A list of some modern-day protectionist measures, including tariffs, domestic subsidies to exporters, and non-tariff barriers which restrict imports. Types of Protectionism Tariffs – This is a tax on imports. Quotas – This is a physical limit on the quantity of imports Embargoes – This is a total ban on a good, this may be …
Definition: Mercantilism is an economic theory where the government seeks to regulate the economy and trade in order to promote domestic industry – often at the expense of other countries. Mercantilism is associated with policies which restrict imports, increase stocks of gold and protect domestic industries. Mercantilism stands in contrast to the theory of free …
Explanation of why government intervention to try and correct market failure may result in government failure. Summary Market failure is a socially inefficient allocation of resources in a free market. Market failure can occur for various reasons Externalities Demerit/merit goods Public goods Monopoly power Government failure occurs when government intervention results in a more inefficient …
Donald Trump and his vice-president have some unorthodox economic policies. Reduce prices, Higher Tariffs, lower tax, devalue the dollar and end immigration. But, will they work? Trumponomics – The Real Impact of Trump Economic PoliciesWatch this video on YouTube At the recent Republican convention, Trump vowed to end the inflation nightmare and bring prices down …
In the past 15 years, there is a general sense that many public services have been deteriorating. This isn’t just pessimism but backed up by longer waiting lists, crumbling infrastructure, even a record number of potholes. But this fiscal blackhole is likely to get worse before it gets better. The Hidden Financial Black Hole Waiting …
It’s official the UK entered into recession last year with GDP falling over a period of six months. However, with only a 0.4% fall in GDP some argue the recession is relatively mild. This is Not a Mild RecessionWatch this video on YouTube But, if we look at real output per capita, the UK economy …
For three decades, the Chinese economy boomed, transforming itself into the world manufacturing hub. Up to 70% of suppliers on Amazon rely on Chinese supply chains. Buy any electric good and it’s likely to say ‘Made in China’. But, the Chinese economy is in crisis. A property collapse has seen prices fall and flats remain …
10 Reasons Landlords Are SELLING UP in 2023Watch this video on YouTube For the past eight years there has been a net exodus of landlords from the private rental market – tighter regulations, tax changes and now the double whammy of inflation and rising interest rates is leading to a shortage of rental properties, …