world - Economics Students Society of Australia

world

A collection of 10 posts

The new Silk Road: Cementing Beijing's global influence

The new Silk Road: Cementing Beijing's global influence

The word silk was derived from the ancient Greek word serikos, pertaining to the East Asian people from whom the Greeks received silks. Proposed in 2013, China’s Belt and Road Initiative (BRI) is a historically large infrastructure plan between 65 states, seeking to develop international overland and maritime trade

A Quick Dive into Ageing Populations – Part 1: The Ramifications

A Quick Dive into Ageing Populations – Part 1: The Ramifications

Described as a “human success story” by the United Nations, the global phenomenon that is population ageing is both a blessing and a curse. Driven by an increase in life expectancy and a decrease in fertility rates, population ageing encapsulates the triumph of humanity in the arenas of economic development,

The Bid Idea: What the World Could Learn from Auction Theory

The Bid Idea: What the World Could Learn from Auction Theory

On October 12th, 2020, Stanford University professors Paul Milgrom and Robert Wilson won the Nobel Prize in Economic Sciences for their contributions to auction theory, a branch of economics that explores how auctions shape prices, how auction participants behave, and how auction design can achieve optimal or efficient outcomes. Often

In fiscal jeopardy? An appraisal of the Japanese sovereign debt crisis

In fiscal jeopardy? An appraisal of the Japanese sovereign debt crisis

Nations around the world have undergone radically distinct societal and structural changes in recent times. Whilst a fortunate few may have bypassed the worst of circumstances, the cloud of uncertainty continues to linger above the figurative head of our global citizens and has rendered many governments averse to making careless

The money tree: How the Americans and Brits responded to COVID

The money tree: How the Americans and Brits responded to COVID

IT’S no secret that the onset of COVID-19 has managed to seep into almost every facet of our lives. How many of us could honestly say that we even knew who an epidemiologist was before this insidious virus hit our shores? Words such as ‘social distancing’ and ‘COVID safe’

How aged care wages paint a powerful narrative of glaring inequality

economic policy

How aged care wages paint a powerful narrative of glaring inequality

Right now, the aged care sector is the epicentre of the fight against COVID-19 in Victoria. There are currently 7,877 actives cases in Victoria, with 1,144 of those in Victorian aged care settings where 184 deaths having tragically taken place. [1] Deaths in aged care make up 64%

Economics of media

Economics of media

The media’s selective coverage of stories everyday indirectly allows them to shape the future; by monopolising what is presented news’ firms weave a hierarchy of importance into events. Through the public’s uninhibited consumption of their reported material, the audience subconsciously adopts a perspective in closer agreement to theirs.

The bitcoin conundrum: cracking the code on decentralised digital currency

The bitcoin conundrum: cracking the code on decentralised digital currency

Let us face the facts. It’s undeniable that 2020 has been one of the most astonishing and cataclysmic years to date. Although our global economic outlook is seeing some light at the end of the tunnel, much of the future is frankly still up in the air. Markets, in

Global health in a globalised world

Global health in a globalised world

Our current fractured world has seen the tide of globalisation wash over it, with ills and pains it left in its wake. The gains from a globalisation have been unparalleled, with millions being lifted out of extreme poverty in the past few decades of accelerated growth.[1] However, the vast

The economics of quinoa: superfoods' dark side

The economics of quinoa: superfoods' dark side

Being “healthy” has taken on a whole new meaning in the twenty-first century. Simply eating fresh foods and reducing our intake of so-called “junk” foods no longer suffices in the bid for ultimate health. The rise of superfoods has accelerated quicker than we ever could have imagined over the past