Inelastic Supply - The World Runs Low on Single Scotch Malt
An almost perfect example here of inelastic supply in action. By law, all Scotch whisky must be aged for a minimum of three years and it takes several years for new distilling capacity to come online.
Economic damage of polluted waterways in Bangladesh
A short but revealing news video on the economic impact of polluted rivers in Bangladesh. Huge areas of waterways have been wiped out by illegal land reclamation and the dumping of toxic waste.
Zimbabwe's Nine Legal Tender Currencies
After the disastrous hyperinflation of recent years, the old Zimbabwean currency was abolished in 2009. Now there are nine different currencies accepted as legal tender on the streets. Will the...
China's petrol price floor
Fuel prices are plunging in many countries across the world but not in China where prices at the pumps are frozen when global crude oil prices dip below $40 a barrel. Perhaps the price floor is a...
A New Phase of Globalization
This short interview from Boston Consulting Group is interesting - there is some useful evaluation in here about the pace of globalisation and how the accepted norms are being challenged (e.g....
Britain's biscuit shortage
You may have noticed signs in supermarkets apologising for the lack of Bourbons and Custard Creams on the shelves in recent months, due to the flooding of the United Biscuits factory in Cumbria...
Consumers are key to sustaining Chinese economic growth
China is expected to approve a five-year economic plan this week. Economic growth in the world’s second largest economy has been slow and the Chinese government is betting on consumer spending to...
Beyond the Bike - assessing the Thai economy
This week's Beyond the Bike resources focus on assessing the prospects for the Thai economy, and the role of communication technology in easing business.
Ethical dilemmas facing Japanese academics
This short video from the Financial Times highlights the remarkable potential of ultra fast robotic hands that can beat literally anyone at rock, paper scissors! But the dramatic progress in...
Ad Blocking - free markets at their best or worst?
Yesterday, Culture Secretary John Whittingham described Ad Blocking software as a “modern-day protection racket”, yet for many users of the internet they represent a support mechanism that improves...
Welfare reforms will hit the poorest new study finds
An IFS study, published today, is to reveal that changes to the welfare bill over the next five years will increase child poverty, with the poorest seemingly most affected, especially those with...
China cuts reserve requirement ratio to stimulate credit
The Chinese central bank has opted to reduce the reserve requirement ratio by 0.5% in a bid to inject more liquidity into their financial system. This is reported here. The cash to deposits ratio...
A radical idea for reviving the North
The Head of OFSTED, Sir Michael Wilshaw, warned last week that secondary schools in Liverpool and Manchester were ‘going into reverse’. Too many pupils in Northern towns and cities are simply not...
Indonesia's Infrastructure Ambitions
The Economist reports here on ambitious plans to overhaul the Indonesia's backward infrastructure - inefficiencies hamper growth prospects. This news video is an excellent contextual example of the...
Brighton's Smart Sugar Initiative
Brighton claims to be the first city to have launched a 'war on sugar' and this Channel 4 News clip looks at how the city has started to tackle the issue of information in the food industry....
Japan issues a 10 year government bond with a negative yield
The Japanese bond market had an historic day on Tuesday, selling 10-year bonds at a negative rate or yield. The news was the front page headline in the Financial Times. It seems that the negative...
Mass lay-offs of workers in zombie companies and in industries with chronic excess capacity might have been the preferred adjustment policy for China in the past, but economic and social conditions...
Lego targets Asia and Africa to sustain rapid growth
The family-owned toy maker Lego has reinforced their position as the world's biggest toy maker and now they are focused on expanding in Asia and also (eventually) in Africa. At present, 80% of...
Uneven economic growth in UK cities
Here's an interesting report (in both a short and long version) that you may like to share with your students if you are looking for analysis on inequality and uneven economic growth within the...
Innovation in the Collective Brain
A new paper from academics at the London School of Economics seeks to dispel the myth of the heroic grand inventor. Cultural variance and tolerance of diverse ideas together with the size of...