Exploring Economic Systems
In todays increasingly globalised context, filled with a wide range of different cultures and ideas, it is important to classify and analyse the stratagems of the different economies. Broadly, economists classify these systems into three categories: market economies, command economies and mixed economies. Each system represents a unique approach to organising resources and addressing the needs of its population, reflecting the diversity of economic practices across … Continue reading Exploring Economic Systems
UK Productivity – JKP 2024
INTRODUCTION Figure 1 – Graph showing how much less productive the UK is than other developed economies The productivity problem in the UK is a pressing issue that has significant implications for economic growth, living standards, and global competitiveness. Productivity, defined as the measure of output per unit of input (typically labour or capital), is crucial for evaluating how efficiently an economy converts resources into … Continue reading UK Productivity – JKP 2024
G7: Going, Going, Gone?
The Group of 7 (G7), containing the countries of Italy, Canada, France, Germany, Japan, the United States, and the United Kingdom is a political and economic forum made up of some of the world’s most historically significant major economies. However, it is worth noting that the G7 excludes two of the world’s economic giants, China and India, which are both among the top five economies … Continue reading G7: Going, Going, Gone?
News Briefing – 13/01/2025
UK economics: On 11th of January, the pound slumped to its lowest level in a year, falling to $1.2207 against the dollar, after Government borrowing costs hit their highest level since 2008. The government has been warned that borrowing costs are set to exceed targets outlined in the October budget. If the OBR predicts in its upcoming March borrowing forecast that the Chancellor’s fiscal rules … Continue reading News Briefing – 13/01/2025
AI and The Future of Finance
The Beginning – Discovering a Foreign Field: Samik Chandarana, now Chief Data and Analytics Officer at JP Morgan, never planned to enter the world of finance. His journey in fact began far away from the trading floors of London, in the vibrant music scene at Manchester University. Deeply involved in the techno genre, by the late 1990s, Samik and his friends even released an album, Loop 82 – The New Style Swing, which can still be found on Spotify today. Although music was his … Continue reading AI and The Future of Finance
How Natural Disasters Can Disrupt Economies: Helene and Milton
Natural disasters bring about economic shocks that extend beyond immediate physical damage. Hurricanes Helene and Milton, which recently hit Florida, disrupted vital industries like energy and trade. These events have had ripple effects that impacted employment, consumer spending, and supply chains within the U.S. Given Florida’s significant economic role, these natural disasters reached beyond the national level, sending shockwaves through global financial markets. Insurance Market … Continue reading How Natural Disasters Can Disrupt Economies: Helene and Milton
Immigration in Ireland
Shelter and Society: Ireland’s response to the migrant surge Ireland’s immigration situation has significantly changed in the recent years, and the country is now confronting an increasingly urgent challenge: the nation’s housing, public services, and social cohesiveness are being seriously threatened by the sudden spike in migration, intensified by international crises like the war in Ukraine and the sudden increase in the number of refugees … Continue reading Immigration in Ireland
The Nutmeg Crisis
Very few incidents in the history of worldwide trade are so curious (and sadly more bizarre) as the 17th century Nutmeg Crisis. When spices have been more than culinary accents, nutmeg was among the most precious goods on the planet. Superstition, speculation and plain financial greed drove European powers to grab this tiny seed as the key to unprecedented wealth. In some way it did … Continue reading The Nutmeg Crisis
Disinflation and interest rates: Battling with the Zero Lower Bound
Introduction The “Lost Decades” of Japan has been cited by economists and policymakers as an allegory to warn against heedless reduction in interest rates in the face of a worsening economic climate. During this period of economic stagflation triggered by its 1990 stock market crash and thus suffering from immense debt, the country was in desperate need to recover the economy from rapid deflation. As … Continue reading Disinflation and interest rates: Battling with the Zero Lower Bound
News Briefing – 02/12/2024
UK Economics On 20 November the ONS announced that UK CPI inflation in the twelve months to October 2024 came in at 2.3%. This marks an increase from September where the rate stood at 1.7%. The ONS also announced that retail sales volumes fell by 0.7% in October, with fashion retailers particularly affected. This marks a reversal of fortunes for retailers, who had seen sales … Continue reading News Briefing – 02/12/2024
