Putting aside the very real human cost, war has also serious economic costs – damage to infrastructure, a decline in the working population, inflation, shortages, uncertainty, a rise in debt and disruption to normal economic activity. From some perspectives, war can appear to be beneficial in terms of creating demand, employment, innovation and profits for …
A look at the economic and social impact of Mrs Thatcher’s economic policies. Summary of Thatcher’s Economic policies Belief in the desirability of free markets over government intervention. E.g. pursuing policies of privatisation and deregulation. The pursuit of supply-side policies to increase efficiency and productivity. Reducing the power of trades unions and increased labour …
Readers Question: What is the economic impact of proposed welfare benefit freezes proposed by Chancellor, Mr Osborne? Mr Osborne has proposed a welfare freeze, worth £3 billion of savings over two years. This benefit freeze includes Jobseeker’s Allowance, Income Support, Child Tax Credit and Working Tax Credit, Child Benefit and Employment Support Allowance (paid to …
We tend to consider the impact of immigration on our own country. – How do immigrants affect UK unemployment? UK housing? UK labour markets? and GDP (e.g. economic impact of immigration). However, the flip side of the coin, is how does migration affect developing economies? Recently, the World Bank reported that migrants working in developed …
Readers Question: Use the ideas and theories you have encountered in your study of the macroeconomic business environment to assess the possible impacts on China of holding the Olympic games in Beijing in 2008. The Olympic Games will effect the Chinese economy in the following way. Increase in Tourism. This is a short term effect …
In February 2022, western economies imposed sanctions on Russia in response to the invasion of Ukraine. These sanctions were wide-ranging including banning exports of many goods to Russia, freezing Russian foreign reserves and recently the EU has proposed banning Russian oil exports. In response, Russia has retaliated by cutting off gas supplies to Europe causing …
Economic sanctions are policies designed to hurt the economy of a target country. Sanctions can involve trade embargoes, seizure of assets, travel bans and limits on capital flows. The aim of sanctions is usually to provide a political signal of disapproval which stop short of military action. They can be imposed by one country unilaterally, …
Economic growth means an increase in real output (real GDP). Therefore, with increased output and consumption we are likely to see costs imposed on the environment. The environmental impact of economic growth includes the increased consumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats. However, not all …