A majority of Britain’s farmers voted for Brexit in the referendum. This is perhaps surprising in the context of an industry which receives around £3 billion in subsidies from the Common Agricultural Policy (CAP), and yet comprises only about 0.7% GDP. Of all the vested interests, British farmers have more to lose from Brexit than almost any other industry. From the public interest perspective, there is much to gain.
The 2008 financial crisis triggered the first contraction of the world economy in the post-war era. Amid falling wages and increasing unemployment, government capacity to address worsening social conditions was often constrained by mounting deficits, with social protection systems under threat when they were most needed. Children and young people, already at a greater risk of poverty than the population as a whole.
When I was interviewed on the Kathleen Dunn Show, I was prepared to talk about the health implications of educational debt for students. That changed when a father called in and shared his story about helping his children pay for college. This father wanted to protect his children from debt and was trying to do the “right” thing by his children, and it almost resulted in the loss of his home.
The physical aftermath of Storm Stella is now over. The tax aftermath of Storm Stella, however, has just begun. How can a winter storm cause taxes? Because New York State, under its so-called “convenience of the employer” doctrine, subjects nonresidents to state income taxation on the days such nonresidents work at their out-of-state homes for their New York employers.
Less than a year after the governments of the world came together to sign the Paris Agreement on climate change, the United States has inaugurated a new president, Donald Trump, who denounces the whole idea as a Chinese hoax. How did we get here?
For more than a century, capitalism has been the dominant planetary system for supplying people with, quite literally, their daily bread. It transformed our cultures and knit us together in a global network of buying and selling. But how do we understand it? How do we make sense of it? What do we talk about when we talk about capitalism? Recently we did a study to track talk of capitalism over two hundred years.
VW may have taken a big step towards resolving its emissions scandal in the United States with its recent guilty plea (at a cost of more than US$4.3 billion), but its troubles in Europe are far from over. Luxembourg has launched criminal proceedings and more countries may follow.
Singapore is a controversial subject, described as “The Big Apple of Asia,” or “Disneyland with Capital Punishment.” On the one hand, there are those who admire its efficient government and material accomplishments; on the other hand, there are those who deplore its antipathy to freedom of expression. We can all ask how much an authoritarian government stifles the creativity necessary to nourishing a productive society.
Despite unequivocal scientific evidence for anthropogenic climate change, many people are skeptical that climate change is man-made, or even real. For instance, lawmakers in North-Carolina passed a bill requiring local planning agencies’ to ignore the latest climate science to predict sea level rise in several coastal counties. They say that ignorance is bliss, but why would we not want to know useful information?
Could your glasses pay for themselves? In a manner of speaking, the World Surf League (WSL) and Visa would say yes. As part of the credit card company’s new official partnership with WSL’s Quiksilver and Roxy Pro Gold Coast (the first stop on the WSL Championship Tour), Visa is piloting payment-enabled sun glasses that “feature contactless payment capability and (eliminate) the need to carry cash or cards on the beach.”
With globalization and industrialization came both freedom and dependency, as Argentina shed the persistent stereotype that the country was simply a collection of farms and ranches. Rural and urban life blurred into a hybrid culture that thrived on export commodities and domestic consumption. To further illustrate how the urbanization of simple rural products shaped the culture and history of Argentina, we compiled some facts that help demonstrate how globalization had such an impact on Argentina from the end of the 19th century to the beginning of the 20th.
Today, 8 April, is John Hicks’ birthday. Hicks is well known for his publications such as The Theory of Wages and Value and Capital. He is considered to be one of the major figures in the history of British economics. This year marks 28 years since Hicks’ death and 45 years since he won the Nobel Prize for Economics. To mark this momentous day, we have created a quiz to see how well you know about this influential economist.
While the current US administration is re-examining the North American Free Trade Agreement and finding issues with the trade deficit, it is worth considering the impact of trade between the United States and Mexico and examining the history between these two nations. In the following excerpt from the forthcoming 2nd edition of Mexico: What Everyone Needs to Know, Roderic Ai Camp explores how Mexico has contributed to the US economy in recent years.
On 16 March, less than nine months after the public voted to leave the European Union (EU) in a hotly contested referendum, Britain enacted a law authorizing the government to begin the process of negotiating “Brexit,”— Britain’s withdrawal from the EU. Although there was much talk of “Bregret” following the referendum, recent polling suggests that British attitudes have not changed much since June.
Is speculation ingrained into American culture? Economists dating back to as early as John McVickar have analyzed the American enthusiasm directed toward speculation. History indicates that the American approach to enterprise has differed from its European counterparts since its inception. In this shortened excerpt from Speculation: A History of the Fine Line between Gambling and Investing, author Stuart Banner discusses the economic risks taken in early American history, and the cultural significance of speculation in the United States today.
The UK has yet to decide what relationship with the EU it will seek following Brexit. But whatever option it pursues, the government’s ability to achieve its goals will depend on the success of its negotiating strategy. To design a successful negotiating strategy, it is first necessary to understand the purpose of trade agreements. When a country sets trade policy unilaterally, it does not account for how its choices affect the rest of the world.