Margaret Thatcher became Prime Minister in 1979 at a time of political and economic turmoil. The inflation rate had reached over 25% just three years prior, unions were striking at every possible opportunity, the country was in a mess. At the same time, economic growth had stagnated with unemployment reaching a 30-year high of 7%Continue reading “The Economic legacy of Thatcher’s government”
Category Archives: Monetary Policy
Economics of cryptocurrency
In 2008, the mysterious Satoshi Nakamoto founded the first cryptocurrency, Bitcoin, hoping that it would one day be used for daily transactions and also a way for investors to work around the traditional banking infrastructure after the Economic Crash. Since then, Bitcoin and other cryptocurrencies have surged in popularity in the economic world, reaching andContinue reading “Economics of cryptocurrency”
The British housing crisis
House prices in the UK have reached astronomical levels as they are now 65x higher than they were in 1970. The average house price has gone from £4,000 to £260,000 in the last fifty years. This growth greatly exceeds that of average wages that have only increased 36x in the same period. Such a disparityContinue reading “The British housing crisis”
Declining homeownership
Homeownership levels in most developed countries have fallen over the past decade. In the UK, the rate of homeownership reached a peak of 73% in 2008; by 2017, this figure had fallen to 63%. The same phenomenon has been witnessed in similar western nations. The homeownership rate in the US has fallen by 10% sinceContinue reading “Declining homeownership”
Rising inflation
Inflation rates are reaching record highs in most developed countries across the globe. In the US, inflation climbed above 6% in October for the first time since the 1980s. The same phenomenon is currently being witnessed in the UK, as inflation climbs above 4% – a first in 10 years. The recent spike in inflationContinue reading “Rising inflation”
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