It’s spring 2015 in the USA, which means, naturally, candidates for an election almost 18 months away have begun jockeying for position. Americans go to the polls in November 2016 to elect the next President. Before then, however, both major parties hold primary elections, where pundits get to salivate
Last semester, I was introduced to Engel’s Law. In my quantitative methods subject, some students asked about deriving the relationship from income earned and food expenditure for a sample of households. While once regarded as a useful and interesting economic theory, it is now also a cause for worry.
Last year on December 26th, Shinzo Abe assumed office as Japan’s current Prime Minister and immediately began fulfilling his electoral campaign promises of bringing sweeping economic reform and output growth to the world’s third largest economy. After suffering decades of lacklustre output and many failed attempts to induce