Essays on topical issues, latest developments in UK and global economies, and answers to readers questions
Evolutionary economicsPosted on November 12, 2018
Evolutionary economics is a branch of economics which views the economy through a dynamic model of constant change, adaptation, chaos and revival. Evolutionary economics was coined by radical economist Thorstein Veblen (1857-1929). Veblen was interested in psychological factors that often gave better explanations for economic behaviour than traditional rational choice theory. For example, Veblen noted …...More
America’s Rural – Urban Economic DividePosted on November 9, 2018
The political map of the US increasingly represents a divided America, and this political divide has roots in an increasing economic divide. In brief – rural areas tend to have lower average incomes (though also cheaper rent) higher rates of unemployment, declining population, reliance on one major employer and more concentrated on the primary sector …...More
The Catch-Up EffectPosted on November 8, 2018
The catch-up effect (or convergence theory) suggests that poorer countries will experience a higher rate of economic growth and, over time, get closer to the income levels of the developed world. In other words, there will be a reduction in the gap between the rich and the poor because low-income countries have more opportunities …...More
A selection of e-books available from economicshelp.org. Includes NEW syllabus for AS and A Level Economics.