Aggregate Demand and Supply
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Aggregate Demand and Supply
Factors affecting Aggregate Demand & Supply
Curated by Bruce Fellowes
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Shell to cut another 2,200 jobs - BBC News

Shell to cut another 2,200 jobs - BBC News | Aggregate Demand and Supply | Scoop.it
Royal Dutch Shell is to cut at least another 2,200 jobs, in addition to 10,000 announced earlier this year.

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Graham Watson's curator insight, May 25, 5:53 PM
The decision by Shell to cut jobs - including 475 in the UK and Eire is likely to trigger a negative multiplier effect in those parts of the UK affected by the closures. In part, this 'rationalisation' is a direct response to the group's merger with BG Group.
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Burger flippers deserve bonuses, bankers do not - FT.com

Burger flippers deserve bonuses, bankers do not - FT.com | Aggregate Demand and Supply | Scoop.it
If bonus or “incentive pay” schemes work so well for senior executives and bankers, why does everyone not get them? After all, many jobs involve making important decisions or taking risks. Is there anything about corporate decisions and financial

Via Graham Watson
Bruce Fellowes's insight:
Pay inequality
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Graham Watson's curator insight, May 25, 6:48 PM

Diane Coyle writes a straightforward piece about the lunacy of executive pay - it's well worth a read and I particularly like the concluding sentence. Spot on. Or if you insist, it highlights the differences between extrinsic and intrinsic rewards for doing a job.



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Against the grain

Against the grain | Aggregate Demand and Supply | Scoop.it
The fad for the Andean staple has not hurt the poor—yet

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Graham Watson's curator insight, May 25, 6:20 AM
I don't normally 'scoop' from "The Economist" because it's behind a firewall but this article is just so good that I can't resist.

There are so many applications of demand and supply theory that every post-16 economist should be able to analyse the implications of the recent surge in demand for quinoa. I suspect that more will be able to draw the relevant diagrams than pronounce the name of the superfood.
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More youngsters shut out of work or training, study finds

More youngsters shut out of work or training, study finds | Aggregate Demand and Supply | Scoop.it
Long-term analysis says official statistics underplay larger proportion of young people shut out of work, education and training

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Graham Watson's curator insight, May 25, 5:38 AM

This article highlights but doesn't specifically mention the 'h' word: hysteresis. However, it does spell out the consequences of long-term unemployment for the young.


Youth unemployment represents a major problem: it reduces the stock of human capital, can contribute to significant wage scarring effects and increases economic inactivity.

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British property market has peaked, estate agency boss says

British property market has peaked, estate agency boss says | Aggregate Demand and Supply | Scoop.it
Sellers will have to cut prices to find buyers, says Paul Smith, whose company operates Haart, Felicity J Lord and others
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Halfords pays £18m for Welsh online bike merchants Tredz and Wheelies

Halfords pays £18m for Welsh online bike merchants Tredz and Wheelies | Aggregate Demand and Supply | Scoop.it
Bruce Fellowes's insight:
Local example of takeover. Tredz & Wheelies are both in Swansea
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Bricklayers benefit from rising demand in construction sector

Bricklayers benefit from rising demand in construction sector | Aggregate Demand and Supply | Scoop.it
Skills shortage means brickies earning up to £1,000 a week and Brexit could exacerbate situation, say recruiters

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Graham Watson's curator insight, May 24, 2:44 AM
Lovely example of derived demand - the demand for brickies is derived from the demand for houses - and proof that every story has a Brexit angle. I've already given my children croissants for breakfast - I guess IDS will be appearing on the Today programme arguing that there's no harm in them having toast. 
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Jeremy Corbyn calls for new economics to tackle 'grotesque inequality'

Jeremy Corbyn calls for new economics to tackle 'grotesque inequality' | Aggregate Demand and Supply | Scoop.it
Opposition leader says growth demands major change in way economy is run, as shadow chancellor vows to rewrite rules
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Electricity from seawater: New method efficiently produces hydrogen peroxide for fuel cells

Electricity from seawater: New method efficiently produces hydrogen peroxide for fuel cells | Aggregate Demand and Supply | Scoop.it

Scientists have used sunlight to turn seawater (H2O) into hydrogen peroxide (H2O2), which can then be used in fuel cells to generate electricity. It is the first photocatalytic method of H2O2 production that achieves a high enough efficiency so that the H2O2 can be used in a fuel cell.

 

The biggest advantage of using liquid H2O2 instead of gaseous hydrogen (H2), as most fuel cells today use, is that the liquid form is much easier to store at high densities.

 

"In the future, we plan to work on developing a method for the low-cost, large-scale production of H2O2 from seawater," Fukuzumi said. "This may replace the current high-cost production of H2O2 from H2 (from mainly natural gas) and O2."

 

Read more at: http://phys.org/news/2016-05-electricity-seawater-method-efficiently-hydrogen.html#jCp


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Sepp Hasslberger's curator insight, May 21, 12:49 PM

Hydrogen peroxide to be used in fuel cells does not seem like a bad idea. It's non-toxic, and if it can be produced using sunlight, it may well have a future.

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UK's labour market has boomed, but what about productivity and wages?

UK's labour market has boomed, but what about productivity and wages? | Aggregate Demand and Supply | Scoop.it
Employment rate reaches record high, but wage growth is running behind and EU referendum fears have yet to show

Via Graham Watson
Bruce Fellowes's insight:
As discussed in the last week or so 
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Graham Watson's curator insight, May 19, 3:41 AM
Larry Elliott reflects on yesterday's labour market data and wonders why, if employment is so buoyant, wages and productivity aren't too.
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UK jobs market 'could be cooling off' - BBC News

UK jobs market 'could be cooling off' - BBC News | Aggregate Demand and Supply | Scoop.it
The UK unemployment total falls slightly, but the Office for National Statistics says the jobs market could be "cooling off".

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Graham Watson's curator insight, May 18, 8:37 AM
There's a suggestion that the jobs market is close to the natural rate of unemployment and thus further falls in unemployment are unlikely. There's been a mixed reaction to this, with the government focusing on the positives and economists more generally highlighting the fact that this implies that there's been a slowing of economic activity.
Matt Morris's curator insight, May 22, 9:30 PM

Article about unemployment in the UK and the anticipated trends based on the current economic cycle.

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More than 8 million in UK struggle to put food on table, survey says

More than 8 million in UK struggle to put food on table, survey says | Aggregate Demand and Supply | Scoop.it
Food Foundation reveals scale of food insecurity, with 4.7 million thought to be regularly going a day without eating
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Strawberry fields for ever? UK wage laws 'will kill off fruit farming'

Strawberry fields for ever? UK wage laws 'will kill off fruit farming' | Aggregate Demand and Supply | Scoop.it
Hospitality firm says new pay rates could make British strawberry an unaffordable luxury and make it unprofitable for farmers to grow

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Graham Watson's curator insight, May 16, 4:21 PM

Lots of good microeconomics here: how factor costs affect supply, the impact of the National Living Wage, the role of price and so on.


The story looks to isolate how the market for British strawberries is likely to be adversely affected by recent labour market intervention, although it's a little bit over-dramatic. Yes, price is likely to go up, but I suspect that there would still be a market for them. It's just that the market would shrink. 


There's also an interesting cross-price elasticity angle - clearly British strawberries and other varieties, notably Spanish, are substitutes but the degree of substitutability might be lower than you might think. 

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China re-opens steel mills despite pledge to cut production - BBC News

China re-opens steel mills despite pledge to cut production - BBC News | Aggregate Demand and Supply | Scoop.it
Despite pledges to cut steel production, China is reopening some of its mills.

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Graham Watson's curator insight, May 25, 5:50 PM
This BBC clip suggests that the Chinese steel industry is re-opening some of its steel mills, months after some of them shut down and despite pledges that the country is going to cut steel production. This is likely to mean bad news for British steelworkers - on the day that Tata is starting to look for a buyer for its UK-based assets.
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Reboot: Adidas to make shoes in Germany again – but using robots

Reboot: Adidas to make shoes in Germany again – but using robots | Aggregate Demand and Supply | Scoop.it
"Adidas, the German maker of sportswear and equipment, has announced it will start marketing its first series of shoes manufactured by robots in Germany from 2017. More than 20 years after Adidas ceased production activities in Germany and moved them to Asia, chief executive Herbert Hainer unveiled to the press the group’s new prototype “Speedfactory” in Ansbach, southern Germany. "

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Fracking wins battle in Yorkshire but not the war | Damian Carrington

Fracking wins battle in Yorkshire but not the war | Damian Carrington | Aggregate Demand and Supply | Scoop.it
Damian Carrington: For those backing fracking, the approval of exploration plans at Kirby Misperton is a vital victory, but they are fighting growing public opposition

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Graham Watson's curator insight, May 25, 6:01 AM
The Guardian nails its colours to the mast: it's anti-fracking, apparently...
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Toyota and Volkswagen invest in ride-hailing apps: 'the future of mobility'

Toyota and Volkswagen invest in ride-hailing apps: 'the future of mobility' | Aggregate Demand and Supply | Scoop.it
Toyota announced partnership with Uber as Volkswagen puts $300m into Tel Aviv-based app Gett, in move that could pave way for apps to use self-driving cars
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The London skyscraper that is a stark symbol of the housing crisis

The London skyscraper that is a stark symbol of the housing crisis | Aggregate Demand and Supply | Scoop.it
Exclusive: Tower underoccupied, astonishingly expensive, mostly foreign owned, and with dozens of apartments held through secretive offshore firms
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Food prices falling faster than official figures show

Food prices falling faster than official figures show | Aggregate Demand and Supply | Scoop.it
Official CPI figures for the price of food and drink are vastly different from those unearthed by an ONS project which ‘scrapes’ supermarket website price data

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Graham Watson's curator insight, May 23, 6:33 PM
The Guardian appears to have monopoly on interesting stories today: this article suggests that there are some grounds for questioning whether CPI data is accurate in relation to food prices. However, the study concerned may well have some methodological limitations.
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Green really is the new black as Big Oil gets a taste for renewables

Green really is the new black as Big Oil gets a taste for renewables | Aggregate Demand and Supply | Scoop.it
Shell, Total, Statoil, even Exxon - they’re all at it. But are the recent moves into solar and wind power lip service, fashion, or a real shift away from fossil fuels?
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House prices could fall by 18% if Britain quits EU, says George Osborne

House prices could fall by 18% if Britain quits EU, says George Osborne | Aggregate Demand and Supply | Scoop.it
Chancellor predicts Brexit would cause an ‘economic shock’ but pro-leave minister dismisses ‘extraordinary claim’
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Forget Elon Musk's Batteries—Let's Fix the Grid With a Rock-Filled Train on a Hill

Forget Elon Musk's Batteries—Let's Fix the Grid With a Rock-Filled Train on a Hill | Aggregate Demand and Supply | Scoop.it

The Advanced Rail Energy Storage is a 19th century solution for a 21st century problem. 

 

In April, the Bureau of Land Management approved an ARES—that’s Advanced Rail Energy Storage—project, conceived by a Santa Barbara-based energy startup called, well, ARES. By 2019, ARES operations head Francesca Cava says, the facility will occupy 106 acres in the excellently-named town of Pahrump, Nevada. By running a train up and down a hill, ARES can help utilities add to and subtract from the grid as needed.

 

The Nevada project has a power capacity of 50 megawatts and can produce 12.5 megawatt-hours of energy. That’s relatively large, especially compared to a lot of battery storage projects. But it might not be large enough to make money. “Fifty megawatts doesn’t get us to economies of scale,” ARES CEO James Kelly admitted in an interview with UtilityDive. “We are more efficient as we get larger.”


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Sepp Hasslberger's curator insight, May 21, 7:59 AM

Storing energy by moving a heavy train upwards against gravity and recovering the energy as it comes back down into the valley... not saying it doesn't work, but it seems awfully heavy and expensive.

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Sluggish UK economy likely to hold back inflation

Sluggish UK economy likely to hold back inflation | Aggregate Demand and Supply | Scoop.it
Despite the weakness in core inflation, many economists expect a post-Brexit bounce

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Graham Watson's curator insight, May 18, 4:19 AM
Larry Elliott reflects on yesterday's inflation figures and the state of the UK economy going forward. All straightforward stuff.
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Japan’s planned coal plants could cause thousands of air pollution deaths - Energydesk

Japan’s planned coal plants could cause thousands of air pollution deaths - Energydesk | Aggregate Demand and Supply | Scoop.it
As world leaders travel to Tokyo for the latest meeting of the G7 nations, host country Japan has come under fire for its controversial coal power expansion plans.
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