1.2 billion people around the world, or roughly one in every six people, live in extreme poverty – defined as survival on less than $USD1.25 a day according to The World Bank. As a proportion of the global population, however, this number has fallen dramatically over the past few decades. The economic uprising of several key East Asian nations has resulted in over 700 million people, over the past twenty years, breaking free from extreme poverty. Organisations such as the UN have project further decreases in the years to come. Indeed, there are many political, economical, and environmental factors that contribute to the extreme impoverishment of individuals around the world and many argue that this is a deeply complex issue that we cannot afford to merely throw money at – or can we?
Elijah reflects on three and a half years of economics, and what it has meant to him.
Elijah discusses how the Zollverein – a customs union and free trade area – played a pivotal role in the economic and political evolution of German-speaking states in the 19th century, eventually leading to the creation of the German Empire.
Elijah takes us to Hamburg and reflects on the city’s heritage as a flourishing centre of the Hanseatic League.
Marco Madzzar reflects on a new book by economist Richard Koo and its promise of resolving the economic malaise troubling the developed world.
An economic analysis into why we procrastinate and what we should do about it.