Time: the invisible tax
Inflation is not just about prices but a growing tax on consumers time. The official measures of inflation focus upon the rise of cost. In these tough economic times an increasing number of people are fighting to reduce their costs. What we do not consider is the rising amount of time people spend shopping around. There’s a whole array of discounts available on the markets-whilst this is...
Rule of 72...not 42
We’ve all heard it the number 42 is “the answer to life the universe and everything”. Whilst the number 42 has uses its uses in fields of Mathematics, Science, Technology, Astronomy & Religion- it seems not in Economics. However in the world of Economics & Finance we have the 72 Rule. A very odd number (well mathematically its even). The rule of 72 is used to predict...
Austerity measures... Will it work?
We’re cutting household budgets but to really get the economy growing we need spending to go up. So with a tight purse that won’t happen. Governemnt spending is being slashed- it would have to be much higher than it is today. Supply Side Policies- We’ve been deregualting markets year on year but where are the jobs this reduction in red tape is meant to create? Do austerity...
A new kind of democracy...(quite old actually)
What the 60 Second Economist is referring to is your economic Vote. Believe it or not the economic vote has influence on politics and the economy. Each £1 (or penny) spent is an economic vote. Every time you spend some amount of money at your local supermarket you are essentially giving your vote to that company to stay in business over its competitors. However, many “economic voters” become...