What can the UK Learn from the Greek Economy? Which is Worse – UK or Greece EconomyWatch this video on YouTube Which country was one of the fastest-growing European economy in the past three years? Yes, you’ve correctly guessed, it was Greece. To the north, the once mighty German economy is struggling to avoid recession, …
In the 1970s Venezuela was widely admired for its functional democracy and the highest living standards in Latin America. There was good reasons to be optimistic. Venezuela has the largest known reserves of oil in the world. Greater than Saudi Arabia, Iran and the US. Yet in recent decades, the economy has lurched from crisis …
Inflation is a situation of rising prices in the economy. A more exact definition of inflation is a sustained increase in the general price level in an economy. Inflation means an increase in the cost of living as the price of goods and services rise. The rate of inflation measures the annual percentage change in …
In the past few years, the UK has seen a rise in the tax burden, but at the same, the UK has seen a reduction in the average rate of economic growth. Is low growth leading to a higher tax burden or is it the high tax burden which is itself contributing to sluggish growth? …
Around 2000, something remarkable happened to the Italian economy. It stopped growing and went into a 20 year long-decline. Even if you adjust for population, Italy’s performance was strikingly worse than its main competitors. If we look at productivity, Italy fell far behind. It has effectively lost two decades with real wages remaining virtually stagnant. …
The British Wage Disaster – Why Wages Lower than EUWatch this video on YouTube Compared to many major European economies, UK average wages are lower and this is before we take into account relatively higher housing costs and longer working hours for British workers. In the past 15 years, the UK has seen pretty much …
Reader’s Question: Why does printing money cause inflation? Does this always occur? Summary If the money supply increases faster than output then, ceteris paribus, inflation will occur. If a government prints extra money, households will have more cash and more money to spend on goods. But, if the amount of goods stays the same, the …
In May 2010, the Conservative coalition entered government against a backdrop of the great financial crisis, which had sent the pound tumbling, a deep recession and record government deficits. Cameron and Osborne blamed the crisis on high debt and wasted no time in imposing austerity measures on the economy. Yet, 14 years after the start …