The UK saw net migration of 330,000 in the last year. If net migration were to fall significantly – how would this affect the UK economy? Net migration is generally difficult to predict, but there are good reasons to assume this is likely to fall in future years. Net migration will likely fall because: Climate …
Readers question: Is there anything in economic theory that addresses what I would like to call “economic abuse” Where the profit of a what a worker does is ten to a hundred times what the worker earns to the Owner or Individual paying the worker. The worker earns $10 a day doing labour that the …
There have been numerous economic predictions springing from a possible Brexit including recession, unemployment, falling Pound, falling stock markets, collapsing house prices, inflation and the end of civilisation as we know it (I’ll leave predictions of world wars e.t.c. for someone else to grapple with). But, what is the economic theory behind these economic predictions? …
At this time of the year, my students are preparing for their exams with a mixture of trepidation, confidence, resignation, hope or fear. The best way to prepare is to simply do one thing at a time. Concentrate on making small improvements and importantly keep practising past papers. Students who just do a bit of …
A look at different aspects of UK economic history, concentrating on the different decades of the Twenty and Twenty-First Century. Includes histories of particular sectors, such as housing and the coal industry. The economy of the 1920s – a legacy of war debt, deflation and life under the gold standard The economy of the 1930s …
The economic cycle plays an important role in determining the level of government borrowing, especially in the short run. Essentially, higher economic growth leads to lower government borrowing, but a recession will increase government borrowing. Over the past few years (2008-12) – the idea that an economic downturn increases government borrowing is probably one of …
Economists attempt to make forecasts for leading economic variables such as Inflation Economic growth House prices Exchange rates Population growth The main importance of economic forecasts is to help policymakers make better decisions. For example, if the economy was forecast to enter into a recession, the government could consider implementing expansionary fiscal policy (higher spending …