Why did the chicken cross the road? To avoid a tax—but instead, it got an entire truck tariff named after it. Picture a situation in which a dispute over fried chicken led to a trade conflict that ultimately influenced the choices of vehicles people drove. Doesn’t that sound ridiculous? Ahh, trade policy. The U.S. imposed a 25% tariff on import light trucks in the 1960s … Continue reading Chickens
The Paradox of Progress – Why Technological Advances Aren’t Boosting Wages Introduction Technological advances have always been the main driver of economic growth and prosperity; major historical events such as the Industrial Revolution (1760-1830), and –more recently – the rise of the internet have brought around higher productivity, and with that, higher wages. However, although events past the 1980’s (such as the rise of artificial … Continue reading The Paradox of Progress
“The Economic Impact of Chinese New Year: Growth, Disruptions, and Opportunities” The Spring Festival, also known as Chinese New Year, just took place. It is not only a time of cultural celebration but a period of great economic activity in China. The impact on its economy is huge, affecting tourism, retail, manufacturing and also transportation. The Spring Festival is one of the most celebrated annual … Continue reading The Economics of Chinese New Year
The contrasting antitrust challenges faced by Google in the EU and the US highlight the different regulatory approaches to addressing Google’s monopoly in the markets of online search and digital advertising, specifically in areas like search engine services, search text ads, and ad exchanges. In Europe, the company has encountered fines totalling billions, often linked to long-standing concerns over market abuse. However, the EU’s recent … Continue reading The Google Antitrust Cases
“Growth for the sake of growth is the ideology of the cancer cell” – Edward Abbey, The Second Rape of the West, 1975. In the above quote, Abbey refers to the shrinking wilderness of his beloved Arizona, industrialised by resource extraction and urban expansion. However, such a statement goes far beyond wilderness: when economic expansion is the common goal, it damages the very foundations that … Continue reading When Growth Fails
Stephanie Kelton’s The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy (2020) is a provocative challenge to the macroeconomic paradigm of the past century that sees persistent elevated budget deficits as a failure of fiscal management. Kelton, a former economic advisor to progressive US Senator Bernie Sanders, argues that the political aversion to deficits is based on a fundamental failure to … Continue reading Book Review: The Deficit Myth
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