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How to interpret the published analysis on the consequences of a possible Brexit? How would exit from the EU affect the ability of the UK to share risk arising from macroeconomic shocks?
‘Hyper-globalisation’ and the power of finance culminated in the global financial crisis of 2008 that was potentially as severe as the Great Depression. The outcome was not public spending but austerity that hit the poor and Quantitative Easing that benefited the assets of the rich. The result was inequality and precarity, with barely any improvement in the standard of living for most by the time Covid hit. What signs are there of a much-needed transformation in attitudes to the economy?
Rapid economic growth in the emerging worlds has placed downward pressure of manufacturing wages in the advanced world. With increasingly lower real interest rates putting upwards pressure on asset prices, these twin forces have the propensity to accelerate income inequality. What do the facts say?
In 1977 or thereabouts a collection of scientists huddled around a secret radio receiver in the US desert. This was the start of GPS, Glonass, Gallileo and the whole navigation industry. But how does this technology work? And are there situations when it does not work?
In the long run, in an Internet society, it is claimed, we will neither need nor want doctors, teachers, accountants, architects, the clergy, consultants, lawyers, and many others, to work as they did in the 20th century. - Is this true?