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Oil Consumption and GDP [infographic]

Oil Consumption and GDP [infographic] | Becket Economics | Scoop.it
This Infographic displays oil consumptions and gross domestic product, by year and country.

It summarizes and offers a comparison of annual oil consumption and gross domestic product per capita (in dollars) for USA, China, France, Gernany, India, Japan and Russia...


Via Lauren Moss, MChong
Clara Dunphy's insight:

China is still main consumer of oil

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DOSID's comment, February 26, 2013 4:04 AM
very informative. thank you
Electric Car's comment, February 26, 2013 4:17 AM
No problem :)
Mr Jones's curator insight, January 31, 4:55 AM

Excellent spot by Clara. Oil provides a great link for us between the Econ1 and Econ2 parts of the course

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Income Inequality

Income Inequality | Becket Economics | Scoop.it
Income Inequality, Political Cartoons, Comics, Editorial Commentary on the latest news, politics, cartoon memes and events around the world

Via Ramy Jabbar رامي
Clara Dunphy's insight:

clever cartoon shows how the top 1% are enjoying luxuries and see it more as a class divide rather than one considering income

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Obstacles to social mobility weaken equal opportunities and economic growth, says OECD study

Obstacles to social mobility weaken equal opportunities and economic growth, says OECD study | Becket Economics | Scoop.it

It is easier to climb the social ladder and earn more than one’s parents in the Nordic countries, Australia and Canada than in France, Italy, Britain and the United States, according to a new OECD study. Intergenerational Social Mobility: a family affair? says weak social mobility can signal a lack of equal opportunities, constrain productivity and curb economic growth.


Via Mashudu
Clara Dunphy's insight:

"weak social mobility can signal a lack of equal opportunities"

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How India's growth ended in tears - Telegraph

How India's growth ended in tears - Telegraph | Becket Economics | Scoop.it
High price of humble onion is emblematic of nation’s failures to invest in its future

Via Graham Watson, Mr Peel
Clara Dunphy's insight:

Staple food is more expensive due to food inflation. Rupee has poor exchange rate. People starving. Gvt using onions as a ploy to get more voters. Frightened away investment.

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Graham Watson's curator insight, August 26, 2013 4:28 AM

This is a nice article, extrapolating from the microeconomic story of the higher price of onions in India and suggesting that this is indicative of macroeconomic failings. It is well worth a read; it is a very clever piece.

Mr Peel's curator insight, September 9, 2013 6:32 AM

If you have time, this is a short article worth reading - looking at the problems faced in India. Some great material looking at economic development and how a series of factors can impact on the success of an economy. 

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NewsAd

US "stands ready" to help Ukraine rebuild ailing economy #NewsAd link http://t.co/l1LiHHUBif
Clara Dunphy's insight:
Fears that Ukraine's debt-laden economy is facing default have sparked panic on markets
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Fizzy drinks tax needed - doctors

Fizzy drinks tax needed - doctors | Becket Economics | Scoop.it

Fizzy drinks should be heavily taxed and junk food adverts banished until after the TV watershed, doctors say, in a call for action over obesity.


Via Mark Seccombe
Clara Dunphy's insight:

more than just taxes are causing obesity, its also advertising thats the culprit for inelastic responses to tax

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Negative Externalities: Supermarket energy drink ban for under 16s

Negative Externalities: Supermarket energy drink ban for under 16s | Becket Economics | Scoop.it

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A2 Micro - Labour Market Failure: The older workers who keep going

A2 Micro - Labour Market Failure: The older workers who keep going | Becket Economics | Scoop.it

Via Economics KSF
Clara Dunphy's insight:

According to official figures, there are 32,000 people in the UK who are in their 80s and still hard at work, a figure that has increased by more than half in the past 10 years.


In England there are 1,453 GPs, 1,207 hospital doctors and 14,816 nurses and support staff still practising past their 65th birthday


There are 1.016 million workers over the age of 65 in the UKOf these, 324,000 are aged over 70 and 32,000 are over 80Some 12.7% of all men aged over 65 are in work, compared with 6.7% of womenIn the NHS in England there are 1,453 GPs, 1,207 hospital doctors and 14,816 nurses and support staff over the age of 65

Source: ONS/NHS

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The sales of Cheap Nike Shoes have experienced downturn in China market

China - The most popular online seller for Cheap Nike Shoes which website is www.clothestoworld.org has said that the www.clothestoworld.org Nike enterprise has recently released the outstanding achievement of the first quarter of the new fiscal year. The profit increasing of Nike¡¯s first quarter of the new fiscal year has been up to 38 percent. On the other hand, the operating income has been grown to 8 percent. However, the incoming of Nike in the Chinese market has been fallen to 3 percent.

 

In the industry view from website clothestoworld.org, the more difficult problem which has been encountered by Nike is short-term growth bottleneck in the Chinese market. In order to solve this problem, the Nike has actively made strategic adjustments to the selling strategic for Cheap Nike Shoes in Chinese market.

 

In the first quarter of the new fiscal year which has been ended on August 31, people could find Wholesale Nike Shoes that the net profit of selling for Cheap Nike Shoes has been rose to 780 million dollars which has rose 38 percent compared with 567 million sales volumes at last year. The Nike¡¯s charge man has also said that the company¡¯s posted revenue is 6.97 billion dollar.

 

The reporter from website clothestoworld.org has also noted that the sales volume of Cheap Nike Shoes in China has also had greatly decline although the wholly selling performance of Nike shoes had great increasing in the first quarter of the new fiscal year. Nike's latest filing for sales volume has shown with people that the company's revenue in the Chinese market was 574 million dollars which had been decreased by 3 percent.

 

In fact, Nike had already announced in July that the Nike¡¯s sales performance in China would have great declining. However, they may not avoid this kind of situation. In the near future, this problem would be solved as soon as possible.

 

The professional investment advisor has pointed out that the Adidas¡¯s growth performance was not better than that of Nike. This is mainly because Adidas¡¯s failure in the Russian market. The Russian market has been regarded as Adidas's third largest market which could help Adidas have well competition with Nike. On the other hand, the downturn of the global golf market has also caused a greater impact to Adidas.

 

For Nike¡¯s downturn in Chinese market, some industry insiders such as Handbags Wholesale website clothestoworld.org have believed that this is mainly because the strategies of Nike. Although Nike does not have too much substantive channel development initiatives, they have also taken many actively measurements to adjust their strategies.

 

Media Contact
E-mail: clothestoworld@gmail.com
Website: www.clothestoworld.org


Via John Alle
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What Has Happened Since the Last Rio? [INFOGRAPHIC]

What Has Happened Since the Last Rio? [INFOGRAPHIC] | Becket Economics | Scoop.it

Indigenous peoples are the most greatly affected populations by climate change, the so-called “green economy” (which is bullshit in my opinion), and further exploitation by greedy capitalists.

 

Furthermore, indigenous women and children are the most affected in this group. Hundreds have been tortured and killed by state military groups, corporate mercenaries, etc. and IPs have also been called ‘terrorists’ for defending their homes. This is an outright violation of their basic human right to live and right to self-determination, which concerns the individual, not the state or the government.

 

Their lives are hanging in the balance and we who can help them, must fight with them.

In the Kari Oca II Declaration, an updated and more modern version of the Kari Oca Declaration which was part of the Rio 1992 conference, indigenous peoples from all over the world, including the IPs from the Philippines, call on everyone to defend their right to self-determination and to look to traditional ways of progress.

 

The last sentence of the declaration says that “We walk in the footsteps of our ancestors.” I believe we have walked too far from ours. It’s time for solidarity, and it’s time to face the struggle for justice, not just for indigenous peoples, but the entire order of the universe itself.

 

The Kari Oca II Declaration can be downloaded here; learn what the voices of the mountains and the seas are singing about.

 

This infographic is brought to you by Rappler, one of the Philippines’ online news blogs.

Via Jonha Revesencio
Clara Dunphy's insight:

It shows that the economy of Brazil has changed in the past 20 years, as it has higher GDP and a higher proportion of energy being supplied by renewable sources. However, a trend may appear as the population will continue to grow, and resources will run out and so there will be a higher demand and more wants and needs that wont be able to be satisfied as economic goods will run low.

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Google+ trends: iPhone 5, Canon EOS (Canon makes top 5 trends with 6D)

Google+ trends: iPhone 5, Canon EOS (Canon makes top 5 trends with 6D) | Becket Economics | Scoop.it
Android-inclined Google+ users are continuing to mock the latest iPhone and are buzzing about the newly launched Canon EOS on Monday, September 17. ...

Via planetMitch
Clara Dunphy's insight:

Highlights the constant changes within phones and technology today-shows what is 'cool' and what is now outdated. The iPhone 4 was a amazing product with such advanced technology that would not have been around even 10 years ago yet the constantly developing phone industry are always creating new, amazing products that cause new economic trends with sales and popularity.

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The war in Syria: 3 economic consequences of Western intervention - The Week Magazine

The war in Syria: 3 economic consequences of Western intervention - The Week Magazine | Becket Economics | Scoop.it
The Week Magazine The war in Syria: 3 economic consequences of Western intervention The Week Magazine ome form of U.S.-led military action against the regime of Syrian President Bashar al-Assad seems all but certain, thrusting the region into a...
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E-books added to inflation basket

E-books added to inflation basket | Becket Economics | Scoop.it
E-books have been added to the basket of goods used to calculate the UK's rate of inflation, but champagne loses its fizz.

Via Matt Smith
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Matt Smith's curator insight, March 12, 2013 9:36 AM

Really interesting piece on the basket of goods.

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U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion

U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion | Becket Economics | Scoop.it
WASHINGTON—"I've spent the last 24 years in this room yelling 'Buy, buy! Sell, sell!' but what have I actually accomplished?
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The Increasingly Unequal States of America: Income Inequality by State, 1917 to 2011

The Increasingly Unequal States of America: Income Inequality by State, 1917 to 2011 | Becket Economics | Scoop.it

The rise in inequality experienced in the United States in the past three-and-a-half decades is not just a story of those in the financial sector in the greater New York City metropolitan area reaping outsized rewards from speculation in financial markets. Rising inequality and increases in top 1 percent incomes affect every state.

by Estelle Sommeiller and Mark Price, Economic Policy Institute

Economic inequality is, at long last, commanding attention from policymakers, the media, and everyday citizens. There is growing recognition that we need an inclusive economy that works for everyone—not just for those at the top.


While there are plentiful data examining the fortunes of the top 1 percent at the national level, this report examines how the top 1 percent in each state have fared over 1917–2011, with an emphasis on trends over 1928–2011 (data for additional percentiles spanning 1917–2011 are available at go.epi.org/top-incomes). In so doing, this analysis finds that all 50 states have experienced widening income inequality in recent decades. [MORE]


Via Coffee Party USA
Clara Dunphy's insight:

"In four states (Nevada, Wyoming, Michigan, and Alaska), only the top 1 percent experienced rising incomes between 1979 and 2007, and the average income of the bottom 99 percent fell."

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Greg Russak's curator insight, February 19, 10:51 PM

Data doesn't lie.

 

Executive summary

Economic inequality is, at long last, commanding attention from policymakers, the media, and everyday citizens. There is growing recognition that we need an inclusive economy that works for everyone—not just for those at the top.

While there are plentiful data examining the fortunes of the top 1 percent at the national level, this report examines how the top 1 percent in each state have fared over 1917–2011, with an emphasis on trends over 1928–2011 (data for additional percentiles spanning 1917–2011 are available at go.epi.org/top-incomes). In so doing, this analysis finds that all 50 states have experienced widening income inequality in recent decades.

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Call for more affordable childcare

Call for more affordable childcare | Becket Economics | Scoop.it
Up to half a million more mothers could be in work if childcare was cheaper and more flexible, a report from the IPPR says.

Via Bruce Fellowes
Clara Dunphy's insight:

art-time nursery place costing more than £100 a week, unaffordable for unemployed mothers. gvt planning a scheme in 2015 to tackle issue with tax free childcare.

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Rising costs in China boost Bangladesh economy

As rising costs force many Chinese companies to move up the value chain, some Asian countries are benefiting from the move of low-end manufacturing to cheape...

Via Graham Watson, Mr Peel
Clara Dunphy's insight:

Reduction in production costs in Bangladesh, can pay workers $500 less. Cheaper to supply more than in China, whilst also helping Bangladesh economy to grow due to more work and investment.

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Graham Watson's curator insight, November 8, 2013 4:00 AM

This FT piece looks at the dynamic nature of comparative advantage and the rapid pace of change in the textile industry. In this case, its China that has lost its competitive advantage and Bangladesh has benefitted, a clear positive for a poor South Asian state.

 

Additonally, given the Rana Plaza disaster, perhaps this article might also help dispel the view that the Chinese are necessarily worse employers than Western companies. In this case the Chinese investment might well be associated with higher pay and better working conditions than so-called 'ethical' clothing firms who have been producing in the country.

Mr Peel's curator insight, November 8, 2013 5:35 AM

A look at the dynamics of comparative advantage

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Oil Consumption and GDP [infographic]

Oil Consumption and GDP [infographic] | Becket Economics | Scoop.it
This Infographic displays oil consumptions and gross domestic product, by year and country.

It summarizes and offers a comparison of annual oil consumption and gross domestic product per capita (in dollars) for USA, China, France, Gernany, India, Japan and Russia...


Via Lauren Moss, MChong
Clara Dunphy's insight:

China is still main consumer of oil

more...
DOSID's comment, February 26, 2013 4:04 AM
very informative. thank you
Electric Car's comment, February 26, 2013 4:17 AM
No problem :)
Mr Jones's curator insight, January 31, 4:55 AM

Excellent spot by Clara. Oil provides a great link for us between the Econ1 and Econ2 parts of the course

Rescooped by Clara Dunphy from #Econ1 Market Failure
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Government Intervention: Nursery toothbrushing saves £6m

Government Intervention: Nursery toothbrushing saves £6m | Becket Economics | Scoop.it

Via Matt Smith
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reduces amount of gum disease in children

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misschalk's curator insight, November 19, 2013 2:07 PM

Correcting Market Failure

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External costs - YouTube


Via Matt Smith, Mr Jones
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Mr Jones's curator insight, November 20, 2013 10:13 AM

Great application of the external cost concept to a real world situation.  Take note all you young, budding car drivers.

Rescooped by Clara Dunphy from F583 - A2 Labour & Leisure
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A2 Micro - Labour Market Failure: Women gain as gender gap 'narrows'

A2 Micro - Labour Market Failure: Women gain as gender gap 'narrows' | Becket Economics | Scoop.it
The gender gap is narrowing across the world, a World Economic Forum report suggests, with Nordic countries leading the way but Arab nations lagging behind.

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A2 Micro - Labour Market Failure: UK needs 13,000 hairdressers as jobs lie vacant - Telegraph

A2 Micro - Labour Market Failure: UK needs 13,000 hairdressers as jobs lie vacant - Telegraph | Becket Economics | Scoop.it
Britain's hairdressing industry has a £5bn annual turnover and employs 245,000 but is suffering from a staffing short back and sides with 13,400 vacancies waiting to be filled.

Via Economics KSF
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Dan Martin's curator insight, October 28, 2013 2:28 PM

This used to be an area overwhlemed with people looking for work, now it looks like that has reversed. Why?

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Lost generation facing life of low-paid, insecure jobs | Herald Scotland | #Thatcher

Lost generation facing life of low-paid, insecure jobs | Herald Scotland | #Thatcher | Becket Economics | Scoop.it

Lost generation facing life of low-paid, insecure jobs

Published on 17 April 2013

 

Robbie Dinwoodie

YOUNG Scots and women workers face a generation of blighted job prospects, according to a hard-hitting report examining the scourge of underemployment, over-qualification and changing practices in the workplace.

Although MSPs hope some of this will ease as the economy recovers, the fear is a legacy of low-paid, insecure jobs as a result of too many people being unable to secure full-time work making use of their skills and qualifications.

The term underemployment refers to people working fewer hours than they want to, or taking on jobs which do not use all their skills.

It was the focus of a Holyrood inquiry which warned the problem had grown significantly since the onset of the economic crisis five years ago, which hit young people particularly hard.

The Economy, Energy and Tourism Committee of the Scottish Parliament fears workplace practices introduced during the recession, such as zero-hours contracts which give no guarantees of work to employees, could persist long after the recession is over.

Committee convener Murdo Fraser said: "This inquiry has found the focus on headline unemployment or employment levels only provides one side of the story.

"Underemployment can have a similarly devastating impact on income and on the ability to secure long-term employment."

The Conservative MSP added: "While underemployment may decline when demand returns to the economy, we need action now to prevent negative labour market trends becoming embedded in Scotland."

The committee took evidence from a number of sources on the issue and analysed the difference between unemployment and underemployment, links to other unemployment trends, and the issue of so-called labour hoarding where employers seek to hang on to skilled staff in bad times.

The inquiry found young people were worst affected by underemployment, which was worst in the retail, social care and tourism sectors. "Not only does underemployment inhibit young people's capacity to be independent, but it has a long-term effect on employment prospects," stated the report.

The MSPs also found "a distinct gender profile," with women more affected (11.3% to 8.7%) because of the sectors involved and "caring responsibilities in relation to children and gender stereotyping".

The young are also bearing the brunt of the trend. "In percentage terms, young men aged 16-24 constitute 32% of the total number of male underemployed workers and young women aged 16-24 constitute 25.6% of the total number of female underemployed workers," the report claims.

"The committee is particularly concerned by the higher levels of underemployment experienced by young people. The situation has a particular impact on the least-skilled as it becomes harder for them to secure employment of any kind."

The report argues: "The committee is concerned there is a risk some of the trends that have emerged during the economic downturn – such as involuntary part-time work, self-employment where it is a replacement for employment, zero-hours contracts and temporary contracts with recruitment agencies – may become embedded in a way that makes work significantly more insecure, particularly for the young and unskilled."

Strong regional variations are also highlighted, with the level of the problem ranging from 13.6% in Dundee to 5.1% in Aberdeen, broadly relating to the general unemployment levels.

The disabled were also found to suffer more from the phenomenon, prompting deputy convener Dennis Robertson of the SNP to say: "Disabled people may be disproportionately affected by underemployment and we have called for more data to be collected on employment trends for these groups."

Talking of where young people, women and disabled people were finding themselves in the jobs market, Grahame Smith of the STUC said: "You might call it a twilight zone workforce that doesn't feel engaged and is not protected.

"A lot of criticism of young people is not true, but look at how they are treated in their first time at work."

A Scottish Government spokesman said: "The Government is always open to suggestions on what more can be done, within our limited powers, to address the negative impacts of underemployment here and now and will consider the report's recommendations carefully. However, work is already under way in a number of the areas highlighted for action. For example, the Commission for Developing Scotland's Young Workforce, led by Sir Ian Wood, is currently considering how young people can make an effective transition through the education system and be better prepared to succeed in the world of work."


Via 3MenInABlog
Clara Dunphy's insight:

As the title shows the econmic crisis at the minute is similar to that in the 80s when Thatcher was in power. 'Capitalist' views are again in the spotlight and many people are again unemployed, putting a strain on the economy as more people need to be supported by the welfare state.

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Rising onion prices sting India

Rising onion prices sting India | Becket Economics | Scoop.it
A staple of the Indian diet, onions are considered an indicator of the Indian economy, and rising prices are hurting ordinary people.

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India's economy continues slowdown

India's economy continues slowdown | Becket Economics | Scoop.it
The latest figures on the Indian economy show a growth rate of 4.4% for the April-June quarter, compared with the same period the previous year.
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The Obama economy: Growing number of destitute New Jersey residents found living in the woods

The Obama economy: Growing number of destitute New Jersey residents found living in the woods | Becket Economics | Scoop.it
The Obama economy: Growing number of destitute New Jersey residents found living in the woods

Via #BBBundyBlog #NOMORELIES Tom Woods #Activist Award #Scoopiteer >20,000 Sources >250K Connections http://goo.gl/ruHO3Q
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Tom Hauck's curator insight, August 28, 2013 1:54 AM

Thats what happens when your governor lays with Leftists...