Category: Politics

Development, Economics, Long Read, Politics

The Taylor Rule

Monetary policy makers often face a trade-off between rules based and discretionary policy formulation. While discretionary policy formulation allows flexibility in responding to unexpected shocks, it can simultaneously create uncertainty and reduce credibility. On the other hand, a systematic, rules based approach anchors expectations regarding future monetary policy, helping to stabilize the economy over time. In 1993, the economist John B. Taylor proposed the Taylor … Continue reading The Taylor Rule

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Development, Economics, International, Politics

The IMF and World Bank in a Multipolar World

The IMF and World Bank in a Multipolar World A multipolar world economy is defined as a world order where major economic power does not lie in the hands of one single state but is instead divided between various centres of economic influence across the globe. Over the last few decades, global order and economic influence have shifted from a Western-centric polar model to a … Continue reading The IMF and World Bank in a Multipolar World

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Development, Economics, Europe, Politics

Capitalism and Social Welfare in Nordic Countries

As many advanced economies are struggling to balance changing demographic demand, inequality and free market capitalism, the Nordic countries – Denmark, Finland, Iceland, Norway and Sweden – are often held out as examples of successfully balancing capitalism and the social welfare needs of their societies. This is often attributed to “The Nordic Model” – a system which combines free market capitalism with strong social welfare, … Continue reading Capitalism and Social Welfare in Nordic Countries

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Economics, Politics

Taxing the Ultra Rich

We’ve all heard of taxing the ultra-rich as the key to solving fiscal deficits around the world. Whether it be Bill Gates claiming that he should pay “significantly higher” taxes, or Warren Buffet advising that the government should “get serious about shared sacrifice”, taxing the ultra-rich at significantly higher rates has been debated throughout the last decade. But is it really the panacea for deficits … Continue reading Taxing the Ultra Rich

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Americas, History, Latin America, Politics

Militias and the Brazilian Economy

Since the founding of Brazil and its secession from Portugal in 1822 and especially after establishement of the republic in 1889, various groups have operated paramilitary organisations in Rio De Janeiro, known today as militias. To some, these groups are vigilante heroes, ordinary men who choose to stand against the terror of Brazil’s drug gangs and provide the security that Rio’s municipal government fails to … Continue reading Militias and the Brazilian Economy

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Finance and Markets, Politics

Central Bank Independence

When the Bank of England was finally granted independence by the new Labour government in 1997, the Economist ran the headline, ‘Free at last’. This move belatedly joined a rapidly growing trend worldwide of governments granting central banks independence. By the end of the 20th century, central bank independence (CBI) had risen to around 80-90% (Chart 1), while the independence of these banks had also increased … Continue reading Central Bank Independence

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Americas, Economics, Politics, US

Trumponomics

Since Donald Trump’s return to the presidency in January 2025, “Trumponomics” has redefined U.S. economic policy through a lens of protectionism and economic nationalism. Central to this strategy are aggressive tariffs, including a universal 10% tariff on all imports, effective April 5, 2025, and targeted rates as high as 245% on Chinese goods. By May 2025, these measures have catalysed a seismic shift in global … Continue reading Trumponomics

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Development, Economics, Long Read, Politics, UK

JKP Entry: Can Austerity 2.0 Bring Back Growth?

Can Austerity 2.0 Bring Back Growth and Prosperity to the UK Economy? Introduction In October 2024, Chancellor Rachel Reeves announced a £40 billion tax increase, the largest since 1993, aiming to address the UK’s budget deficit and tackle the £22 billion ‘black hole’ from the Tories. Austerity refers to the policies aiming to reduce government deficits via spending cuts or tax hikes. Despite the Labour … Continue reading JKP Entry: Can Austerity 2.0 Bring Back Growth?

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Americas, International, Politics

Trump’s Tariffs: Short Term Protection or Long Term Economic Risk?

Note: This article was written in March/April 2025, when the initial set of tariffs had been proposed.   Trump’s Tariffs: Short-Term Protection or Long-Term Economic Risk?  Introduction  On November 5th, 2024, Donald Trump was re-elected as President of the United States, triggering wide-spread impacts for the global economy. Almost immediately, he resumed his previous trade war with China and launched new tariff-based confrontations on Canada and … Continue reading Trump’s Tariffs: Short Term Protection or Long Term Economic Risk?

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Americas, Development, Economics, Latin America, Politics

Cuba’s Currency Crisis

How a dual system distorted the economy  For decades, Cuban people lived with two different currencies in their pockets: the CUP (Cuban National Peso) and the CUC (Convertible Peso). However, it was not always this way. Following the collapse of the Soviet Union, the CUC was introduced in order to stabilise the economy—but at what cost? Whilst the implementation of the CUC helped stabilise the … Continue reading Cuba’s Currency Crisis

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