Previously, economists have coined the term the 'lipstick effect' to describe consumers' desire to increase their purchase of goods, like lipstick and chocolate, when faced with an economic or social crisis.
In his March 2011 Budget, George Osborne promised a 'march of the makers': an economic recovery led by manufacturing industry boosting exports and investment spending. But companies have been reluctant to oblige, and as we look forward to 2014, a recovery built on this solid foundation seems increasingly unlikely.
On the busiest Christmas shopping day of the year staff at Action for Children are working to support the poorest families across the UK stay warm and fed. This is a sad reflection of the worsening effects of the tough economic times we are in; in previous years we handed out presents during the festive season.
Free-market (neo-liberal) capitalism has been the dominant type of capitalism for the last three decades; it failed spectacularly to predict the 2008 global economic crash, the second largest economic crisis in history, after the great depression.
You don't have to be a Marxist to feel a sense of outrage at these statistics. I trust that most of us with an ounce of sympathy for the suffering of fellow human beings would sense that the global economic system that engineers such disparity in the way people live is dysfunctional and requires serious reforms.
Neither left, nor right, confronts the reality of an economic system built on the assumption that certain inputs, notably energy and minerals such as phosphorus and copper, are limitless and always easy to access...
A year ago I went along to a three day re-educational seminar called Turning Point, delivered by best selling author and international speaker Dr Rohan Weerasinghe. I was blissfully unaware at the time that my life was about to change for good.
The harsh reality facing Spain's lost generation has been painfully showcased after an online rant by a young Spaniard with
Though last week's opening of the Dutch parliament may have caught some eyes for reason of King Willem-Alexander's maiden
A third world war - nuclear or conventional - is a good bet and not far off and, other than to make another cup of tea, nothing can be done to stop the next global convulsion...