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The economics of Panini football stickers

The economics of Panini football stickers | Economics | Scoop.it
THE World Cup is still two weeks away, but for children worldwide (plus disturbing numbers of adults), the race to complete the Panini Brazil 2014 sticker book...
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Inflation: different impacts on different people

Inflation: different impacts on different people | Economics | Scoop.it
How bad is inflation?Like any good answer, your response to this question will include an element of evaluation, probably wrapped up in a sentence containing the phrase (RT @economicsuk: New blog entry: Inflation: different impacts on different people...

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Inflation: different impacts on different people

Inflation: different impacts on different people | Economics | Scoop.it
How bad is inflation?Like any good answer, your response to this question will include an element of evaluation, probably wrapped up in a sentence containing the phrase (RT @economicsuk: New blog entry: Inflation: different impacts on different people...

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One city's house price surge

One city's house price surge | Economics | Scoop.it
The UK city where property prices have doubled in a decade and values are starting to shoot up again - and it is not London.
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Economic impact of a US shutdown

Economic impact of a US shutdown | Economics | Scoop.it
The last time the US government shutdown, it cost the federal government at least $1.5bn - what will the impact be this time around?
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UK growth? Make London independent to mend the north-south divide

UK growth? Make London independent to mend the north-south divide | Economics | Scoop.it
Larry Elliott: The south may be recovering, but the north shows Ed Miliband's aspiration for One Nation Britain is far off from reality
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Britain's economic recovery: three key challenges to long-term growth

Britain's economic recovery: three key challenges to long-term growth | Economics | Scoop.it
Jonathan Portes: The UK economy needs to be less reliant on the financial sector and more oriented towards investment and exports

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Tom Rees's comment, September 16, 2013 4:11 PM
The author starts by commenting that short-term economic prospects in the UK are much more hopeful now than they were a couple of months ago; this includes the fact that the government ‘Help-to-buy’ schemes are succeeding. However the government must be extremely wary of these low-deposit mortgages and especially of their decision to back these mortgages with a government guarantee. If not kept under control this scheme will inevitably lead to a bubble. The scheme is so generous, especially with the additional deposit loan, that it could create a huge demand for new properties. This demand will clearly become too much for a limited increase in supply, and so house prices will start to rise. Keynesian animal spirits will come into play, and before long the bubble will reach its peak. It is not only people looking to buy their first property that this rise in prices will attract; with rent prices at a record high, investors will look to buy up-market properties to receive a healthy income from rent while the value of their property increases. However as these loans are backed by the government, if the bubble pops as drastically as it did in 2008, it will be the government that take the majority of the blow as opposed to the banks.
As to the author’s ideas for a medium term growth strategy, I agree that something must be done about youth unemployment. Youth unemployment is now at 21%; the young are often the most keen to be earning their own money and this clearly shows that those who don’t go on to higher education struggle to find work. However the author states that “We need to improve schools”, and believe this is not an issue. The UK education system is very academically orientated, with few alternatives to higher education specialising in a particular profession. I agree with Tom that the German system is much better, and in fact there is a similar system in many more European countries, e.g. Austria and Switzerland. While for certain jobs it is useful to have the A-level qualifications that higher education provides, to be skilled in a certain profession by the age of 18 would be highly attractive to employers and save them both time and money in training graduates. This contributes to growth on two frontiers: reducing unemployment, and increasing the efficiency of businesses.
Pippa Fernandes's comment, September 16, 2013 6:37 PM
With reference to his point of education, Germany have a system that works very well. Being streamed into 3 groups early on and studying subjects based on your level of intelligence works very well for them. We could do with more vocational programmes in schools. The perception that these institutes are for the less clever needs to be targeted in order for the younger generations to accept it. There i no point training everybody to become doctors, we will always need plumbers as well. There needs to be s balance between skilled and unskilled workers coming out of the education system otherwise it is very inefficient and there could be lots of unemployment.
Andrew Watson's comment, September 18, 2013 7:30 AM
I agree with Tom Daniel's point about the benefit of the German "streamed" School System allowing for more practical work after school such as apprenticeships, but any attempt to replicate such a system here in the UK would cause an uproar due to lack of "social mobility" as outlined by Prof. Susan Hallam. She said streaming could lower parents', teachers' and children's own expectations, which could then become "self-fulfilling prophesies". Although the upper-half of the stream would benefit dramatically from their enhanced learning, the lower-portion would suffer and spiral into unemployment and cause a strain on the welfare and benefits scheme currently in place in this country. Admittedly, if an equilibrium could be struck, the streaming system would produce a balance of a skilled and a lesser qualified workforce.
I also see some sense in Alex's point (if it is a little draconian) that scrapping the welfare state, although being massively unpopular could motivate some people to go out and find jobs. The privatization of the NHS or the individual sale of its hospitals would not only provide a lump sum which could help reduce the budget deficit, helping with long-term sustainable growth, but also potentially more jobs in a more competitive market. I admit there would be drawbacks with popularity and civil discontent but along with the reduction of unemployment benefits I believe this country could see long-term change for the better.
The main problem with the author's third point is that no matter how effective and seemingly brilliant the long-term plan is, it will not survive countless changes in government as people care for immediate results, not struggling through a grueling life for next generation to live easily. Different governments have different ideas and come under different opposition and unseen crises so it is unreasonable to think that any one plan could last long enough to see its efforts come to fruition. Although, as in Malayandi's comment, I do not believe we should become an autocratic state, it is the only way a long term plan could possibly work.
(Sorry this is late, I've been bed-ridden for the past three days)
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Bank 'must limit house price booms'

Bank 'must limit house price booms' | Economics | Scoop.it
The Bank of England should use its powers to limit house price increases to 5% a year to "take the froth out" of price booms, a surveyors' group says.
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UK unemployment rate drops to 7.7%

UK unemployment rate drops to 7.7% | Economics | Scoop.it
The rate of unemployment, which is closely watched by the Bank of England, drops to 7.7% between May and July.
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EdExcel Micro Economics Unit 1

20 Elasticity |ElasticityExplain the concept of elasticity. Elasticity is measure of the extent to which one variableresponds to a change in a second variable.
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UK economy: a miraculous recovery – or a blip in a longer-term decline? - The Guardian

UK economy: a miraculous recovery – or a blip in a longer-term decline? - The Guardian | Economics | Scoop.it
The Guardian
UK economy: a miraculous recovery – or a blip in a longer-term decline?
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The Autumn Statement: possibly good politics – but bad economics | News, knowledge and insight

The Autumn Statement: possibly good politics – but bad economics | News, knowledge and insight | Economics | Scoop.it

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Geoff Riley's curator insight, December 6, 2013 7:34 AM

Superb for ambitious Econ2 students

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Energy bills: Where does my money go?

Energy bills: Where does my money go? | Economics | Scoop.it

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Geoff Riley's curator insight, October 26, 2013 5:51 AM

Important background on the oligopolistic energy market - much in the news in Britain at the moment

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Six conclusions of UK’s economic growth - FT.com

Six conclusions of UK’s economic growth - FT.com | Economics | Scoop.it
Britain’s economic recovery gathered pace over the summer to post an expansion of 0.8 per cent in the third quarter. George Osborne welcomed the data as proof “Britain’s hard work is paying off and the country is on the path to prosperity”.

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What does China own in Britain?

What does China own in Britain? | Economics | Scoop.it
China has a lot of money to invest, but how much of it comes into Britain and what is it spent on?

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Sue Hall's curator insight, February 11, 2014 10:28 AM

A2 group please read

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Africa is not rising, survey shows

Africa is not rising, survey shows | Economics | Scoop.it
Research suggests that the boom benefits only a narrow elite while leaving the poor and unemployed behind
The idea that Africans have never had it so good is rapidly becoming economic orthodoxy.

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Clara Dunphy's curator insight, January 30, 2014 2:42 PM

Roughly one in five Africans told researchers they still often lack food, clean water or medical care, while about half experience at least occasional shortages. Shows govt failure as aid is clearly not been used to full potential

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INDEX

INDEX | Economics | Scoop.it
BBC special reports: - Get the latest background, news, features, reaction, Q & A, analysis and in-depth coverage, including interactive reports and infographics from BBC News correspondents and experts.

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Geoff Riley's curator insight, September 23, 2013 5:47 PM

Highly recommended for new AS macro students - an easy way to keep right in touch with what is going on

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UK inflation rate falls to 2.7%

UK inflation rate falls to 2.7% | Economics | Scoop.it
UK inflation measured by the consumer prices index fell to 2.7% in August, from July's figure of 2.8%.
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Factors of production: Kenya discovers huge water source

Factors of production: Kenya discovers huge water source | Economics | Scoop.it

A huge water source has been discovered in the arid Turkana region of northern Kenya which could supply the country for 70 years, the government says.


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No Chance Of 2020 Olympics Restarting Japan's Economy - Forbes

No Chance Of 2020 Olympics Restarting Japan's Economy - Forbes | Economics | Scoop.it
No Chance Of 2020 Olympics Restarting Japan's Economy
Forbes
So, that's all it took. Twenty years of economic stagnation and all Japan needed to get back on its feet was that the summer Olympics be hosted in its capital.
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UK doubles exports to BRICS since crisis - Telegraph | Developments in the UK Economy

UK doubles exports to BRICS since crisis - Telegraph | Developments in the UK Economy | Economics | Scoop.it
British companies have more than doubled their exports to the fastest growing emerging nations since before the crisis in a bid to cash in on the rapid expansion in the developing world.Geoff Riley's insight: Much discussion recently about some of...

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