Trade Surpluses and Deficits Any country’s trade balance is the difference between the totals of its exports and imports respectively, as measured in its own currency. To the extent that its exports exceed its imports, [more…]
While speculation is rife about what the post-Covid economy will look like, we must remember that economic fundamentals are not susceptible to alteration. They may adapt to changed circumstances, but no external modifications in society [more…]
The huge economic harm caused by Covid-19 is seen and experienced clearly and directly on a daily basis. Less obvious is the damage wrought in every welfare-driven democracy whose government finds itself in the dual-role [more…]
Several comments and questions on my last essay deserve a thoughtful response, which is the theme of today’s essay. You may recall its references to today’s dependency culture – the “expectation syndrome” that fuels the [more…]
Economically speaking, we are in a pickle. The blame-game is in full flow in its search for scapegoats. The most obvious culprit is, of course, the Covid virus, but it would be a huge mistake [more…]
Things don’t just “happen”. Everything in the passing parade of phenomena is the result of something that preceded it: this is the world of cause and effect. Those appointed to hold the levers of power [more…]
More than six months have elapsed since the devastating lockdown measures were first imposed on the nation, since when we have been shrouded in a fog of confusion and ineptitude. The authorities may have been [more…]
The tenacity with which certain economic fallacies persist is truly remarkable. Take the notion that the euro currency is too strong for certain countries, notably Greece, Spain, Portugal and Italy, causing their exports to be [more…]
Every primer on economics cites the familiar factors of production, land, labour and capital, as prerequisites for productive activity. Sometimes entrepreneurship is added to represent the gifted brain who brings the other three together in [more…]
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