Money is one of the oldest inventions of mankind, predating all written history. Although the money that we see today takes the form of cash in your wallet and the number in your bank account, this has not always been the case. Money is a medium through which goods and services can be exchanged. Because of this, money doesn’t have to be in the form … Continue reading What is Money and Why are Fiat Currencies the Best?
Given Britain’s imperial past and 47-year membership of the EU, it comes as no surprise that it now ranks amongst the world’s most multicultural societies. However, as the number of immigrants entering the UK has risen, so has public sentiment against immigration: this, of course, was mirrored by the result of the 2016 Brexit vote. Unfortunately, misconceptions around immigration have spread throughout British politics and … Continue reading Dispelling the myths of immigration
On the 31st of December 2019, the first report of Covid-19 was submitted by China to the World Health Organisation (WHO). Since then, the effects of the repeated loosening and tightening of preventative measures in the UK, including three national lockdowns, has seen unprecedented change in the UK’s economic performance. This comes on top of the disruptive influence of Brexit. There are twenty-one major economic … Continue reading Slide or Bounce? – The Post-Pandemic Prospects for the UK
In a world where virtual transactions are becoming increasingly commonplace, there is ever increasing speculation that we are becoming a cashless society. The term cashless society has come to refer to an economy in which physical money is no longer used for transactions; instead, all payments and financial dealings are conducted electronically through, for example, bank cards and online accounts. Many economies across the world … Continue reading What are the implications of becoming a cashless society?
What can twenty toddlers teach us about economic recessions? A lot more than you may think Continue reading Babies = Depression
On 8 November 2016, the prime minister of India, Narendra Modi, announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi series Continue reading India’s ambition to become a cashless society
The Return of Depression Economics combines Krugman’s narrative with his analysis of the significant economic recessions of the past century, culminating to the crisis of 2008. Krugman assesses the crises in the United States of the early 1900’s and the crises in Asia and Latin America of the 1990’s, before perceptively demonstrating their similarities to the Great Recession. He observes that we did not learn … Continue reading “The Return of Depression Economics” by Paul Krugman
“Few propositions command as much consensus among professional economists as that open world trade increases economic growth and raises living standards.” – Nicholas Mankiw, the Robert M. Beren Professor of Economics at Harvard University, once said of free trade. Although this view has been adopted by an overwhelming majority of economists (including Adam Smith himself), it has not experienced popularity among the Western electorate in … Continue reading Please, Mr Trump, free trade is not evil
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
This essay examines Mr Osborne’s decisions and actions in terms their economic and social impacts on the UK. Continue reading Austerity was a misguided policy
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