Category: Topical Research
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Why did the US abandon the Gold Standard?
What was the gold standard, what was the problem and what do we use now? Currency is a factor that is heavily influenced by and also influences trade – when countries, or companies within those countries, exchange goods, they do not exchange them for other goods but rather a currency, which is fiat money in…
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Auction Theory
Looking into auction theory and the information asymmetries, among other problems, faced. Building on the previous article about information asymmetries, one specific example in which this can happen are auctions – there can be information asymmetries between buyers themselves, as it is unknown how much each potential buyer is willing to pay. So, the buyers…
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What is the best way to measure economic welfare?
The following article is a copy of an essay I submitted to the Immerse Essay competition at the start of the year and was highly commended for and won one of their partial scholarships, awarded to 7% of the total 5000 entrants. Essentially, the nation’s level of prosperity – economic welfare must be measured to…
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What are ‘left-behind’ areas?
What defines a ‘left-behind’ area, and how did they end up like that in the first place? Inequality is a concept that plagues every country, whether it be a developed or a third-world nation, and it is no different for the United Kingdom. London exemplifies this, containing 13.4% of the UK population, yet generating 22%…
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COVID and Inequality: Health
In this last article, and thus the final argument of the essay, we move on to the impact of the coronavirus pandemic on health inequality, and in what forms this may have taken place. In addition, we collect our arguments and state our conclusion to the question ‘How has the COVID-19 pandemic impacted inequalities?’. Finally,…
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COVID and Inequality: Education
The second inequality we investigate in this series of articles is education inequality – how has COVID affected students, from pre-school to post-16? Education is vital for any economy, as it provides a skilled labour force and leads to future economic growth through a positive feedback loop. Therefore, when a global pandemic strikes, causing millions…
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COVID and Inequality: Wealth
In the first argument of the essay this is adapted from, we look at how the pandemic affected wealth inequality, whether it be positively or negatively. Firstly, wealth is defined as ‘an accumulation of valuable economic resources that can be measured in terms of either real goods or money value’[1]. As mentioned previously, the metric…
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COVID and Inequality: Introduction
The following series of articles will be based on and adapted from an essay I wrote for the NCH Economics Essay Competition 2022 (hence the formal language), answering the question ‘How has the COVID-19 pandemic impacted inequalities?’. I was a Finalist in this competition, meaning I was in the top 5% of the 5000+ entrants…
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The Royal Family
The Royal Family of Britain has extended over a millennium, but their influence has seemingly declined as time passed, which begs the question – how important are they to current British society? The United Kingdom has properties usually associated with traditional economies such as preserving the power of the royalty, with the Queen of England…
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Brexit: Conclusion
Brexit has been a controversial decision, and throughout the previous few articles, we have explored its different impacts. Now, it is time to bring these together to decide whether it was a good decision or a devastating mistake Throughout this series of articles, we’ve discussed the many negatives and few positives of the decision, especially…
Economics 101 