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A collection of 17 posts

The folly of growth via consumption

The folly of growth via consumption

Growth through saving or consumption: Part 3 History has shown that the balance of world power shifts in cycles. The US economy quickly rose through investment in agriculture, industry and utilities. Yet as its wealth multiplied, such investment became increasingly subordinate to other endeavours. The US has consistently led the

Is Tiktok spying on you?

Is Tiktok spying on you?

Tiktok, a viral video-sharing app wildly popular with teens, has recently been under intense political scrutiny by the Trump administration over national security concerns.[1] In particular, the app has raised questions as to how it stores personal data and whether it censors politically sensitive content.[2] Although the surveillance

Venezuela: an economic tragedy

Venezuela: an economic tragedy

Imagine you need immediate medical attention. You arrive at the emergency department and there is a three hour wait to see a doctor. When you finally get to see someone, the doctor says you need penicillin, but they don’t have any. The hospital doesn’t even have running water.

Democracy: a drag on economic development?

Democracy: a drag on economic development?

On March 23rd, 2015 the world witnessed the passing of an unusual man: Singapore’s first Prime Minister, Lee Kuan Yew. The flood of condolences messages from Western democracies that followed Singapore might seem strange given that Mr Lee was not a huge fan of democracy. His government has been

Balancing Australia’s strategic interests in the Asia-Pacific

Balancing Australia’s strategic interests in the Asia-Pacific

Australia has attracted criticism for failing to align its economic and strategic military interests in the Asia-Pacific region. In the past Australia’s merchandise trade with the US weighed more heavily than its trade with China. This legitimised Australia’s ‘best friend’ military status with the US. However, China’s

U.S mobility: moving in the right direction?

A popular narrative in the U.S is that the middle class is shrinking and that socio-economic mobility is disappearing. Such a narrative was manifested by the Occupy Movement of late 2011 and has even been espoused by politicians from both sides of politics in the U.S. The notion

Fear of deflation re-ignites in the Eurozone

Fear of deflation re-ignites in the Eurozone

The ominous threat of deflation has haunted the Eurozone ever since the global financial crisis in 2008. Recently, fear of an uncontrollable deflationary spiral has re-emerged as prices in many of the largest European economies continue to decline. In February consumer prices in Ireland had fallen by .1% for the

The economic irrationality of new conservatives

The economic irrationality of new conservatives

The current wave of new conservatives, that have become the prominent voice of the right-wing in America, carry with them a great ideological passion. These conservatives have been vocal supporters of many policies that are often congruent with the neo-liberal viewpoint. Such policies include a laissez-faire economic approach and small

Capitalism in Crisis: Income Inequality in the US

Capitalism in Crisis: Income Inequality in the US

It is now 5 years into the US recovery after the severe recession of 2008-9, unemployment has fallen to 6.7% and quarterly GDP growth remains between 1-2%. At first glance the recovery finally appears to be picking up momentum, with stronger then expected growth in the last half of

Unemployment in America: the forgotten economic crisis

Unemployment in America: the forgotten economic crisis

This article was featured as part of Equilibrium 2013, our annual print publication. President Barack Obama assumed office in 2009 during a crisis of epic proportions, particularly demonstrated by the skyrocketing unemployment rate in the wake of the Global Financial Crisis.However, nowadays it seems that the second-term President’s

The challenges of an orderly exit from quantitative easing

With the US debt ceiling talks and the new Chairman of the Federal Reserve (Fed) Janet Yellen dominating the business and economics headlines, the economic woes of the US are back in the spotlight. It reminds us of the sluggish and vulnerable economic recovery that the US is currently facing

Out of their league

Out of their league

One of the things that struck me most while on exchange at the University of North Carolina (UNC) is that it really is like being in a movie. While there are no meticulous canteen table partitions according to social status, on the playing field, which is where college spirit bursts

The US government shutdown - any end in sight?

The US government shutdown - any end in sight?

What a joke. Really, there isn’t anything else that can be said about the latest fiscal crisis in the United States. With the federal government shutting down most operations on the 1st of October, as the House of Representatives (controlled by the Republicans) and the Senate (controlled by the

An overview of the 2013 Australian federal election campaign

An overview of the 2013 Australian federal election campaign

This article forms part of an ongoing series looking at economic issues as Australia heads into the Federal Election. More coverage can be found on the Election 2013 page of ESSA’s website. The primary objective of a major party leader during an election campaign is to gain any advantage

Should you be studying?

Should you be studying?

From discussing the possibilities of making tertiary education more accessible, I now segue to the other side of the debate: Are there too many people getting university degrees, and are they worth it? The issue is exacerbated in the US, where the stakes are so much higher. A college education

America Votes - The Land of Great Contrasts

America Votes - The Land of Great Contrasts

As Chris continues his travels across the United States, he reflects on his cross-country journey observing how the world’s leading economy is such a contrasting display of economic highs and lows. If I’ve learnt anything during my two-week visit to the United States it’s that this a

A Fifty Year Old Fallacy

February marked the anniversary of the fifty years of the Cuban embargo enforced by the US. The promulgation of the Cuban Democracy Act in 1961 reflected the policy of containment that was to prevent the extension of the relationship between Cuba and the Soviet Union after the embarrassing Bay of