The GDP trap: why Starmer cannot change what he will not question.
Written by Billy Gilbey Edited by Bhing Turongpun The core of Starmer’s government can be found in the Labour Party’s 2024 manifesto. The front-cover contains only a picture of Starmer and the word “change”. More precisely, change for Starmer is the recovery of “two fundamental beliefs"[1] - “first, that politics should be driven by a sense of service"[2], and secondly that Britain must “respect your contribution and give you a fair chance."[3] Workers’ ‘fair chance’, the man
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
