Progress in Reducing Extreme Poverty Grinds to a Halt
This World Bank clip looks at how the events of the last three years - coronavirus and the war in Ukraine has stopped global poverty reduction, and actually pushed over 70 million people into poverty.
Import Substitution - Senegal fights to end dominance of imported rice
This Reuters video clip highlights one of the disadvantages of free trade - it exposes economies to global economic shocks - and in this case, food shortages in India, and restrictions on its...
UK-EU Trade hit by Non-Tariff Trade Barriers
There are signs that the decision by the UK government to leave the single market of the European Union is having a damaging impact on UK exports to our largest trading partner.
Edible Economics - A Hungry Economist Explains the World
When the economist Ha-Joon Chang arrived in Britain in the eighties, he was struck by how bland and homogeneous the British diet was. But it wasn’t just the food – in mainstream economic thinking...
The Circular Economy - Roads Can Be Recycled Forever, Why Don't More Cities Do It?
This Business Insider video clip suggests that asphalt is endlessly recyclable: however, regulations often limit the extent to which it can be recycled, with many having a 30% limit.
Economic Shocks - How shocks have hit growth in South Asia
This World Bank clip looks at the resilience of the South Asian economy in the wake of a series of recent shocks - floods in Pakistan, the economic crisis in Sri Lanka and the war in the Ukraine....
Contestable Markets - Amazon launches Amazon Insurance Store
Here is an example of a market where an established, scaled business uses their brand awareness to facilitate entry to a new sector. Amazon is launching a home insurance price comparison service...
We've just been looking at the US-China trade war, and you might be forgiven for thinking that in the post-Trump era it's over. But is in't.
Inflation reached 10.1% in September - prices are now rising at a 40-year high. The BIG decision facing the UK government is whether the value of the state pension will rise by the same amount in...
Brexit: How leaving the EU hit the UK
The Financial Times has published a new video on the economic consequences of Brexit for the UK economy, and it is safe to say that the overall conclusion is that the hard form of Brexit that came...
How Europe is cutting power consumption
This Guardian article looks at what EU nations are doing to cut energy consumption.
Price Elasticity of Demand - Glastonbury raises ticket prices to £340
How price sensitive are fans of the Glastonbury Festival? We are about to find out. Significant price increases have been announced for 2023. Tickets for next year's Glastonbury Festival will cost...
RIP Trussonomics - The Chancellor's Emergency Fiscal Statement
Trussonomics is over. I've had cheese in my fridge for longer than Trussonomics has lasted. Here are the key points from the statement issued by the newly-installed Chancellor, Jeremy Hunt.
NHS investment boosts economic growth
A new report from health consultancy Carnall Farrar claims that every £1 invested in the NHS translates into an overall economic return of £4 in the local area. This is a good example to add to...
Siemens CEO calls for EU import quota for wind turbines
Renewable energy economics meets trade protectionism in a fantastic applied example for your Year 13 macroeconomics!
Marginal Cost - Why are Olympic Curling Stones so expensive?
Business Insider provide us with another luxury good video, this time curling stones, with each stone costing over $600.
IMF meetings expose the fragility of the world economy
Larry Elliott's piece for the Observer is, I think, astute about the implications of last week's IMF meetings. It seems that the 2008 global financial crisis spelt out the dangers of...
The global rise of solar power seems unstoppable, and in the Indian desert, a new solar power farm at Bhadla Park has the capacity to generate significant electricity.
Is another debt crisis looming for emerging countries?
Are we reaching a critical juncture for developing economies - and the brink of another debt crisis?
Chancellor Kwarteng is sacked
The Chancellor of the Exchequer, Kwasi Kwarteng has been sacked after serving just 38 days in the job. Jeremy Hunt will take his place.