In this column, my aim is to help you understand the macroeconomic perspective of the UK economy and also the emerging economies in the world today. I will look at how recession affects the development of the economy, as well as the steps governments can take in response. I will also discuss the importance of investing in physical and human capital for positive economic growth, which is prioritised by most countries.
As Paul Turner states in his ‘Review of the UK economy in 2012’ article, the UK economy is in a double-dip recession and the predictions for 2013 are less certain than ever. However, the stability of inflation rates compared to previous years of crisis certainly shows the effectiveness of the Bank of England’s policies. I would like to discuss further how these policies decrease the volatility of prices.
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