International Economics: IB Economics

This simplistic clip looks at the trade-off between the need for social safety nets whilst simultaneously encouraging growth, achieving inclusive growth. It involves ensuring that tax rates are appropriate without being restrictive and balancing interventionist and market-based reforms. 

Larry Elliott provides an unusual  perspective on Brexit, and not one oft-cited, that the Left see Brexit as a good idea to escape the neo-liberal ideas of the EU. Far from seeing the EU as protector of workers rights, they see the federal state as broadly in line with big business and think that being outside the club might allow for national, interventionist policies that would otherwise be unthinkable. 

Larry Elliott shares his views on the recovery of developed economies in the aftermath of COVID, and makes a case for the US being the first major economy to genuinely recover. 

He argues, unsurprisingly, that the US approach of using active interventionist policy has borne fruit, although you might argue that this isn't an orthodox American approach, although the New Deal would suggest otherwise. 

He also suggests that whilst we might see the current issues as short-term, the reality is that growth has been subdued for the last 15 years in the aftermath of the financial crisis.