Would Keynesian policies be a more viable method to deal with the economic crisis?

INTRODUCTION The Keynesian School of economic thought, was developed in the 1930s by the British economist John Maynard Keynes to understand the Great Depression. The scale of Keynesian theory span across the Atlantic in the post war decades, after its adoption in war-time Britain for macroeconomic management. Comprised of various macroeconomic theories, such as how … Continue reading Would Keynesian policies be a more viable method to deal with the economic crisis?

NPR: Why Kids Don’t Work Their Way Through College Anymore?

The answer to that question isn’t because they’re lazy. It is math. A summer job just doesn’t have the purchasing power it used to have in relation to tuition fees. Not to mention the minimum wage, pricing unskilled job seekers out of the labour market. Inflation caused by credit expansion on behalf of the central … Continue reading NPR: Why Kids Don’t Work Their Way Through College Anymore?

Uber GoCatch Drivers Pay More For GPS Plan

Now Uber (the ride-sharing private market transport service) provides the government benefits, it is now set to be legalised in Victoria following other state governments. Under new changes announced by the NSW Government, Uber and GoCatch will have their insurance premiums calculated their GPS data. “The Government has been working on this for 15 months, … Continue reading Uber GoCatch Drivers Pay More For GPS Plan

Currency Devaluation

Currency devaluation is a form of monetary policy in which it reduces the value of a currency with respect to those goods, services or other monetary units that the currency can be exchanged with. Currency devaluation can only be part of a hampered market with a central bank, “[since] the Bretton Woods system the US … Continue reading Currency Devaluation

CPI vs GDP Deflator

In this article the Consumer Price Index and GDP deflator will both be covered, leading on from introducing them in the article on Macroeconomics – Theory & Data. The increase in the overall price level is called inflation, therefore, economists use the GDP deflator and CPI to measure Inflation. “The first difference is that GDP … Continue reading CPI vs GDP Deflator