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Author Archives: Kevin Judge
Russia facing fresh sanctions, but Putin used to dealing with struggling economy
Yerzhan Tokbolat, Queen’s University Belfast and Moldir Mukan, Queen’s University Belfast The UK and the EU have agreed to hit Russia with a raft of new economic sanctions after hopes of a ceasefire with Ukraine came to nothing. One French minister commented that it is time to “suffocate” the Russian economy. Since the country’s fullscale… Read More »
Happy Birthday to the Laffer Curve!
Arthur Laffer is an American economist best known for his work in supply-side economics, particularly the concept now known as the Laffer Curve. He served as an economic advisor to several U.S. presidents, notably Ronald Reagan, and is often credited as one of the intellectual architects behind the Reagan-era tax cuts in the 1980s. 🔁… Read More »
Is Trump’s Tarrif Dream a Nightmare?
President Trump fancies himself as antiwar, but not when it comes to a trade war. Trump has upended conventional Republican economic policies by using tariffs, a tax on imports, to coerce changes in American’s trade relationships with the world. President Trump has convinced a lot of conservative economists to support is tariff policies in a… Read More »
The Role the Law of Supply and Demand Plays in YOUR Life
Adam Smith’s Law of Supply and Demand, also known as the law of markets, is a fundamental principle in economics that describes the relationship between the supply of a product or service and the demand for that product or service. According to this law, the price of a product or service in a free market… Read More »
Big Data + AI = Economic Growth!
Big data is integral to the advancement and operation of Artificial Intelligence (AI). The interplay between big data and AI is interdependent: AI frameworks need extensive data to gain insights, forecast outcomes, and enhance over time, whereas big data supplies the foundational resources essential for training and evolving AI technologies. The primary functions of big data in AI include: 1. Training AI ModelsA fundamental application of big data within AI lies in the training phase. Machine learning (ML), a branch of AI, depends on substantial datasets to uncover trends and develop predictive models. The broader and more varied the data, the more proficiently the model can adapt and function with novel data. For instance:… Read More »
A Comparative Analysis of Communism, Socialism, and Liberalism
What we refer to as leftwing economics is not monolithic. Communism, socialism, and liberalism are prominent political ideologies that have distinct approaches to economics. By examining their economic systems and views on private ownership, we can better understand the similarities and differences among these ideologies. This essay focuses on comparing and contrasting the economic aspects… Read More »
Grand infrastructure projects aren’t a magic bullet for industrial development – insights from Ghana and Kenya
Seth Schindler, University of Manchester and Tom Gillespie, University of Manchester The African Union’s flagship Agenda 2063 initiative prioritises large-scale infrastructure development and promises to “link the continent by rail, road, sea and air”. This is being undertaken in parallel with efforts to improve economic integration. In 2021, the 54 countries on the continent made… Read More »
The IRS Tiptoes Into Offering Free Online Tax Filing — and Possible Competition With TurboTax
By Paul Kiel The IRS on Tuesday announced that it would develop an experimental online tool to allow Americans to file taxes directly with the agency for free. It’s a major development — one in which ProPublica’s reporting played a significant role — given that most U.S. taxpayers pay to file and the tax preparation… Read More »
US debt default could trigger dollar’s collapse – and severely erode America’s political and economic might
5/10/2023 – Michael Humphries, Touro University Congressional leaders at loggerheads over a debt ceiling impasse sat down with President Joe Biden on May 9, 2023, as the clock ticks down to a potentially catastrophic default if nothing is done by the end of the month. Republicans, who regained control of the House of Representatives in… Read More »