Price Controls on Essentials During the Pandemic
The phrase “time of crisis and shortage” is certainly applicable to the coronavirus pandemic; it refers to a period of difficulty where specific items cannot be obtained in sufficient amounts due to shortages in quantity supplied. This may encourage societal inequalities. For example, in order to prevent a future lack of essential goods, higher income earners are better placed to “hoard” such goods, as the … Continue reading Price Controls on Essentials During the Pandemic
News Briefing – 17/5/21
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. Business & Economics On Wednesday, the Office for National Statistics released figures for business investment for the first quarter of 2021. Total investment fell by … Continue reading News Briefing – 17/5/21
News Briefing – 10/5/21
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. Business & Economics In a virtual meeting last Tuesday, Boris Johnson and Narendra Modi (Prime Minister of India) agreed to a new “Enhanced Trade Partnership” between the two countries. The PM … Continue reading News Briefing – 10/5/21
Interstellar Economics
In 1978 Dr Paul Krugman wrote a paper entitled The Theory of Interstellar Trade, supposedly to cheer himself up. Yet despite the self-described “silly” nature of the work, it contained serious analysis, and since being written has inspired several more works on the economic implications of interstellar travel. The chief issue that economists have grappled with is that of time dilation. In short, Einstein’s theory … Continue reading Interstellar Economics
China’s Growth
Since 1979 China’s income per capita has increased by a factor of 37 from $272 to $10 099. This means that China has gone from a low-income country to a high-ranking middle-income country in 40 years, (a high-income country has a per capita income of $12 536 or more). In the first three decades of this huge growth, China grew at an average of 9-10% … Continue reading China’s Growth
The End of Tax-Free Shopping in the United Kingdom
This article explores the potential economic impact, particularly on the West End of London, of the recent decision by the Treasury to discontinue the VAT Retail Export Scheme for international visitors. Continue reading The End of Tax-Free Shopping in the United Kingdom
Central Bank Digital Currencies: catalyst for financial inclusion?
Evolution of Money Traditionally, money is a metal token or a slip of paper symbolising a value of credit based upon people’s trust in it. Its three primary functions (store of value, means of exchange, and unit of measurement) have been served by constantly evolving means for 3000 years. The latest in this evolution is the digital currency. Unlike any type of currency to precede … Continue reading Central Bank Digital Currencies: catalyst for financial inclusion?
News Briefing – 3/5/21
We’ve summarised the 15 key 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. Business & Economics Joe Biden unveiled his $1.8 trillion American Families Plan on Wednesday this week. The proposed spending increases and tax cuts focus … Continue reading News Briefing – 3/5/21
Chart of the Month – May 2021
This month’s Chart of the Month tracks the value of UK exports over time to both EU countries and non-EU countries. The most significant trend is that an increasing percentage of our exports are headed to markets other than the EU. Between 2010 and 2015, European demand for British exports remained low due to a slow recovery from the financial crisis and a weak euro … Continue reading Chart of the Month – May 2021
Assessing the Virtues of Negative Interest Rates
Early this year, the Bank of England (BoE) was reported to have instructed banks to prepare for negative interest rates within six months. The BoE purportedly did so as part of its plans for a monetary stimulus to resuscitate the UK economy ravaged by the Covid-19 pandemic. Economists have since been divided on whether driving the BoE’s base rate from the already ultra-low 0.1% to … Continue reading Assessing the Virtues of Negative Interest Rates
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