Category: 20. Nations

GDP – Consumer Surpli

Consumer surplus is defined as the difference between the highest price a consumer would have been willing to pay and the price actually paid It’s the unquantified value customers obtain from tangible stuff they buy – such benefits include taking less time or effort to do things, obtaining more fun and pleasure from life, having …

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GDP – Flaws

At present, GDP is universally taken to be shorthand for national well-being Richard Tomkin, assistant director of the ONS – Office for National Statistics – says: “GDP is used as an all-encompassing proxy for people’s living standards although never designed for this and it doesn’t fully capture”  However, it was the late Robert Kennedy who said: …

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Puzzle – What puzzle?

“The Miracle Years Are Over – get used to It” So announced Ruchir Sharma, a contributing opinion writer for the NEW YORK TIMES, in a well-argued article reprinted with only minor tweaks below Across the world, economists have had to downgrade growth forecasts – but it’s not as bad as it sounds Last year (2018) …

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Productivity tops Brexit

An article by Peter Barker, Gui Tao and Xinhua – www.xinhuanet.com Improving productivity, instead of the Brexit issue, is the primary task facing the British economy at the moment, says renowned British economist Jim O’Neill “The UK being in or out of the EU (European Union) is not the most important thing facing our economic …

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Clusters need roads

An article by Maria Machancoses,  a director at Midlands Connectvestment, is fully reproduced below For centuries, good roads have influenced the way we live, work and trade As a nation that makes over 80% of journeys by road, and whose population is forecast to grow to 75m by 2050, investing in our ageing infrastructure is rightly at the top of the agenda. Rather than …

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