To burn or not to burn? Fuelling the future
The European Union has set the target for the energy consumption of all it’s member states to be 20% renewable by 2020. While currently Brexit is being negotiated, in 2015, the UK was given its own special target of 15% because of it’s its “low starting point”. The UK Great Britain has consistently lagged behind its European counterparts, ranking 24th out of 28 neighbouring states … Continue reading To burn or not to burn? Fuelling the future
Theresa May’s problematic pledge to cap energy prices
The case for a cap on energy prices has arisen after the ‘big six’ energy companies raised prices by up to 15% earlier this year, even alongside low and falling wholesale prices. Although these have been justified by the energy companies as the result of being forced into generating renewable energy, it has not been perceived in that light by the general public, making the pledge … Continue reading Theresa May’s problematic pledge to cap energy prices
What is Rationality in Economics?
Rationality in economics is described to be a decision-making process of an economic agent that seeks to maximise utility. To best understand the notion of rationality in economics, it is best to compare it to rationality in a more psychological sense: the quality of being able to think sensibly or logically. This comparison highlights that rationality in economics is more concerned with the outcome of … Continue reading What is Rationality in Economics?
The US v. North Korea: The role of game theory
Tension between the United States and North Korea has reached a stage where missile strikes have become an alarming possibility. If tensions escalate further to a state where military action looks almost certain, game theory could offer us insight into finding the best strategy to tackle the problem. Firstly though, what does Kim Jong Un hope to achieve by possessing a nuclear arsenal? It is … Continue reading The US v. North Korea: The role of game theory
Electronic Arts: An example in business model innovation
Entertainment software firms are changing business models to send profits into game-changing territory Continue reading Electronic Arts: An example in business model innovation
“What Money Can’t Buy” by Michael J. Sandel
Sandel makes it very clear in his book, What Money Can’t Buy, that he is a philosopher. You might expect Sandel, as the book is a meticulous analysis of the free market – an entirely economic concept – and its effects on society, to at least explore economic thought and reasoning, but he is scornful of it; he likes to distance himself from it throughout. … Continue reading “What Money Can’t Buy” by Michael J. Sandel
The Euro: A failed project?
The Euro was created at midnight on 1st January 1999 when members of the Eurozone fixed their currencies against each other, but it did not become a legal tender until 1st January 2002. The creation of the Euro was seen to be a step towards the political and social unification of Europe through economic means: the means being an optimal currency area (OCA) – a theory … Continue reading The Euro: A failed project?
“The Entrepreneurial State” by Mariana Mazzucato
Marina Mazzucato’s The Entrepreneurial State aims to dispel the harmful myth that innovation is solely the result of entrepreneurial minds working in laissez-faire environments with backing from dynamic venture capitalists, and that the state is a lumbering impediment to revolutionary research and development. Mazzucato contends that this view, put forward by the USA and others, is far from the truth, and using an armoury of … Continue reading “The Entrepreneurial State” by Mariana Mazzucato
Credit card debt is the next big threat to the US economy
In June, US credit card debt reached record levels. The $1.02 trillion in outstanding credit card loans passed the pre-crisis peak set in 2008. Although the US economy is seen to be strengthening in most sectors, some see this as a genuine threat to the stability of the economy, and one which, if realised, would have a disastrous effect on everyone involved. Excessive credit card … Continue reading Credit card debt is the next big threat to the US economy
The Eurozone’s struggle and strife is not over
The Eurozone storms ahead. Still, deep-seated structural flaws prevail Continue reading The Eurozone’s struggle and strife is not over
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