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Some articles to help understanding of Unit 3 Economics
Curated by Phil Hensman
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World's eight richest people have same wealth as poorest 50%

World's eight richest people have same wealth as poorest 50% | #A2MIC | Scoop.it
A new report by Oxfam warns of growing and dangerous concentration of wealth
Phil Hensman's insight:
Poverty and inequality across the globe. What are the impacts of this?
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University to lower entry grades for poor - BBC News

University to lower entry grades for poor - BBC News | #A2MIC | Scoop.it
The University of Bristol is to offer places with lower grades to disadvantaged students in local schools.
Phil Hensman's insight:
Solving Social immobility... One university though... And does it help to pay for their fees/accommodation etc.
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English Premier League sells China TV rights for £564m

English Premier League sells China TV rights for £564m | #A2MIC | Scoop.it
Three-year deal with digital broadcaster PPTV is the league’s biggest ever
Phil Hensman's insight:
MRP - Look at how much the players earn for their clubs, that is their marginal revenue product...
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Vodafone fined £4.6m for serious breaches of consumer protection rules

Vodafone fined £4.6m for serious breaches of consumer protection rules | #A2MIC | Scoop.it
Company took money from pay-as-you-go customers but failed to provide service and its complaints handling process was flawed, Ofcom finds
Phil Hensman's insight:
Abusing monopoly power as consumers have no choice...
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US drug company hiked price of acne cream by 3,900% in less than 18 months

US drug company hiked price of acne cream by 3,900% in less than 18 months | #A2MIC | Scoop.it
Novum Pharma, bought the rights to Aloquin cream, which contains two cheap ingredients, in 2015 and almost immediately increased the price by 1,100%
Phil Hensman's insight:
SNP, R&D. Is this ok?
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Pay teachers to move to areas with failing schools, says inequality tsar

Pay teachers to move to areas with failing schools, says inequality tsar | #A2MIC | Scoop.it
Improving teaching in disadvantaged areas is best thing the government can do to make Britain more equal, Alan Milburn says
Phil Hensman's insight:

Solving inequality and social mobility

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Schools 'struggle to recruit teachers' - BBC News

Schools 'struggle to recruit teachers' - BBC News | #A2MIC | Scoop.it
Head teachers in England say schools face a deepening problem in recruiting enough teachers.
Phil Hensman's insight:

Monopsony power

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Mr Jones's curator insight, August 12, 2016 5:56 AM
Where the sellers - in this case potential teachers in subject shortage areas - have some influence over the market they may enjoy monopsony power
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Finland considers basic income to reform welfare system - BBC News

Finland considers basic income to reform welfare system - BBC News | #A2MIC | Scoop.it
The Finnish government of Juha Sipila is considering a pilot project that would give everyone of working age a basic income.
Phil Hensman's insight:

Poverty, Inequality, Poverty Trap, Unemployment Trap, Absolute v Relative

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'Shocking' inequality levels in Britain must be addressed, says John Major

'Shocking' inequality levels in Britain must be addressed, says John Major | #A2MIC | Scoop.it
Former Conservative prime minister wants to see greater concentration on people failed by the system
Phil Hensman's insight:

Poverty, Inequality

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Consumers in England to get choice of water services - BBC News

Consumers in England to get choice of water services - BBC News | #A2MIC | Scoop.it
Millions of householders in England could soon be given more choice over which company supplies part of their water services.
Phil Hensman's insight:

Breaking up monopoly power

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Cloud storage providers to face investigation by regulators - BBC News

Cloud storage providers to face investigation by regulators - BBC News | #A2MIC | Scoop.it
An investigation is to be launched into whether internet users are being charged unfairly when they use internet cloud storage services.
Phil Hensman's insight:

Regulation, CMA Intervention

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Mapped: Where is air pollution killing the most people?

Mapped: Where is air pollution killing the most people? | #A2MIC | Scoop.it
Air pollution breaches EU safety limits in several parts of the country - but where is it causing the most deaths?
Phil Hensman's insight:

Negative externalities in production

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Unequal pay: the life cycle of a woman's earning power

Unequal pay: the life cycle of a woman's earning power | #A2MIC | Scoop.it
From birth to retirement, 12 milestones that define and determine inequality for women
Phil Hensman's insight:

Reasons for pay differentials

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Uber blames humans for self-driving car traffic offenses as California orders a halt

Uber blames humans for self-driving car traffic offenses as California orders a halt | #A2MIC | Scoop.it
Regulators ordered Uber to take self-driving cars off roads in San Francisco and drivers were suspended after vehicles were caught running red lights
Phil Hensman's insight:
Creative destruction of creative destruction. Uber changed the taxi market, now they're doing it again 
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Low wages, threats, late payment – the life of football’s non-elite players

Low wages, threats, late payment – the life of football’s non-elite players | #A2MIC | Scoop.it
A report by global players’ union Fifpro has cast a harsh light on the precarious life faced by players operating outside the major leagues
Phil Hensman's insight:
Share your insight
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Proof of ID may be needed for NHS care, says health chief - BBC News

Proof of ID may be needed for NHS care, says health chief - BBC News | #A2MIC | Scoop.it
Patients could be asked to show proof of identity before they are treated, says health chief.
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Why is globalisation under attack? - BBC News

Why is globalisation under attack? - BBC News | #A2MIC | Scoop.it
There has long been a consensus that globalisation brings more jobs, higher wages and lower prices - but now many people are voicing their anger against free trade.
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Wealthy students keep earnings gap - BBC News

Wealthy students keep earnings gap - BBC News | #A2MIC | Scoop.it
Graduates from wealthy families earn significantly more in their careers than less well-off counterparts, says research.
Phil Hensman's insight:
Inequality, wage differentials, poverty cycle
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Opec meeting: Oil leaders' decision against output ceiling threatens Fed confidence

Opec meeting: Oil leaders' decision against output ceiling threatens Fed confidence | #A2MIC | Scoop.it
An Iran-Saudi dispute ended without any significant plans for a production limit.
Phil Hensman's insight:

Break up of a collusive oligopoly

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Tesco plastic bag use 'down 80% since 5p charge' - BBC News

Tesco plastic bag use 'down 80% since 5p charge' - BBC News | #A2MIC | Scoop.it
The number of plastic carrier bags taken home by Tesco shoppers in England has dropped by 80% since the 5p charge was introduced, data suggests.
Phil Hensman's insight:

Minimum Pricing impact

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Mr Jones's curator insight, December 5, 2015 8:59 AM

Not enough data to calculate estimate for price elasticity of demand but evidence suggesting a fairly 'elastic' response by Tesco shoppers to the introduction of a 5p charge on plastic carrier bags.

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UK pays among 'lowest prices' for cancer drugs - BBC News

UK pays among 'lowest prices' for cancer drugs - BBC News | #A2MIC | Scoop.it
The UK is paying less for new cancer drugs than a number of other high-income countries, according to a report in The Lancet Oncology.
Phil Hensman's insight:

Monopsony Buying Power

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Bruce Fellowes's curator insight, December 4, 2015 3:44 AM

Monopsony Power, as mentioned in A2 Economics recently

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UK households owe record £2.1bn in water bills

UK households owe record £2.1bn in water bills | #A2MIC | Scoop.it
More than 2.5 million customers struggling to pay water and sewerage bills with single people hit hardest, says regulator
Phil Hensman's insight:

Poverty, inequality, SNP

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Supermarket price war squeezes small supplier profit margins by a third

Supermarket price war squeezes small supplier profit margins by a third | #A2MIC | Scoop.it
Lawyers show smaller firms are biggest losers as larger rivals with more contracts and clout expand margins by forcing supermarkets to take hit on unit price
Phil Hensman's insight:

Monopsony power

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Taxi app Uber has now launched in Leicester

Taxi app Uber has now  launched in Leicester | #A2MIC | Scoop.it
Taxi-ordering app Uber has gone live in Leicester.

The company launched a service in the city at 4pm yesterday.

Earlier this week the Mercury revealed the city council had given the firm...
Phil Hensman's insight:

Creative destruction

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