“Where and who creates the money?” Looks like Newton’s “Law of conservation of energy: Energy never be created nor destroyed”. To be more clear, I will explain with 2 examples. First case : I work in a big retail company in USA and get paid bi-weekly. How my company is getting money? Retail company makes …
Readers Question: Should Greece Leave the Euro? Arguments for and against Greece leaving the Euro. One thing is clear, the Greek situation is dire. Government debt is very high, yet extremely harsh austerity measures have only succeeded in pushing the economy back into recession and leading to much higher unemployment. Within the Eurozone, Greece is …
A two speed Europe refers to how, within the EU, economies are growing at different rates and are at different stages in the business cycle. For example, countries in the core of the Eurozone (Germany, Netherlands, France) have seen relatively good recovery since the recession. In these countries, unit labour costs have remained competitive, enabling …
(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 …
In recent years, the gap between average female wages and men’s wages have decreased, however, for various reasons, men’s pay is still higher than women. Reasons for Gender Pay Gap Career breaks to have children (Studies have shown that women without children have a much smaller pay gap than women who take time off work …
Readers Question: I’m not studying economics, just a normal person trying to make some decisions about my future and asking for advice on just how bad things are going to get over the next few years. I have a pessimistic friend who says currencies will collapse and I should be stocking up on tinned food, …
For many goods we expect the price to be determined by market forces – by supply and demand. For example, computers, cars, holidays, food e.t.c. However, there is another class of good where society dislikes the idea of prices being set by market forces. The best example is football tickets or Concert tickets. . In …
Readers Questions – why do restaurant charge different prices, for instance high price for water and reasonable price for food? ‘Serve them a drink before they can blink’ – this is what I remember learning when I worked in a Little Chef. We were taught to waste no opportunity to sell extras – drinks, water, …