Productive potential growth in an economy is a catalyst for growing living standards and prosperity. Productive potential refers to the potential output within an economy. The adoption of new production techniques increases the productive potential within an economy, as is the case with an increase in the availability of new resources and technology. However, neitherContinue reading “Productive potential growth within an economy”
Author Archives: Jamie Dean
Build Back Better?
During his Presidential campaign in 2020, Joe Biden ran on a ‘Build Back Better’ platform, promising to improve American infrastructure and public services in the aftermath of the coronavirus pandemic. Following its outbreak, the virus has caused a huge spike in unemployment, having risen from 3.7% prior to the pandemic to 13.5% at its peak.Continue reading “Build Back Better?”
The Economic legacy of the Blair administration
Tony Blair became Prime Minister in 1997. This came after a landslide election victory in which the Labour Party gained 145 seats, taking them to a total of 418 seats. With a majority of 179 seats, the Labour government held the largest parliamentary majority since 1935. The transformation of the Labour Party into ‘New Labour’Continue reading “The Economic legacy of the Blair administration”
The problem with price controls
Putting a cap on the goods that are rising in price sounds great in theory and has been popular with politicians in past. The imposition of these controls is designed to stop prices from rising whilst allowing civilians to purchase the same amount of goods that were previously being consumed. With this said, price ceilingsContinue reading “The problem with price controls”
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