Economics of Work and Leisure - F583
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Supply side policy in operation - Universal Credit | Economics | tutor2u

Supply side policy in operation - Universal Credit | Economics | tutor2u | Economics of Work and Leisure - F583 | Scoop.it
A Level students are told that supply-side policies are the ultimate government response to support economic performance. If they can get the supply side polic
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Ageing populations and pension challenges - YouTube

Recent reforms have made pension systems more financially sustainable and pensioners have higher living standards than ever before. But future generations are likely to find their pension entitlements much less generous than today’s and many may face a serious risk of pensioner poverty, according to a new OECD report.


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Graham Watson's curator insight, December 1, 2015 5:12 PM

Of course, having been lifted by the last clip, I thought that in the interests of balance, I'd offer a more pessimistic view of the world, with the number of pensioners rising, and equally, the wealth of pensioners has reached a global high.

 

The losers? The young, who are likely to have less generous pension provision, in part as a consequence of not having had stable work patterns throughout their adult lives. As a result, they are at a very real risk of pensioner poverty.

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Inequality in the UK: 5% of households have assets in excess of £1.2m, 9% have none

Inequality in the UK: 5% of households have assets in excess of £1.2m, 9% have none | Economics of Work and Leisure - F583 | Scoop.it
Institute of Fiscal Studies report shows Britain is more unequal country when measured by wealth than by income
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Are big mergers bad for consumers? - BBC News

Are big mergers bad for consumers? - BBC News | Economics of Work and Leisure - F583 | Scoop.it
This year is set to be a record for company mergers. They're usually good for the companies involved - but how do they affect the consumer?

Via Geoff Riley
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Geoff Riley's curator insight, October 30, 2015 5:06 AM

This is an article full of gold dust for A2 micro students who want to explore further whether mega mergers are eventually in the interests of consumers. There is a widely held view that the majority of big takeovers fail to achieve the gains in shareholder value that were forecast. Do mergers help to improve economic efficiency - allocative, productive and dynamic? 

Rebecca Clark's curator insight, September 21, 1:00 PM

IMPACT OF MERGERS ON CONSUMERS

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How Mergers Damage the Economy

How Mergers Damage the Economy | Economics of Work and Leisure - F583 | Scoop.it
In too many industries, the competition among companies that makes markets work best just doesn’t exist anymore.

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Geoff Riley's curator insight, November 2, 2015 12:50 AM

This is excellent reading for students who are about to get stuck into market structures and economic efficiency. 

Rebecca Clark's curator insight, September 21, 12:59 PM

HOW MERGERS DAMAGE THE ECONOMY

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Robots may shatter the global economic order within a decade

Robots may shatter the global economic order within a decade | Economics of Work and Leisure - F583 | Scoop.it
'The pace of disruptive technological innovation has gone from linear to parabolic,' says Bank of America

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Graham Watson's curator insight, November 6, 2015 3:10 AM

Domo arrigato, Mister Roboto, as they say in Japan. Another snippet from the Telegraph which looks at the rise of automation. As a final homage to the late Colin Welland: "The robots are coming".

 

However, apart from an obvious deleterious effect on manufacturing employment, the main effect of this will be on the equality of inocme distribution - capital owners will gain at the expense of labour. (Ironically, the Telegraph channelling Thomas Piketty - how drole?)

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Monopsony Power in Action: Tata Steel warns suppliers over prices

Monopsony Power in Action: Tata Steel warns suppliers over prices | Economics of Work and Leisure - F583 | Scoop.it
Tata Steel has warned suppliers that if they don't slash prices by 30% then they risk losing Tata's business.

Via Geoff Riley
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Geoff Riley's curator insight, November 8, 2015 3:30 PM

Thanks to @Graham Watsonfor spotting this remarkable example of the market power of Tata Steels with their suppliers. Economists call this monopsony power. These are exceptionally difficult times for Western-based steel manufacturers. Can Tata realistically hope that their supplier-base will be willing and able to do enough to keep them afloat with global steel prices in free fall amid huge excess supply?

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Why Simple Brands Win

Why Simple Brands Win | Economics of Work and Leisure - F583 | Scoop.it
Complexity discourages loyalty.

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Geoff Riley's curator insight, November 9, 2015 5:11 PM

This is a US centric survey from the Harvard Business Review - but it emphasises an important point - simple, effective brands create value - they do what they say on the tin. 

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Monopsony Power: Kipper Williams on Carlsberg supplier payments

Monopsony Power: Kipper Williams on Carlsberg supplier payments | Economics of Work and Leisure - F583 | Scoop.it
Brewing giant has told suppliers it is extend its payment deadline to 93 days, in breach of European guidelines

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Geoff Riley's curator insight, November 10, 2015 4:48 PM

Trust Kipper to capture the funny side - but extending payment deadlines to over three months is not just a sign of the buying power of the industrial beer manufacturers but also not allowed under EU law. A bitter argument is brewing. Not that I would drink anything that comes out of a can. There is a well known saying that beer-makers sell what they can and can what they can't. The stuff in cans is dregs!

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Mega Takeovers: AB InBev's £71bn bid for SABMiller

► Beer brewer Anheuser-Busch InBev has formally offered £71bn for SABMiller


Via Geoff Riley
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Geoff Riley's curator insight, November 11, 2015 3:19 PM

I know lots of you are following this takeover as part of your business economics work. This discussion focuses on two key aspects of corporate mating - namely the search for cost-cutting and revenue synergies. Costs are like toe-nails, they need to be clipped constantly. How big will the economies of scale be for horizontal integration of two brewing giants?

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Non-price competition: Is Lidl ready for an upmarket rebrand?

Non-price competition: Is Lidl ready for an upmarket rebrand? | Economics of Work and Leisure - F583 | Scoop.it
In attempting to lure upmarket customers from Waitrose and M&S, 150 of the group’s 629 stores will be refitted with modern touches

Via Geoff Riley
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Geoff Riley's curator insight, November 15, 2015 2:38 PM

Lidl is spending hundreds of millions of pounds refitting and effecting a rebrand of many of their UK stores. Are they trying to move upmarket, moving from the no-frills approach to something approaching the Waitrose/M&S experience? The subtle changes of font and colour and eerily familiar for those of us who take their Waitrose bags to any supermarket we shop at!

markkennedy8's curator insight, November 15, 2015 3:23 PM

Good article for market competition type.

MKY

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Horizontal Integration: Marriott agrees $12.2bn merger with Sheraton hotels owner

Horizontal Integration: Marriott agrees $12.2bn merger with Sheraton hotels owner | Economics of Work and Leisure - F583 | Scoop.it

HorziontCash and stock tie-up between Starwood and Marriott will create world’s largest hotelier with 5,500 properties and more than 1.1m rooms


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Geoff Riley's curator insight, November 16, 2015 5:05 PM

A BIG merger in the global hotel industry. Hotel group International is buying rival hotel chain Starwood Hotels for $12.2 billion. It'll now become world's largest hotelier. As usual, look behind the headlines for some of the cost and revenue synergies that the deal is "expected" to create. According to the Guardian article, the groups said the tie-up would provide substantial economies of scale. The transaction is valued at $72.08 per Starwood share, representing a premium of about 19% on the share price before the merger rumours surfaced. 

Dan Martin's curator insight, November 18, 2015 4:33 PM

Growth of firms and horizontal integration. Another great example for you to supplement the theory with.

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Sunk costs: Redcar owner loses £530m on steel plant liquidation

Sunk costs: Redcar owner loses £530m on steel plant liquidation | Economics of Work and Leisure - F583 | Scoop.it
The bankrupt Thai owner of the Redcar steelworks has said that it lost almost £530m from the liquidation of the Teesside steelworks.

Via Geoff Riley
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Geoff Riley's curator insight, November 17, 2015 1:19 PM

Sunk costs are costs that cannot be recovered if a business closes down a plant or leaves a market. This is a prime example for your economics notes.

Dan Martin's curator insight, November 18, 2015 4:32 PM

Great example of sunk costs. Remember these are cost that can't be recovered if the firm leaves the market. Here the specialist machinery and equipment is no use outside steel production and given the state of the market no buyers seem likely for the surplus equipment.

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A simple way to show the pay gap between CEOs and ordinary workers | Economics | tutor2u

Top-paid British executives have salaries over 180 times larger than ordinary worker and I was quite taken by this very straightforward way of visualising the c
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Will Lidl’s living wage smash the UK’s low-pay cartel? | Aditya Chakrabortty

Will Lidl’s living wage smash the UK’s low-pay cartel? | Aditya Chakrabortty | Economics of Work and Leisure - F583 | Scoop.it
Corporations reward a tiny clique with millions, then deny decent salaries to ordinary workers. But the British model of doing business is now threatened by the radical act of a cut-price retailer
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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 | Economics of Work and Leisure - F583 | Scoop.it
From birth to retirement, 12 milestones that define and determine inequality for women
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Adapt or die: the new challenge facing UK manufacturers

Adapt or die: the new challenge facing UK manufacturers | Economics of Work and Leisure - F583 | Scoop.it
Falling oil prices, budget cuts and China's slowdown present a triple challenge for Britain's makers. How will they adapt to the new environment?

Via Graham Watson
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Graham Watson's curator insight, November 1, 2015 6:43 PM

The Telegraph again writing well about the current state of the UK economy - and it suggests that the UK can cope, but that this isn't the case for all firms.

 

But the best line is probably the following: "A report commissioned by the Government in 2013 highlighted that almost all forms of industrial subsidies resulted in “almost unmitigated failure”. That says an awful lot...

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Benefits of Vertical Integration: BP – why a low oil price isn’t all bad news

Benefits of Vertical Integration: BP – why a low oil price isn’t all bad news | Economics of Work and Leisure - F583 | Scoop.it
Profits might be lower, but collapsing energy prices also have an upside for oil giants.

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Geoff Riley's curator insight, November 3, 2015 5:15 AM

Upstream revenues hit by a sustained period of low global oil prices but downstream input costs also falling - two sides of the story for a vertically integrated BP that is still adjusting to the fall out from the Gulf of Mexico disaster.

Rebecca Clark's curator insight, September 21, 12:58 PM

Vertical Integration

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Price Discrimination in Action: The future of personalised pricing

Price Discrimination in Action: The future of personalised pricing | Economics of Work and Leisure - F583 | Scoop.it
As the blurring of the online and offline worlds continues, retailers must be transparent about the rise of targeted pricing

Via Geoff Riley
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Geoff Riley's curator insight, November 8, 2015 2:21 PM

A hat tip to Matt Smith for spotting this one and putting on his excellent twitter feed @EconomicsALevel 

 

This article from the Guardian will be a go-to resource when I start teaching the economics of price discrimination in a little while. Now more than ever businesses have the potential to harness information contained in digital profiles of customers to offer bespoke, personalised prices for different goods and services. The costs of market and consumer segmentation are coming down and this type of pricing behaviour is likely to become a more frequent occurrence in our daily lives.

 

Please do have a read and consider some of the efficiency and welfare implications of digital dynamic pricing.

Graham Watson's curator insight, November 8, 2015 4:42 PM

To lift Geoff Riley's insight in its entirety:

 

A hat tip to Matt Smith for spotting this one and putting on his excellent twitter feed @EconomicsALevel 

 

This article from the Guardian will be a go-to resource when I start teaching the economics of price discrimination in a little while. Now more than ever businesses have the potential to harness information contained in digital profiles of customers to offer bespoke, personalised prices for different goods and services. The costs of market and consumer segmentation are coming down and this type of pricing behaviour is likely to become a more frequent occurrence in our daily lives.

 

Please do have a read and consider some of the efficiency and welfare implications of digital dynamic pricing.

 

I don't have any more to add...

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Alliance but no Marriage? French PM: 'No Renault-Nissan merger'

Alliance but no Marriage? French PM: 'No Renault-Nissan merger' | Economics of Work and Leisure - F583 | Scoop.it
French Prime Minister Manuel Valls says the government does not want a merger between carmakers Renault and Nissan.

Via Geoff Riley
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Geoff Riley's curator insight, November 8, 2015 4:49 PM

One to watch - the much heralded and long-standing joint venture between Nissan and Renault seems to be under stress. French car manufacturer Renault owns 43% of Nissan, while the Japanese firm holds 15% of Renault. Is un mariage de convenance on the cards (eventually?) or would that end in tears? 

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Contestable Markets: Working out the UK gym industry

►The Gym Group, one of the UK's low-cost fitness chains and it is now listing on the stock market to fund future expansion


Via Geoff Riley
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Geoff Riley's curator insight, November 10, 2015 4:51 AM

Retail without the risk? The Gym Group is a low-cost fitness chains and one of many that is racing to open up new gyms by leasing some of the spare retail space on Britain's beleaguered high street. This FT Lex interview is just 3 minutes long but offers plenty for A2 macroeconomists.

 

The gym industry is highly fragmented at the moment - lots of private equity money is flowing into the sector, not least because it is one of the few industries that Amazon cannot capture! 

Rebecca Clark's curator insight, September 21, 12:57 PM

Contestable Markets

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Non-price competition: The arrival of personalised Marmite!

Non-price competition: The arrival of personalised Marmite! | Economics of Work and Leisure - F583 | Scoop.it
Hot on the heels of Nutella, Marmite has become the latest spread to unveil a personalisation service. For the first time ever, lovers of the 'Love it or hate it' condiment can get their name emblazoned across a tub at Marmite's pop-up shop in Westfield, White City or via the brand's Facebook page, where the service was announced.

Via Geoff Riley
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Geoff Riley's curator insight, November 11, 2015 2:34 PM

I once won a competition in which 1st prize was a year's supply of Marmite ...... it was one jar! The pop-up shop idea continues to catch on - why sink money into expensive retail leases when you can open up shops on a temporary basis to take advantage of seasonal demand?

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Contestable Markets: Apple 'to launch peer-to-peer payment app' in competition with PayPal

Contestable Markets: Apple 'to launch peer-to-peer payment app' in competition with PayPal | Economics of Work and Leisure - F583 | Scoop.it
Shares in Apple rise following reports the tech company will release a payment app allowing users to send each other money over their phones.

Via Geoff Riley
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Geoff Riley's curator insight, November 12, 2015 5:42 PM

One to watch over the coming weeks, perhaps a natural extension of Apple Pay?

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Were the Luddites right about technology and jobs? - BBC News

Were the Luddites right about technology and jobs? - BBC News | Economics of Work and Leisure - F583 | Scoop.it
The Bank of England's Andy Haldane raised key questions in a thought-provoking speech on the future of the jobs market, says Newsnight's Duncan Weldon.

Via Graham Watson, markkennedy8
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Graham Watson's curator insight, November 15, 2015 6:41 AM

An excellent article from Duncan Weldon on the substitutability of labour and capital, wondering whether the Chief Economist of the Bank of England, Andy Haldane, was correct in predicting that up to 15 million workers could be replaced by robots. 

 

It looks at the theory behind this: the displacement effect - when technology displaces workers; the compensation effect - where the rising productivity of workers and their higher wages creates new demand and new markets.

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Contestable Oligopoly: Soaring sales at Aldi and Lidl push market share to 10%

Contestable Oligopoly: Soaring sales at Aldi and Lidl push market share to 10% | Economics of Work and Leisure - F583 | Scoop.it
German-owned supermarket chains attracting 1 million more shoppers than last year, Kantar says

Via Geoff Riley
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Geoff Riley's curator insight, November 17, 2015 1:16 PM

I know that many students and teachers follow this one - the rise to prominence of the discount retailers is one of THE business stories of the last few years, it shows few signs of slowing especially as many of the dominant food retailers are shelving (sorry) plans for expansion! Check it out!