reading Marijuana: an economic high?
Colombians earn more from the drug trade than any other nationality in the western hemisphere. Since 2000, the United States has devoted part of its $11.6 billion in Colombian aid to eradication programs in an attempt to reduce the amount of processed cocaine reaching US shores. Despite this, cocaine has been getting cheaper in the United States, coca fields keep expanding, violence continues to worsen, … Continue reading Colombia’s Cocaine War: the industry that pays
The relationship between international free trade and employment has long been controversial. Some economists argue free trade affects efficiency but has no effect on total employment in the medium and long term, whilst others argue that there are increased job opportunities due to a rise in exports. There are several reasons why a country would want to participate in foreign trade. Most obviously, one may … Continue reading Does Free Trade Cause Unemployment?
We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week. UK Business & Economics The government has admitted that the £150 council tax rebate, announced in February, may not arrive for some households until late … Continue reading News Briefing – 30/05/22
We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week. UK Business & Economics Despite the rising cost of living hitting UK households nation-wide, retail sales jumped 1.4% in April with the sales of tobacco … Continue reading News Briefing – 23/05/22
We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week. UK Business & Economics NHS prescription charges will be frozen at £9.35. Normally, single prescription prices rise in line with inflation. However, following an announcement … Continue reading News Briefing – 16/05/22
We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week. UK Business & Economics The Bank of England has increased the bank rate from 0.75% to 1%; the highest level seen in 13 years. This … Continue reading News Briefing – 09/05/22
“The poor are punished.” This was a statement used to depict the ghastly effects that Hurricane Dorian had on the small outlying islands of Abaco in The Bahamas in September 2019. Inhabitants of a local shanty town ‘The Mudd’ described the scene as if a bomb had been detonated, with cars overturned and homes laying dispiritingly in rubble. What used to be a town full … Continue reading Inequality in the Bahamas
