Macroeconomics: UK economy, IB Economics
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Macroeconomics: UK economy, IB Economics
A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by Graham Watson
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Impact of pandemic on wellbeing of the young and the economy must not be trivialised | Larry Elliott | The Guardian

Impact of pandemic on wellbeing of the young and the economy must not be trivialised | Larry Elliott | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
Mental health of young people is deteriorating, and shows up in employment data. More action is needed
Graham Watson's insight:

This Larry Elliott article highlights the external costs of the pandemic, arguing that these weren't factored in to assessments of the costs of the 2020 coronavirus pandemic.

 

He focuses in particular on the effects of the pandemic on the young, linking it to a rise in mental health problems and having an adverse effect on labour supply, with adverse macroeconomic consequences.

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HS2: Six reasons why the rail route is so expensive

HS2: Six reasons why the rail route is so expensive | Macroeconomics: UK economy, IB Economics | Scoop.it
The controversial high-speed rail project could potentially cost as much as £106bn.
Graham Watson's insight:

Yet more on HS2 - why is it so expensive? The BBC looks at the costs associated with the rail line. However, there's little mention of any external costs, or any reductions in existing external costs in this article. 

 

Expect to be drip-fed the benefits tomorrow...

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Unemployment due to Covid-19 is surely worth more than a footnote | Larry Elliott | Business | The Guardian

Unemployment due to Covid-19 is surely worth more than a footnote | Larry Elliott | Business | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
The mental and physical stresses caused by fear of layoff have left many workers feeling suicidal
Graham Watson's insight:

This really interesting Larry Elliott article highlights the costs of unemployment - bringing a nice bit of rigour to discussions of those costs borne by individuals, the government and society as a whole. Indeed, you might think about the external costs of unemployment as an important part of the reason why the issue is so pressing, not least at a time when developed economies have seen such a swift rise in unemployment figures as a result of the coronavirus pandemic. 

Stephanie Rivera's curator insight, October 6, 2020 9:41 PM
Personally speaking from experience being fired during the pandemic and not being able to put food on the table due to the long process of unemployment was so stressful at times I was depressed.  I was able to get a job by networking but I never received my unemployment and I am fighting to received my back pay.  Now imagine those in worst position than me.