Tag: M25.3

Economics

The Dangers of a Cashless Economy

The Dangers of a Cashless Economy  Historically, currency has always been physical; whether that be in the form of £20 notes, gold coins or farm animals, the exchange of value has almost always occurred through the exchange of tangible objects. However, as the world progresses, currency evolves with it and the 2000s have seen the rise of contactless payments, cryptocurrencies and digital money as the … Continue reading The Dangers of a Cashless Economy

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Development, Economics

The Solow-Swan Growth Model

What is The Solow Growth Model?  Also known as the Solow-Swan model, the Solow growth model is a foundational economic framework often used to explain and recognise trends in long-run economic growth. It does this by looking at factors like capital accumulation, labour growth and productivity increases (often driven by technological progress).  Structure, Mathematics and Assumptions  N.B. this model assumes constant returns to scale, exogenous … Continue reading The Solow-Swan Growth Model

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