Japan is the 4th largest economy in the world. It is a leader in electronic innovation, high-speed trains and robots. Yet, in the past two decades, it has seen an unprecedented decline in real wages. Whilst most economies have been trying to reduce inflation, Japan has been desperately trying to do the opposite – to …
How Ireland Overtook the UK economyWatch this video on YouTube In the post-war period the newly independent Republic of Ireland still lagged the richer UK economy across the sea. It was a largely agragrian economy, with wages 40% the level of the UK and widespread poverty. But, over the next few decades, the Irish …
There’s been no honeymoon for the new Labour government. Since the election in July, UK growth has continued its long-term trend of barely existing. Recent data disappointed analysts with output falling in the last two months. Monthly data is noisy, but it comes amidst business warning of a weaker labour market, with higher national insurance, …
2024 has seen UK house prices seamingly defy gravity once more, with prices rising back close to the all-time peak. If you bought an average house at the start of 2020, you would be sitting on capital gains of £53,000. A 25% rise. What Will happen to UK House Prices in 2025?Watch this video on …
Over the past 35 years, rents have risen faster than inflation. But, even as rents reach record levels, they are forecast to keep growing. The latest surveys show a continued mismatch between rental demand and rental supply meaning another year of inflation-busting rent rises. The problem is we have such a mismatch of supply and …
America is the richest country in the world, but America is also a story of two economies. Since 1980, real GDP has increased 300%, someone is definitely getting rich. But, it isn’t the average worker, because in the same period median wages have barely increased. In recent years, the US economy has outperformed the rest …
In 1957, the British Prime Minister Harold Macmillan proclaimed to the electorate “You’ve never had it so good”. And he had a point, full employment, a growing economy, debt falling rapidly, record house building, rising wages, universal health care and a growing sense of optimism that things would keep getting better. But, can you imagine …
After the invasion of Ukraine in 2022, western countries imposed a series of sanctions on Russia. Some claimed this would cripple Russian economy and led to a deep recession. But, the Russian economy seemed to shrug this off growing at 3.6% in 2023 making it own of the fastest growing economies in the G20. And …