Iceland’s Economy had a banking debt ten times larger than its GDP. Iceland was that one Economy which went left when everybody else went right. Whilst most thought the banks were too big to fail, Iceland thought they were too big to save. It let its largest banks go bankrupt and threw dozens of bankers in jail. And yet despite its unusual approach, its Economy recovered. Going on to enjoy a decade of unbroken economic growth and high standard of living. But why did an island just outside the arctic circle have a financial crisis? What strategies did it deploy to rack up such monumental debts? How did it recover? And does its future rely on impressive tourist growth and crypto currencies?
Category Archives: Economics
Analysis: ‘Why Big Tech Companies Are Leaving California’ (CNBC Video)
As Oracle, Palantir and Hewlett-Packard Enterprise move their headquarters out of California and Elon Musk moves to Texas, California is considering raising taxes on the wealthy to unprecedented levels. Experts say California needs to find more ways to reverse the trend.
Europe: ‘An Economic History Of Spain’ (Video)
The Spanish economy is one of extremes. At one point a focus of the eurozone crisis, at another the largest contributor of growth, and more recently, suffering the greatest economic hit of any Advanced Economy in 2020. Spain’s economic problems are often confused. In the years leading up to the Great Recession it posted consistent budget surpluses. However, a huge real estate bubble was lying in wait. The question… is why? Why did Spain go from a seemingly safe level of debt to one larger than it’s economy? How was the housing bubble encouraged? And since then, has Spain’s economy ever truly recovered? Or in what ways?
Retirement: How Monthly ‘Social Security’ Benefits Are Calculated (Video)
Planning to save for retirement might not be a priority. Luckily, you’ll have some help from Social Security. Different salaries can drastically raise or lower your Social Security benefits. Here’s how much you can expect, based on six different salaries. The average Social Security check in 2020 is $1,503. Figuring out how much you can expect every month when you retire depends on a few criteria. The size of your payment will be based on income from your working years, the year you were born and the age when you decide to start receiving benefits. Luckily, CNBC did the math for a wide range of salaries, and we can estimate your future benefits if you make between $30,000 and $100,000 per year. Remember: Social Security was not envisioned as your sole source of money for retirement, and the totals are always changing. Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated based on multiple different salaries.
Asia: An Economic History Of Thailand (Video)
The Thai economy is the second largest in southeast asia. Being right in the centre of one of the most vibrant economic clusters on the planet. Famous for its sun, sea and sand, Thailand is so much than just a tourist hot spot. Thailand’s Economy went on an incredible growth run during the second half of the 20th century. However, economic growth has slowed since the 2000’s, leading some to suggest Thailand’s economy is stuck in a middle income trap. What are the factors behind this in Thailand’s case? How did rice pledging impact the economy? And why Thailand pinning its’ economic hopes on the Eastern Economic Corridor?
Anaylysis: Is Obesity Driven By Food Industry Profits & Low Prices? (Video)
Marion Nestle, Goddard Professor in the Department of Nutrition at New York University, discusses the U.S. food industry being in a highly competitive environment where profits are paramount and public health is not a priority.
Economics: ‘How Biden Will Handle $1.6 Trillion Student Loan Debt’ (Video)
More than 43 million Americans owe a collective $1.6 trillion in federal student loans. WSJ’s Josh Mitchell explains how President-elect Joe Biden plans to help borrowers tackle that debt. Photo illustration: Carlos Waters
Business: ‘The Costs Of Climate Change’ (Video)
Climate change is about to upend the corporate world through weather-related disasters, regulation and lawsuits. Can businesses react and adapt in time? Read more here: https://econ.st/3slTXIE
Anaylysis: China Tests New ‘Digital Currency’ That Replaces Cash (WSJ Video)
China is testing a digital yuan, aiming to accelerate the replacement of cash and increase state control in a society where digital payments via Wechat Pay and Alipay are already the norm. Here’s what Beijing’s new system looks like—and how it would work. Photo credit: Florence Lo/Reuters
Europe: ‘An Economic History Of Poland’ (Video)
The Polish economy was the fastest growing European economy over the last two decades, being the only one to avoid a recession following 2008. Outperforming other post communist nations, to become the first to reach developed status. However it’s fair to say that Poland often receives less attention than it deserves. Despite regularly being touted as Europe’s growth engine. This raises all sorts of questions, like how has Poland’s Economy done so well? Why do under 26 year olds pay less income tax and whether, as some have suggested, it can catch up with Germany’s average income by 2040. Is Poland a Tiger Economy?
Poland, officially the Republic of Poland, is a country located in Central Europe. It is divided into 16 administrative provinces, covering an area of 312,696 square kilometres, and has a largely temperate seasonal climate.
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