A portmanteau of the words “Britain” and “exit”, “Brexit” is the nickname given for the British exit of the European Union. When the moment came for Britain to vote to leave the EU, the margin of victory astonished even the proponents of the exit. The campaign won by 52 percent to 48 percent. According to The New York Times, “Pro-Brexit advocates have framed leaving the European Union as necessary to protect, or perhaps restore, the country’s identity: its culture, independence and place in the world. This argument is often expressed by opposition to immigration.” As Britain focuses on its place […]

In June 2014, the Bureau of Economic Analysis released another estimate concerning real gross domestic product for the first three months of 2014. This estimate, the third and final estimate for this time period, reveals that the U.S. economy contracted more than was previously estimated. The Bureau’s release reveals the output in the U.S. declining at an annual rate of 2.9%. This should be compared to a GDP growth of 2.6% that was seen in the fourth quarter of 2013. According to Samantha Sharf of Forbes, “The 2.9% decrease in real GDP reflected the negative contribution from exports as well […]