Is maintaining the economy a fair trade for lives?
As COVID-19 continues to spread, governments face a critical decision: whether to prioritise the economy or the lives of the people. In attempting to address this question, four frameworks are essential: the utilitarian, scarcity-based, duty-based and Rawlsian approach. The principle that, as Thomas Jefferson puts it, “the care of human life and happiness is the first and only object of good government” will be adopted … Continue reading Is maintaining the economy a fair trade for lives?
Financial responses to Covid-19 and the 2008 financial crisis
Millions unemployed. The world in shock. Governments panicking. Both the financial crisis and the coronavirus pandemic left the globe reeling. Yet governments responded with their own bailout packages, their own furlough schemes and their own targeted welfare programs. It’s quite interesting how differently the public has reacted to these plans and in turn, how effective they were to actually solve both the short and long-term … Continue reading Financial responses to Covid-19 and the 2008 financial crisis
Unregulated and Unchallenged: Iceland’s Banking Saga
In the midst of a global public health emergency, Iceland has fared exceptionally well amongst Western nations, with only 1,804 reported cases and 10 deaths. Twelve years ago, however, the story was very different; Iceland was facing collapse as a result of a Wall Street contagion, another pandemic that would expose the fundamental weaknesses of deregulated financial systems. Within a week, the entire banking sector … Continue reading Unregulated and Unchallenged: Iceland’s Banking Saga
Land of the Rising Sun
Described as the Land of the Rising Sun, Japan has experienced unparalleled levels of economic growth and infrastructural development. Yet, one might be taken aback to discover the socioeconomic circumstances which have swept Japan away. Thence it is obligatory that one should understand how Japan could transgress its expectations if, at one point, superseding the United States to having fallen to a level of battling … Continue reading Land of the Rising Sun
The Future Made in China?
In the past forty years China has experienced extraordinary growth driven by an abundant supply of labour, exports and low wages. Will the authoritarian state will become the prevailing power in the years to come? I have decided to exclude issues caused by Covid-19 and instead focus on the underlying factors. Since China began to modernise its economy in 1978, it has experienced an average … Continue reading The Future Made in China?
Why Estonia might be the most well prepared country for the coronavirus
In 2018, Forbes named Estonia as one of the most technologically advanced countries in the world. Their e-government provides 99% of state services online. As Richard Davies says in his book Extreme Economies, “the only official things you cannot do online in Estonia are marry, divorce and buy a house.”1 Estonians vote online, see their GPs online and 95% of the population pays taxes online. … Continue reading Why Estonia might be the most well prepared country for the coronavirus
The Impact of Globalisation on Pandemics
Today it takes only 40 hours to circumnavigate the world by plane, 40 days by boat and 346 days by foot. This is an era of unparalleled human movement and interaction. People, products and capital travel the world with unprecedented quantity and speed, as do countless disease-causing microorganisms. However, this connectivity paradoxically can help to prevent and control the severity and emergence of such diseases. … Continue reading The Impact of Globalisation on Pandemics
3D-printed Food
On the 1st April 2016, the Guardian newspaper published an April Fool’s article describing the Foodini – “the first 3D-food printer to print all types of real, fresh, nutritious foods”. Many people smirked actually tempted to buy. But it wasn’t a joke. 3D food printing is no sci-fi experiment or Wallace & Gromit invention. Today 3D food printers actually exist and are coming to your … Continue reading 3D-printed Food
Can Past Pandemics Predict the Future?
Ever since the dawn of mankind, pandemics have been a threat to our survival. From the Justinian Plague to the Polio epidemic, one only has to look back through history to see examples of devastating diseases ravaging populations. Now, in the 21st century we face another pandemic: Covid-19 has killed thousands and disrupted the lives of billions more, and there is extreme uncertainty about the … Continue reading Can Past Pandemics Predict the Future?
Lessons from the crash and today’s trends in Western monetary policy
The coronavirus pandemic, and the ensuing economic crisis, has provoked unprecedented responses from policy makers, no more so than from central banks. The Federal Reserve’s major actions include purchasing up to $750 billion of investment-grade corporate debt and lowering its discount window rate to 1.5% – lower than it ever was in the GFC. This makes the Fed’s additional pledge to buy $700 billion in … Continue reading Lessons from the crash and today’s trends in Western monetary policy
