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
Over the past 10 years the way we listen to music has been revolutionised by streaming services. Platforms such as Apple Music, Deezer and Soundcloud provide a platform to access almost any song instantly, and a way for artists to distribute their creations without having to press CDs or vinyl. The “headline act” of these is undisputedly the Swedish giant Spotify, which drowns out the … Continue reading Spotify: A Blessing Or A Curse For The Music Industry?
The question of automation replacing jobs has been especially debated in recent times. This was initially because of COVID-19, which substantially increased investment into developing new technology due to skyrocketing demand for digital goods. Then, with the breakthroughs in artificial intelligence (AI) research, such as the invention of ChatGPT, the public has begun to worry about higher skilled jobs being at risk too. This essay … Continue reading The World should be More Careful with Automation…
In the early days of automation, machines ruthlessly decimated workers’ place in the commercial order, and it did create jobs – with a twist. Many of those who were displaced were either too geographically immobile (they could not physically access these opportunities), or more commonly, too occupationally immobile (they did not have the necessary skills). Fortunately, increased dynamism in the workforce has dismantled these impediments, refashioning robotisation … Continue reading Why the Doomsayers are Wrong about Robots
Gerard B Lyons is a Business Researcher at the Centre for Policy Studies, the UK’s most influential centre-right think tank, which produces reports and advises the Government on a host of domestic policy areas – ranging from taxation and economic growth to welfare policy and the green agenda. He covers financial regulation, tax and innovation policy. Coming from a financial communications background in the City of London … Continue reading Interview with Gerard Lyons: the future of semiconductors
In 1983, Mohammed Yunus founded the Grameen Bank. His idea was simple: the bank would grant tiny loans, often no more than $100, to women in rural Bangladesh who had no access to credit. In the following decades, repayment rates for some schemes were as high as 98%, and Yunus attracted major funds from backers such as the Ford Foundation. In 2020, more than $50 billion of credit was being given to the poor – this time, by giant global banks, … Continue reading Microfinance: What went wrong?
The summer and winter Olympic Games are undeniably two of the world’s most prestigious sporting events, and hosting either of these mammoth occasions is generally seen as a privilege and an economic opportunity for the host city. However, taking a deeper look into the potentially crippling economic costs combined with the minimal benefit for cities hosting the games reveals massive issues that leave future hosting … Continue reading The Struggle of Hosting the Olympics
