On July 13, Business insider posted an article based on Credit Suisse report headlined “’Mayday! Mayday!’ — Britain’s impending recession will kill nearly 500,000 jobs”. Similar predictions by other economists suggested an increase in unemployment post-Brexit, a labour market reaction similar to the financial crisis of 2008. However, data revealed by the ONS suggested that…
What is the Sharing Economy? New technologies and innovations have encouraged the rise of novel business models, collectively known as the sharing economy. Although definitions of the sharing economy may differ, the term is predominantly used to describe technology driven market places (platforms) enabling a wide variety of exchanges.[1] The appearance of such platforms has…
On 23 June 2016, the UK voted, in its referendum on EU membership, to leave the EU. British exit from the EU is commonly referred to as “Brexit”. In this note we shall consider five ways Brexit might be expected to effect real wages: GDP; the share of wages in GDP; immigration; regulation; and prices.…
“Into the woods you have to grope, but that’s the way you learn to cope. “Into the woods to find there’s hope of getting through the journey.” So sing the Baker, Cinderella, Little Red Riding Hood, and Jack (of the beanstalk fame) in Stephen Sondheim’s Into the Woods. Sondheim himself was caught up in a…
We left our heroes, Bathsheba Everdene and Gabriel Oak, trying to get a good price for their sheep at careers fair. This week’s analogy is another market, the oriental bazaar stall that is the job description. You can browse without any commitment and see if something takes your fancy, though you may be hassled by…