The economy is a snapshot of people’s activities — i.e. the allocation of resources including money and time. When the economic story becomes too noisy to interpret, and too much bad air conquers the circulating narrative, it can lead people to expect the worst. What people expect can soon end up happening, and right now…
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Economic pressures bring political instability – and economic pressures abound today. Global supply chains are still suffering from frictions related to the pandemic-re-opening, there is war in two of the world’s key food exporters, and sanctions on one of the world’s biggest crude oil exporters. Life could not be any worse for emerging economies that…
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2022 is the year many had projected that the world economy will fully recover from the pandemic. Not until Omicron struck, dampening the upbeat recovery mood. With the worst of the pandemic behind us and the risk of multiple waves and mutants ahead, economic expectations are being dimmed, the most recent being the International monetary…
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The year of the metal rat (i.e. 2020) is clearly not the year for the Nigerian consumer. A cross-current of declining incomes and rising prices implies that there is no robust consumer out there. Lending credence to this fact is the pessimistic response of the Q2’20 Consumer Expectations Survey (CES) which was attributed largely to…
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The use of Gross Domestic Product (GDP) as a measure of economic progress has been under fire by welfare economists in recent years as they postulate that GDP figures do not capture the adverse environmental effects of economic processes. Economic progress can be linked to the people’s prosperity and happiness and citizens of countries that…
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The Phillips curve indicates the trade-off between employment and price stability. Price stability is the primary objective of central banks but this cannot be achieved without pursuing associated objectives such as sustainable economic growth, full employment, stable long-term interest rates and stable real exchange rates. The tool is based on the ideology that, ceteris paribus, an…
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