Before the war, Britain and France were the world's largesteconomic powers. Despite winning, the impact of WWI affected negatively their economy. Given this, the United States emerged as the leading economic power, taking advantage of being part of the winning side without hosting battles in the...
The choice of growth model can have a large impact on results as shown in Fig. 8. Figure 8a shows the per capita GDP series for the UK. Figure 8b shows the same series de-trended by subtracting a linear growth rate. Figure 8c shows the same series de-trended using a conventional ...
it could have an adverse impact on manufacturing around the world. With low prices, manufacturers are likely to lay off workers, or give them excessively low wages. If wages and prices are inadequate, debt bubbles in other parts of the world are likely to collapse. This will happen...
“The second is to tackle the productivity collapse in parts of the public sector, and to gain greater control over levels of spending.” Well much of what the public sector does in entirely negative (over regulation of everything, road blocking, net zero, bans on petrol diesel cars, energy...