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In the News
Brazil and Argentina start talks on a common currency
This is likely a fair way off but what a story to start the economics week! Brazil and Argentina are set to announce that they are starting preparatory work on a common currency, in a move which...
Should the Government Bail Out the UK Steel Industry?
The decision to grant British Steel another £300 million in rescue funding demonstrates the dangers of subsidising failing businesses. Having already intervened, if the government withdraw funding,...
Stiglitz on the Case for 70% Tax Rate on High Income Earners
Joseph Stiglitz argues here that there should be higher taxes for the super-rich suggesting that there's a case for an income tax rate of around 70% and a 2-3% wealth tax to reduce inequality. In...
Economics Weekly Quiz | 20 January 2023
Here's our weekly economics news quiz.
Warburtons battles soaring cost-push inflation
The cost of living crisis, a well-known bakers and a consideration of costs. Those studying Economics in Year 13 should, by now by aware of the importance of costs in determining price and quantity...
Calls for Social Tariffs mount when energy price support ends
A number charities and non-profit organisations are calling for the government to maintain its intervention in the energy market after April for those on the lowest incomes by offering a social...
Sri Lankan Debt Crisis Update
Sri Lanka's turmoil continues with the government choosing to defer the salaries of certain state sector employees (presumably not their own) due to the financial situation, and all ministries - of...
China's population falls for first time since 1961
Will China grow old before she grows rich? For the first time in sixty years and largely due to a steep decline in the birth rate, China's population declined in 2022. The population fell by...
Does the UK need a wealth tax on millionaires and billionaires?
The Guardian makes the case here for a wealth tax arguing that currently the four richest people in Britain own more wealth than 20 million of their compatriots.
Will the decision by Tesla to cut prices by more than 10% in the UK and up to 20% across Europe lead to a significant expansion of demand? This is a perfect short case study in price elasticity of...
Economics Weekly Quiz | 13 January 2023
Here's our weekly economics news quiz.
Sri Lanka caught in dance between rival geopolitical powers
A fantastic clip from BBC Newsnight looking at the fate of Sri Lanka in the wake of the debt crisis and the call for debt restructuring to enable Sri Lanka, as well as looking at the role of China...
UCAS set to replace personal statements from 2024
The university application landscape seems set for reform according to reports this morning. UCAS wants to replace a unified personal statement with a series of six questions. Admissions service...
Renewables - Could floating solar farms survive out at sea?
Innovation in renewable energy is featured here with engineers looking at whether floating solar farms are feasible. If they are, then it would seem to be a logical solution to providing power for...
BioNTech acquires UK AI business InstaDeep
Here is a fascinating example of external growth – what type of integration is occurring?
Global recession warning from the World Bank
Are we perilously close to a global recession? Well, the World Bank is worried to the extent that it has downgraded its growth forecast for 2023 to 1.7% and a result of the ongoing effects of the...
Atom Valley: Burnham’s vision for regenerating Greater Manchester
Regional inequality, levelling up, the Northern Powerhouse - call it what you will, but the last 12 years plus of Conservative government have produced lots of slogans but little progress. And I've...
Are hedge funds holding up vital debt relief for Sri Lanka
As Sri Lanka tries to recover from its debt crisis, it seems that the prospect of recovery will depend upon the extent to which it is able to cancel its existing debts.
Disposable Incomes - The Big Squeeze Continues
A new report from the Resolution Foundation finds that real disposable incomes will continue to get squeezed throughout 2023 and into 2024.
The petrol sector is under fire for proving Keynes right about sticky prices. Although petrol and diesel prices are falling, according to the RAC they're not falling fast enough. Wholesale prices...
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