Articles about Economy

Ohm-em-gee: US nuke plant project goes dark after money meltdown

Energy companies in the US have cancelled plans to build a pair of nuclear power plants – after Toshiba's Westinghouse Electric Company collapsed. SCE&G and Santee Cooper in South Carolina said they will walk away from erecting two new reactors at the VC Summer Nuclear Station near the town of Jenkinsville. Announced in 2008 …
Shaun Nichols, 1 Aug 2017
Man counts pounds and pence. Photo by Shutterstock

Post-Brexit spending freeze in UK is real, says enterprise distie titan

Arrow Electronics Inc’s Enterprise tech division in Britain was struck by delayed spending among customers following the outcome of the EU Referendum, the distributor’s chief bean-counter claimed last night. CFO Chris Stansbury estimated “late purchases and weakening of accounts” after the 24 June vote “negatively impacted our …
Paul Kunert, 3 Aug 2016
The One Laptop Per Child project: kids at the Kagugu Primary School, Kigali, Rwanda, get to grips with new computers

World Bank: What do the poor need – clean water, or email ... take a guess

Efforts to expand IT and internet connectivity in developing countries are producing results that are "far less than expected," according to the World Bank. The 2016 Digital Dividends report [PDF] said that when it comes to quality of life and economic development, campaigns to bring poorer nations online have failed to meet …
Shaun Nichols, 14 Jan 2016
Trainspotting

Why is that idiot Osbo continuing with austerity when we know it doesn't work?

Worstall @ the Weekend That austerity doesn't make the economy grow, is one of those things we all know to be true. And yet we've also got a government insisting that a recession, when there's spare capacity and we'd really rather like the economy to grow, is a great time to be cutting government spending and thus instituting that austerity. This …
Tim Worstall, 14 Jun 2015

NEVER MIND the B*LLOCKS Osbo peddles, deficits don't really matter

Worstall @ the Weekend What with another budget just coming up, to correct the one that chancellor of the exchequer George Osborne kidded everyone with before the election, it might be time to answer the question of whether deficits really matter? For Osborne is most certainly going to continue shouting that they do and, equally certainly, everyone …
Tim Worstall, 24 May 2015

As-a-service upstarts will KILL OFF THE CORPORATES?

Worstall on Wednesday Amazingly, economists have figured out a few things...even things that can help in this brave new digital world. One of these is the "marketplaces vs firm" debate. So I was surprised to find a fascinating little piece in TechCrunch singing the praises of all those "online freelance work marketplace" sites. You know the sort of …
Tim Worstall, 26 Nov 2014

Piketty-Poketty-Poo: Some people are JUST ITCHING to up tax to capital ...

Worstall @ the Weekend I'll cop to being a bear of little brain, for it can take me a long time to spot what should be obvious. And so it is with my taking so long to work out what's really going on with Capital in the Twenty-First Century author Thomas Piketty and all that wealth inequality stuff. I believe his book is essentially a political …
Tim Worstall, 2 Nov 2014
Picard Facepalm

Deloitte's dumb rules stop us from telling you about everyone else's dumb rules

Deloitte Access Economics in Australia is pitching the idea – quite possibly correct – that corporate bureaucracy is more costly than government regulation. It's an attractive enough idea, especially in a country where the government has trumpeted as “red tape reduction” the repeal of legislation covering the phase-out of the …

Pay a tax on every gigabyte you download? Haha, that's too funny. But not to Hungarians

Hungary is threatening to tax its broadband providers for every gigabyte their subscribers use. The Fidesz-run European nation said that it would charge ISPs 150 forints (around 60 US cents or 39p in the UK) for each gig transferred. Hungary shifted 1,150PB in 2013, and 18PB in mobile data, according to figures from …
Shaun Nichols, 22 Oct 2014
Gordo: EPIC FAIL

No, Big Data firm, the UK isn't teeming with UBER-FRISKY GIGOLOS

Worstall @ the Weekend You may or may not have seen that the government has decided that GDP, the measurement of the size of the economy, should now include the activity surrounding drugs and prostitution. We can now assuage our guilt at that quick shag and a toke on the way home with the thought that we are, in fact, making the country richer as we …
Tim Worstall, 5 Oct 2014

Osbo's booze, bingo, biz and big data Budget

Budget Day 2014 Chancellor of the Exchequer George Osborne presented what he described as a Budget for "the makers the doers and the savers" - and let's not forget the bingo players - in today's economy statement to Parliament. There was very little news for the tech world, with one notable exception: the announcement of the Alan Turing …
Kelly Fiveash, 19 Mar 2014
SGI Ice Cube Dual Row Container

US govt cuts squeeze crucial computer science, shoot country in foot

SC13 Analysis The US is shooting itself in the return-on-investment foot by tightening the screws on support for research on advanced computing systems. That was the message expressed loud and clear by a trio of HPC heavyweights during a "Retrospective on Supercomputing Technologies" session celebrating the 25th anniversary of the SC13 …
Rik Myslewski, 22 Nov 2013

BROADBAND will SAVE THE ECONOMY, shriek UK.gov bods

The government claimed today that a £1.2bn investment of taxpayer money in the deployment of fast broadband networks would return £20 for every £1 spent from the public purse. Secretary of State for Culture, Media and Sport Maria Miller has come under fire in recent months. The Broadband Delivery UK contracts looked set to …
Kelly Fiveash, 14 Nov 2013
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US workforce expands as more job seekers seek jobs

The US is still buzzed with its July 4th hangover, but the Bureau of Labor Statistics is open for business, delivering some good news: over the past three months, despite government job cuts, private-sector employers added enough jobs to keep pace with population growth. According to the June jobs report, the US economy added …

Osborne slashes growth forecast by half in bleak economy statement

Budget Day 2013 Chancellor of the Exchequer George Osborne "levelled" with the British public today by admitting that the economy remains in the toilet as he slashed growth estimates. "We've got to go on making difficult decisions so that Britain can live within its means," he told Parliament. But his grim statement to the House revealed …
Kelly Fiveash, 20 Mar 2013
Workers in a Foxconn plant, credit: Steve Jurvetson from Menlo Park, USA

US IT services sector takes some job hits in January

An expected, a slowdown in job creation in the United States in January with the Fiscal Cliff looming was massively offset by revisions in the job creation rate for November and December - according to this morning's report from the US Department of Labor. Like clockwork, the Bureau of Labor Statistics issues its monthly jobs …

Hm, nice idea that. But somebody's already doing it less well

We know there's massive amounts of invention going on. Innovations are popping up all over the place. And while this should be increasing economic growth, none of this invention and innovation is being reflected in our economies. My own diagnosis: when it comes to the "creative destruction" that capitalism is supposed to be good …
Tim Worstall, 31 Dec 2012

US unemployment dips below 8 per cent, but IT sector takes a hit

The economy in the United States added as many jobs as economists had been expecting and President Obama had been no doubt praying for, and the unemployment rate dropped to 7.8 per cent, the first time it has been below 8 per cent since the current Great Recession began in December 2007. The Bureau of Labor Statistics not only …

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