The Economic legacy of Brown’s government

From the moment Tony Blair was elected in 1997, it seemed inevitable that Gordon Brown would become Prime Minister. He took over from Blair in 2007 after the latter announced that he would resign his post within a year, during a conference in September 2006. This was due to internal pressure within the Labour Party,Continue reading “The Economic legacy of Brown’s government”

The Greek Economic crisis

To say the Greek economy has struggled over the past decade would be an understatement. Following the Great Recession of 2007-8, the state of the Greek economy was in calamity and by 2009 their budget deficit had exceeded 15% of GDP. The previous government had deficits that were greater than had initially been stated withContinue reading “The Greek Economic crisis”

Low Interest rates and inflation

Most economists consider interest rates and inflation to be inversely proportional. When real interest rates are low, periods of high inflation should occur and vice-versa. With this said, inflation in the UK has averaged a meagre 2% between 2010-19, whilst interest rates have stood at record lows. This pales in comparison with the 1990s, whichContinue reading “Low Interest rates and inflation”

Do trade deficits matter?

Economists have long considered free trade as mutually beneficial for all countries involved. With this said, during the 2016 US Presidential Campaign, free trade received criticism from the Republican nominee Donald Trump, who touted the decline in manufacturing jobs in the midwestern states as a consequence of trade liberalisation. The US has had a tradeContinue reading “Do trade deficits matter?”

Economics and environmental degradation

Economists and environmentalists alike have touted neoliberalism and environmentalism as mutually exclusive. Since the turn towards neoliberalism that started in the 1980s, global carbon dioxide emissions have increased by over 50%, from 22.7 to 36.4 billion metric tons. This has led many economists and experts alike to associate environmental problems with cost-cutting procedures, taken byContinue reading “Economics and environmental degradation”