Facing Constraints: Risks of Rising Debt Levels
Written by Max Bardong Edited by Bhing Turongpun Government debt can be something extremely useful. Most notably, debt helps finance government spending that goes beyond tax revenues, i.e., spending that would otherwise require higher taxes. The most well-known application of this goes back to John Maynard Keynes: in economic crises with high unemployment, Keynes advocated for increased government spending to make up for low aggregate demand and stimulate private consumption
The world China’s energy revolution has made
Written by Albie Gavshon Edited by Sami Firdose A graph of global GDP over the last two thousand years can tell us a lot about global politics over the last twenty. [1] China’s return to commanding a hefty share of global production has, in part, corrected the historical anomaly that was Western dominance in the world economy. Figure 1: Global GDP shares through history in terms of purchasing power parity. Deutsche Bank. The ‘great divergence’ between Euro-American and Asi
Gen Z Protests and Policy Failure: Lessons from Kenya’s Finance Bill 2024
Written by Shamim Ibrahim Edited by Evan Burgess ‘I concede.’ With these defeated words, Kenya’s President William Ruto yielded to public dissent and withdrew a contentious finance bill after a month of intense, youth-driven protests against it. Aimed at reducing the nation’s soaring debt through higher taxes, the Finance Bill 2024 became a flashpoint, igniting widespread activism domestically and among Kenyans in France, the United States, and the United Kingdom. Despite the
