Tags » Economic Change

Evidence of Economic Change: Tin Roofs

Economics is essentially a scientific analysis of the individual choices made by large numbers of people. Each statistic represents hundreds of thousands of personal stories: families struggling to make ends meet, parents deciding where to send their children to school, farmers deciding whether to plant crops or sell their land, car owners deciding to wait another year to replace their vehicles, business owners deciding to take out loans to expand their companies, homeowners choosing to renovate their houses. 320 more words

Inflation and Penny Dropping

In 1984, shopping in the local markets of Goma, Democratic Republic of Congo, I noticed small coins lying abandoned in the dust. When I asked about them, someone told me they were 1-likuta coins (pl:makuta). 398 more words

Evidence of Economic Change

Economists are continually struggling to come up with legitimate scientific measurements of economic change. An example is the Consumer Price Index (CPI), a monthly measurement of the change in price of various “baskets” of consumer goods. 273 more words

The deficit crisis

This is the difference between the present value of the government’s commitments to cover its outgoings (such as state pensions and running the NHS) and the present value of its tax revenues. 1,443 more words


Understanding Money Creation as Debt

By Jon Crooks

Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. 2,316 more words