International Trade and Economic Growth

Does international trade increase economic growth? In this context, what are the trade policies that have been followed by developing countries? Standard textbook economic theory tells us that international trade benefits both parties in the trade, based on the gains from comparative advantage as laid out by David Ricardo. However, recent research into New Trade Read more about International Trade and Economic Growth[…]

What is economic development?

‘What is economic development and how would you measure it? Does an increase in per capita national income always constitute an increase in the standard of living?’ Economic development is hard to define, but is an improvement in the living conditions of the population as a whole. Whilst closely linked with economic growth – high Read more about What is economic development?[…]

Europe 2020

Within the overall Europe 2020 strategy, there will be difficult tensions to resolve between social and economic aims, as well as between qualitative progress and quantitative targets. The impact of Europe 2020 on employment and the labour market will be pivotal, because it is the policy domain that straddles the boundary between the EU as Read more about Europe 2020[…]

The Lewis Model

Describe carefully the Lewis dualistic labour surplus model. Does the Lewis model describe accurately the process of economic development in poor countries? The Model The Lewis model proposes a dualistic economy consisting of a formal, industrial and urban sector, and an informal, agricultural and rural sector. The formal sector is characterised as capital intensive and Read more about The Lewis Model[…]

Why have unions declined over the last 30 years?

Account for the collapse of private sector trade unions in industrialised economies since the 1980s. Why has the experience of public sectors been different? In the 1980s 54.5% of employees were trade union members but by 2000 this number was below 30%. This decline in unions can be seen through a variety of measures; in Read more about Why have unions declined over the last 30 years?[…]

Minimum Wages

Why have statutory minimum wages become more prominent in recent decades? Why have they generally had little adverse effect on employment? Prior to the introduction of the national minimum wage (NMW) in 1999 there had been no statutory wage floors since the abolishment of the Wages Councils in 1993 by the Conservative government. Growing wage Read more about Minimum Wages[…]

New Labour v.s. Old Labour

New Labour was forced by political circumstances to adopt neo-liberalism and the Conservative European, Foreign and Defence policies, and so abandoned traditional Labour party ideology. Discuss. New Labour began government with a promise not to increase spending above Conservative plans for the first two years of their government along with no increases in basic or Read more about New Labour v.s. Old Labour[…]

Thatcher and Conservatism

Margaret Thatcher broke the post-war consensus in British politics and in so doing changed Conservatism in a fundamental way. Discuss. It is generally agreed that the post-war consensus consisted of 3 broad pillars – the welfare state, a mixed economy and Keynesian demand-management to ensure full-employment. Let us firstly turn to Keynesian demand management; the Read more about Thatcher and Conservatism[…]

Politics in Post-War Britain

Winston Churchill and Clement Attlee established a coherent political order in post-war British politics. Discuss. The 3 main pillars of the post-war order were; a welfare state, a mixed economy and maintaining full employment. These three policies were introduced by Attlee’s Labour government between 1945 and 1950. They came about through a change in ideology Read more about Politics in Post-War Britain[…]