Well, this is awkward. For the last few months, the hottest thing in economics has been the “elephant chart”. Produced by economists Christoph Lakner and Branko Milanovic, it showed how global income has changed over the past 20 years. The chart shows the poorest people in the world on the left and the richest on […]
“Russia is Putin. Russia exists only if there is Putin. There is no Russia without Putin.” These are the words of the Kremlin’s current policy-wizard-in-chief, Vyacheslav Volodin. Many people in Russia happily believe this kind of clap-trap, and even the many who don’t are quite content to live with it. How did it get to […]
Given the dramatic events in the Arab world recently, it is no surprise that many people are looking for the next domino to fall. And one obvious candidate is Morocco. The country is, to all intents and purposes, an economic and demographic time bomb. It is a young nation: 43 per cent of its population […]
It can be hard to remember that even in wealthy countries, food has not always been abundant, and in many parts of the world hunger remains a problem. Fortunately, we are making great headway towards solving it. Here are five charts summarizing the incredible progress that humanity has made against hunger. 1. According to data […]
When people think of the sharing economy, they probably think of Uber and AirBnB. These companies have quickly become household names, setting new standards of consumer satisfaction by reducing transaction costs and allowing service providers to connect directly with customers. Tourists are now able to find all sorts of affordable accommodation, whilst home owners make […]
Zimbabwe is back in the news. Or, it was. For about two days. European and Western media have dutifully reported on the series of painful economic crises the country has suffered since independence with the occasional “so-bad-it’s-funny” article on the birthday celebrations of the country’s long-time President Robert Mugabe. But the full tragedy is that […]
It’s been exactly one year since Obama announced that he would try and restore ties between Cuba and the US. Five months later, the leaders of the two countries shook hands – something which had not occurred since 1961. The two countries have faced problems in their relationship for many years. The hostility has its roots in […]
The Transatlantic Trade deal, which would remove custom duties and harmonise international regulations and standards between the US and EU, has suffered a setback, after US senators have voted against giving President Barack Obama the authority to negotiate the deal on their behalf. In order to fasttrack the deal, Obama had hoped to pass a […]
The priorities of the Chinese Communist Party (CCP) have shifted. Previous administrations maintained a singular focus on economic growth in order to secure social stability. But the current government, headed by President Xi Jinping and Prime Minister Li Keqiang, perceives the ‘quality’ and ‘equity’ of growth as the fundamental challenges facing China. This shift is crucial to […]
Oil prices, today at $78 a barrel, have fallen from a high of over $115 earlier this year, creating difficulties for a number of producer countries. OPEC will meet tomorrow in Vienna to agree production quotas for its members. Here are 4 things you need to know about tomorrow’s OPEC meeting. 1. Oil producers are struggling to […]
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