Frances Coppola’s recent book, “The Case for People’s Quantitative Easing”, proposed a contemporary view on monetary policy of the past and how to alter it to achieve better results in subsequent crises. Jeremy Corbyn’s Labour government initially put forward the idea of People’s Quantitative Easing (PQE) in 2015, whereby the…

Keynes’ liquidity trap has prevented many central banks from implementing negative interest rate policy (NIRP). With interest rates so low and demand so dry in today’s modern economic environment, the once potent monetary policy is now becoming infertile. As interest rates approach zero, there is less scope for them to…

Introduction

Elizabeth Warren and Bernie Sanders are two advocates of a wealth tax. Thomas Piketty, a French economist, has also laid out a blueprint for the implementation of a fair and progressive global wealth tax. Some argue it can drive technological progress, others argue it will weaken it. Broader arguments surrounding…

Today, the Gaza death toll reached 200 following the reignited tensions between Israel and the State of Palestine in the single deadliest attack in the latest round of violence. Explosions have displaced children from their families and obliterated their homes. …

A brief history of US and UK interest rates

During times of uncertainty and lack of consumer confidence within an economy, they tend to fall. This was apparent during the global financial crisis of 2007–2008, when the UK Base Rate fell to its lowest level for 300 years. In July 2007 it stood at 5.75%, but fewer than 2…

Levelling up is the UK’s plan to use government support to boost specific parts of the economy. It involves investment in infrastructure in poorer, more neglected regions. Such spending allows governments to target specific areas of the economy that suffer from a lack of investment, which could spur private sector…

The Northern Ireland Protocol aims to allow Northern Ireland to remain within the trade bloc, while ensuring ties with the republic of Ireland are smooth. These new trade agreements allow some UK businesses to stay in the EU free-trade area, but are costing the governments a lot of money. …

The rise in inflation between August and September was the sharpest since the Bank of England gained independence in 1997, calling for policies to control it. Interest rate policy can reduce inflation by suppressing aggregate demand and forward guidance does so by managing inflation expectations. The former can be manipulated…

$10.4 trillion of global stimulus has reignited demand following prolonged lockdowns due to the coronavirus. However, the supply-side of the economy is suffering: vacant container ships are anchored off California waiting for ports to clear, while lorry drivers are receiving signing bonuses. These shortages are caused mainly by decarbonisation, but…

The resilience of the Vietnamese economy throughout the pandemic has been remarkable: GDP rose by 2.9% in 2020 even as most countries recorded deep recessions, while the World Bank expects GDP to grow by 4.8% in 2021. Its booming export industry has fuelled this growth, whereby trade in goods exceeds…

Ted Jeffery

A student passionate about economics and how the world works. New blog post every Monday.

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