The likely implications of sanctions on Russia

On 24 February 2022, Russia invaded Ukraine in a significant escalation of the Russo-Ukrainian War (which began In 2014); in response, several countries imposed economic sanctions on Russia. The sanctions saw the various countries introduce an oil embargo, financial sanctions and a freeze of Russia’s currency reserves. The purpose of the sanctions was twofold: to put pressure on the war effort and Putin by undermining … Continue reading The likely implications of sanctions on Russia

EtonomicsMarch 6, 2023March 27, 2023Leave a comment

International

The Great Deficit Robbery 2.0

In July 2021, I wrote a piece titled “The Great Deficit Robbery”. It was an article cautioning against the new orthodoxy emerging among many mainstream economists and politicians suggesting that government spending had no limits, and that the once scary bogeyman of inflation was simply a relic of the past. I wrote that ‘if constant spending persists with no guardrails in sight, economic trouble may … Continue reading The Great Deficit Robbery 2.0

EtonomicsJanuary 15, 2023March 27, 2023Leave a comment

International

How FIFA currency incentivises increased consumer spending

FIFA, the football computer game from EA Sports, has proven the most durable source of ‘in-game’ spending by players of any computer game in history, with over $1bn spent in each of the past three years. The essay below discusses how the design of the game, and the currency system within it, encourage such purchases. To do this, I have first sought to describe the … Continue reading How FIFA currency incentivises increased consumer spending

EtonomicsSeptember 9, 2022March 27, 2023Leave a comment

International

Gentrification: the double-edged sword

Gentrification is often held as a sign of economic progress, improving living conditions, and a worthwhile use of public and private funds. As most world economies are now recovering steadfastly from the impact of COVID, projects from London to Seoul have promised to gentrify lower-income neighbourhoods, revitalizing previously derelict communities, increasing the tax base, and improving public safety. Yet, whilst gentrification is widely considered an … Continue reading Gentrification: the double-edged sword

Philip WeaverSeptember 9, 2022March 27, 2023Leave a comment

International

The IKEA Effect: When Creation Leads to Overvaluation

When instant cake mixes were introduced in the 1950’s as part of a broader trend to simplify the life of the American housewife, housewives were initially resistant: the simplicity of the mixes made women feel self-indulgent for using them, and as a result, women weren’t able to enjoy the feeling of accomplishment which comes with the manual labour of baking a cake. In subsequent years, … Continue reading The IKEA Effect: When Creation Leads to Overvaluation

EtonomicsSeptember 9, 2022March 27, 20231 Comment

International, US

Chaebols of South Korea

South Korea’s economy has a highly developed mixed economy. By nominal GDP, the country has the 4th largest economy in Asia and the 10th largest globally. However, there is something special about the South Korean economy that distinguishes it from others: it is dominated by chaebols. Understanding these chaebols is a necessity for anyone who aims to understand South Korean capitalism and society. The word … Continue reading Chaebols of South Korea

Ameya PatkarJune 7, 2022March 27, 2023Leave a comment

Economics, US

Bust to Boom: How the American economy thrived during WWII

The USS Gerald R Ford, the USA’s latest aircraft carrier, took more than eight years to build. In contrast, by 1945, the US Navy finished the production of an aircraft carrier every week. The US was the only allied country to emerge from the war with its economy not only intact but thriving, and the only economy which saw an expansion of consumer goods despite … Continue reading Bust to Boom: How the American economy thrived during WWII

Philip WeaverMarch 28, 2022March 27, 2023Leave a comment

Economics, International, Long Read

Modelling Supply and Demand: An Investigation of Price Volatility

Introduction For those who have lived through a pandemic, price volatility is no new phenomenon. In the early days of lockdown restrictions, dramatic images of empty shelves surfaced across media outlets, prompting fears of widespread shortages and price increases. Economic theory provides a standard explanation: a change in consumer preferences (as the jargon goes) results in a rightwards shift in demand. This leads to shortages, … Continue reading Modelling Supply and Demand: An Investigation of Price Volatility

Chenyang LiOctober 13, 2021March 27, 20234 Comments

Behavioural, Finance and Markets, International

Forever blowing bubbles

Be fearful when others are greedy and greedy when others are fearful. – Warren Buffett Buffett uses this mantra every day, along with his two other ground rules for running his investment firm Berkshire Hathaway: So why does the 90-year-old legendary investor hold these core mantras? One possible answer can be found by considering the history of investment bubbles. One of the first recognised “bubbles” … Continue reading Forever blowing bubbles

Ollie WeldonMay 19, 2021March 27, 20232 Comments

Smoke stack with yellow sign reading "carbon tax" in the foreground

Economics, Environment, US

Should a form of Carbon Pricing be introduced in the US?

Since 1896, when global warming was first publicly shown to be a consequence of burning fossil fuels, humanity has wrestled with the conundrum of how best to respond to this looming threat. Against the background of politicisation associated with climate change, economists have argued over the benefits and detriments of introducing a carbon tax: a way of taxing companies which emit greenhouse gases so as … Continue reading Should a form of Carbon Pricing be introduced in the US?

Jamie GinsbergMay 19, 2021March 27, 20231 Comment