Economics Articles

Essays on topical issues, latest developments in UK and global economies, and answers to readers questions

Impact of increase in female labour market participation

Posted on April 19, 2018

A look at the economic impact of an increase in the supply of female workers in labour markets. In summary: Increased female labour market participation will lead to increase in supply of labour, and in theory, could lead to lower wages. However, a gradual increase in female labour market participation is often in response to …

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What is needed for specialisation?

Posted on March 31, 2018

Readers Question: Why does specialisation necessitate an efficient means of exchanging good and services, such as the use of money as a medium of exchange? Specialisation in the labour market means workers concentrate on specific jobs. Rather than learn every trade – electrician, plumber, manager, doctor, teacher – it is more efficient and practical if …

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What is the optimal quantity of beer to drink?

Posted on March 27, 2018

Question number 3 from What would Keynes do? – If I enjoy drinking beer. How much should I drink? Key quote “My only regret in life is that I did not drink more champagne.” John Maynard Keynes. If something is good to do – does it mean it is good to do it to excess? This …

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