On the 8th of January 1982, the telecommunications company AT&T was finally mandated to split into 7 independent companies. At that time, it was the only provider of telephone service throughout almost all of the United States. Moreover, most telephone equipment was provided by Western Electric, its subsidiary, which resulted in a vertical integration system, where a company owns its supply chain. Unsurprisingly, the United … Continue reading Monopolies
Tencent is not only the world’s largest game company; it also controls large shares of important markets in China such as music, social media, and films. Since April 2021, Tencent’s stock has seen a slow downward trend, falling from its highest closing price of HKD 757.00 on 14/2/2021 to HKD 266.40 as of 9/30/2022. This has been driven by anti-monopoly laws recently published by China, … Continue reading Tencent: The King of Video Games
Blood diamonds have in total caused 3 million deaths. The average blood diamond worker receives 5p per day. Statistics such as these, highlight the true socio-economic problems such as inequality and poverty that blood diamonds cause. Blood diamonds became a big issue in the 1990’s, when civil wars broke out all over Central and Western Africa, encouraging some of the governments and rebels within these … Continue reading Blood Diamonds: The Brutality behind the Bling
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
“An economic recovery, like a rising tide, will lift all boats. For many, maybe even most, it will lift by painful inches. Some boats, however, may be lifted faster and higher.” So spoke President Ronald Reagan during his 1982 State of the Union address. He promised growth for all, stimulated by tax cuts for the top earning bracket, allowing for money to “trickle” down socio-economic levels … Continue reading Trickle Down Economics
In recent times, Artificial Intelligence has become more prominent in our everyday lives. With the emergence of AI chatbots such as ChatGPT, which are able to answer questions and assist with tasks such as writing essays, our everyday lives have become much easier and more efficient. While AI has the potential to bring about numerous positive changes in society, it can also bring about risks … Continue reading The Impact of AI in Our Society
Often hailed as the most influential economist ever, Keynes regularly imparted wisdom that shook the foundations of modern economics. His off-hand remarks are now cemented in history, and he is frequently quoted by modern economists and journalists. One of the issues he was very passionate about was the necessity of free trade amongst countries, even going as far as calling protectionism (the opposite of free … Continue reading Trade Wars: Explained
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
This Chart of the Month revisits the EU Emissions Trading Scheme (ETS). An explanation as to how it works can be found in the July 2021 Chart. In that article, we asked whether the EU ETS could hold its value, and whether the increase in costs of pollution would prove too great a burden for firms and the poorest households. Now, we can try to answer … Continue reading Chart of the Month – May 2023
Hong Kong is a politically conflicted city and country on the South China Sea, described as employing a ‘one country, two systems’ state. It is an ex colony of Britain that is in a transition stage between British rule and Chinese ownership. In 1997 it was agreed that Hong Kong would be handed over to China as an SAR, ‘Special Administrative Region.’ However it still … Continue reading Hong Kong and SDUs
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