We may be in a longer recession than the 1930s Great Depression (see: link) but it hasn’t prevented the richest people in Britain increase their net wealth. The richest 1000 men and women have a combined wealth of £414bn, up 4.7% on the previous year. Richest People in the World 2012 1. The Walton …
Inflation in the UK remains relatively high given the state of the economy. It continues to be above the Bank of England’s target of 1-3%. However, the MPC will not be overly concerned about inflation. They are more worried about the weak prospects for economic growth and will be ‘hoping’ / predicting inflation will continue …
An Overview of the Indian economy in 2012 and its prospects for the future. (Depressed by events in Europe, a look at an economy with a very different economic outlook). Summary In the past few years, the Indian economy has been growing rapidly – (e.g. 8.5%2010-11). However, this growth has led to an increase in …
Three questions on quantitative easing, inflation and why inflation in the UK is high despite falling real incomes and lower consumer spending. Readers Question: Isn’t the government (of UK) already printing lots of money? The Bank of England have electronically created money and used this to buy government bonds from financial institutions. The Bank created …
(From my Oxford Cycling photos) The Office of National Statistics has an interactive site for people to contribute to concepts of what should count as ‘national well-being’. The ONS is currently developing a new index for well being and is inviting people to take part. Measuring National Well Being What is National Well-being? It is …
Readers Question: How can a larger government fiscal deficit case a larger international trade deficit Firstly, it is important not to confuse the two deficits. Government fiscal deficit occurs when government spending is greater than tax revenues. The deficit is the annual government borrowing requirement, measured by Public Sector Net Borrowing. International Trade deficit implies …
Readers Question: Using data and your economic knowledge assess the case for and against a government completely banning the sale and consumption of cigarettes. AQA (15) 1. Cigarettes are a demerit good. People underestimate the costs of smoking, e.g. lower life expectancy. It has been suggested that the true cost of a packet of cigarettes …
Readers Question: I keep reading about our country’s trade deficit which was £3bn in April. How does that work, if a country is spending more than it’s earning? Are we getting ourselves into more debt? I read that Germany has a trade surplus, which is not surprising but why can’t we do the same? There …