UK economy shrinks by 0.2 per cent

The second quarter British economy shrank for the first time in seven years as stockpiling slowed and Brexit vagueness intensified and underperformed the Eurozone, the US and Japan where outputs continued to expand at rates varying from 0.2 per cent to 0.5 per cent. Output fell 0.2 per cent and down from a 0.5 per…

India plans to cut budget to spur growth

India is cutting its fiscal deficit to boost social welfare spending in a bid to spur growth and reclaim its title from China as the world’s fastest-growing big economy. Indian Finance minister Nirmala Sitharaman said yesterday, that the government would lower its fiscal deficit target to 3.3 per cent of gross domestic product for next…

Clarification of austerity

This book gives us an incisive look at austerity measure that succeed and those that don’t by using pragmatic evidence to assess the effects of fiscal austerity through spending cuts versus tax increases and concludes the negative effect on output of spending cuts are far smaller than tax increases, by assessing costs only in terms…

Help to. Buy significant market risk

Help to Buy was introduced by David Cameron’s coalition government in 2013, with the aim of helping more people to get on the property ladder, instead  63 per cent of people using the Government’s Help to Buy scheme could have purchased their properties without it, and 19  per cent were not first time buyers. According…

AI – China at the forefront of a major economic transformation

For the first times since the industrial revolution, China will be at the forefront of a major economic transformation – the advent of revolution in Artificial Intelligence according to Kai-FU Lee , former president of Google China and now a leading venture capitalist in Chinese technology. China’s “Sputnik movement”, when Google DeepMind’s AlphaGo defeated Ke…

Politics of 1.4bn people in democratic India

Ruchir Sharma talks to farmers, shopkeepers and CEOs from Rajasthan to Tamil Nadu and interview both Narendra Modi and Rahul Gandhi offering intimate view inside the lives and minds of India’s people. Sharma also explains how the complex forces of family, caste and community, economics and development, money and corruption Bollywood and Godmen, have conspired…

Capitalism is the best economic system

Torben Iversen, a Danish political science and professor and David Soskice, British economist and professor at the London School of Economics addresses does capitalism conflict with democracy with a resounding “no”, Not only capitalism work, it is also the only economic system that works and insists that democracy and the advanced market economy are symbiotic.…

Socio-economic consequences of globalisation

Economist Raghuram Rajan’s The Third Pillar, describes an ongoing struggle for balance between the three building blocks of a good society Market, State and Community. Rajan tells us what’s needed to shift our prospects in favour of technological progress that empowers and enriches the many, away from political anger and estrangement. Rajan was awarded the Director’s…

Spectre of Brexit poses threat to British economy in the years to come

In Nine Crises, William Keegan examines a series of turning points , starting with the devaluation crisis of 1967 and ending   with post Brexit turmoil fifty years later. This book explains how key participants viewed each crisis as it unfolded and what they hoped to achieve.   The British economic policy and its policymakers have…