46 articles for "John Hawksworth"

28 April 2015

Value of online media to consumers understated by £17 billion

By John Hawksworth Statisticians generally measure the size of the economy by GDP, which is an estimate of the total value of goods and services produced at market prices. But, as economists have increasingly recognised[1], there are limitations to GDP. One important aspect of this is that consumers can now...

20 March 2015

Economic view: Light at the end of the austerity tunnel

By John Hawksworth The Chancellor largely stuck to his fiscal plans in the Budget, but the one big change was to end major spending cuts in 2018/19 - a year earlier than set out in the Autumn Statement in December. With the economy performing well, he does now see some...

11 March 2015

UK economy: good progress but not plain sailing

By John Hawksworth The UK economy has performed well over the past year with growth up and inflation and unemployment down. But it has also entered some pretty choppy international economic waters. There are two main risk factors. First, despite the boost from QE and lower oil prices, Eurozone growth...

10 February 2015

The World in 2050: will the shift in global economic power continue?

By John Hawksworth and Danny Chan We have just produced the latest in our series of reports looking ahead to the World in 2050. This contains our latest long-term growth projections for 32 of the largest economies in the world, accounting for around 84% of total global GDP. So what...

20 January 2015

The Power of Shared Myths

By John Hawksworth Are shared myths the primary driver of human progress since the Stone Age? That is the central thesis of ‘Sapiens: A Brief History of Humankind’, an engrossing and provocative new book by Yuval Noah Harari, professor of history at the Hebrew University of Jerusalem. The book details...

05 December 2014

Can Africa’s economic rise be sustained?

By John Hawksworth During the second half of the 20th century, sub-Saharan Africa[1] was generally an underperformer in the global growth race. Over the past decade, by contrast, it has been one of the fastest growing parts of the world economy, as shown by the blue bars in Figure 1...

28 August 2014

Escaping the middle income trap – what’s holding back the Fragile Five?

By John Hawksworth From the turn of the century until around 2012, the big story in macroeconomics was the shift in economic power to the BRICs and other large emerging economies such as Indonesia, Mexico, Turkey and South Africa. This story remains valid in parts, but the last couple of...

28 July 2014

UK recovery remains on track – but no grounds for complacency

By John Hawksworth Friday’s GDP data took us past a very symbolic landmark. The level of output in the UK is now slightly above its pre-recession peak. However, we should bear in mind that the UK population has risen by more than 4% since early 2008. Average income per person...

09 July 2014

UK economy takes off – but it could still be a bumpy ride

By John Hawksworth Our latest UK Economic Outlook report, published today, suggests that the economy is on a clear upward trend. GDP growth has accelerated from a sluggish 0.3% in 2012 to 1.7% in 2013 and we expect it to pick up to around 3% on average in 2014. It...

29 May 2014

Inequality and the Piketty debate

By John Hawksworth and Andrew Sentance Thomas Piketty is the French “rock star” economist whose magnum opus, Capital in the Twenty-First Century, has become a surprise bestseller on both sides of the Atlantic and one of the most talked about books on economics in recent times. It has also attracted...