Productive potential growth within an economy

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”

The poor state of the UK economy

The post-recession economic recovery in the UK has been far from great. The coronavirus outbreak hit the British economy harder than most, with GDP falling 12% in 2020 – the third largest contraction in the G20. GDP in six of the twenty G20 nations is now above pre-pandemic levels; at the same time, the UKContinue reading “The poor state of the UK economy”

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”