Many clothing enthusiasts regard the famous Hermes handbag, the Birkin bag, as the pinnacle of luxury fashion. The bag, which often sells for more than $30,000, is priced so high due to its quality, but more importantly, its demand, Sotheby’s, a luxury brand broker, writes. However, the famous accessory has a more affordable competition: the “Walmart Birkin Bag,” or “Wirkin,” as it is affectionately dubbed, according to Tribune.
Read MoreFor years China’s economy has been a hot topic. Economists and policymakers have long debated whether China’s rapidly growing economy can surpass the United States. As we look toward the 2024 U.S. presidential election, the two economic strategies of the candidates could have profound effects on the U.S.-China economic rivalry.
Read MoreFrom once being an exploited colony under British Colonial rule, India has transformed into a global powerhouse, now one of the world’s fastest-growing economies.
Read MoreWhile on the local level, it seems that the Eras Tour was economically beneficial, on a national level, it is unclear whether the tour, as well as other large-scale tours, cause more economic harm or good.
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The 2022 election was also notable for a high voter turnout for young people, along with increased diversity in candidates for both the Republican and Democratic parties.
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Liz Truss, the UK’s new Prime Minister, faces many economic problems and political divides. The conservative PM will have to confront Boris Johnson’s legacy, high inflation, a fraying National Health Service (NHS), and an energy crisis threatening households and businesses.
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With the socio-economic conditions created by COVID-19 both exposing and worsening a myriad of systemic issues throughout the world, the last thing global labor rights activists expected was to gain more bargaining power. However, CBNC emphasizes that the pandemic has resulted in a massive labor shortage in almost every country, putting power back in the hands of the working class.
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Voters in Ecuador elected Guillermo Lasso, a conservative banker, to serve as president for the next four years. Lasso won the runoff election with just 52.5 percent of the votes, reports The Economist, after claiming a spot in the runoff with a lead of a half a percentage point.
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As the United States nears its one-year anniversary with the COVID-19 pandemic and subsequent lockdowns, many Americans are struggling with rent payments, home mortgages, and even putting food on the table. As Congress continues negotiating a third stimulus package and vaccine rollouts continue across the country, many anxious Americans wonder if the bill should include further provisions like building up our digital infrastructure or investing in a Green Economy.
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Tariffs have led to devastating results throughout history. Alexander Hamilton’s tariffs attempted to protect fledgling American businesses from British competition, resulting in higher domestic prices, inefficient business models, and finally the War of 1812. Another example is the 1930 Smoot-Hawley Tariff; duties on all goods were raised to a whopping 60 percent. According to PRI, it just so happens that the highest tariff in history was implemented on the eve of the Great Depression. They simply cause economic pain.
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