Economics Observatory | Questions and answers about coronavirus and the UK economy

How did fashion grow into a global business?

Fashion is a big part of the modern global economy. The industry reaches almost all corners of society and generates massive profits. But its evolution has been marked by contrasting stages. Today, fashion is highly democratised as well as being deeply unsustainable. It has not always been this way.

Audio recordings

Science, technology & innovation

The personalisation economy: how is AI affecting businesses and markets?

The quantity of consumer data to which many companies now have access means that they can personalise their goods and services, as well as optimise their operations. In this way, artificial intelligence is changing big parts of our lives – from how we shop and learn to our banking and healthcare.

DATA HUB

Top global fashion brands

Louis Vuitton reigns as the most valuable apparel brand, worth $32.2 billion.

Today's #ChartOfTheDay shows the dominance of European fashion houses.

Click on the chart to read José Antonio Miranda and Alba Roldan on how fashion has grown into a global business.

Monday 24 March 2025

Attitudes, media & governance

How has national wellbeing evolved over time?

Survey data on national wellbeing only go back a few decades, but text analysis makes it possible to observe changes over longer periods of time. The results reveal the big influences on peaks and troughs in human happiness: income, health, aspirations and avoidance of major conflicts.

MAGAZINE

Read the latest edition of our magazine here

The UK government is proposing regulatory reforms of the financial services sector as part of its agenda for boosting economic growth. The main focus is on encouraging domestic investment by pension funds and relaxing household access to credit. The chances of success are highly uncertain.

Health, physical & mental

Work and wellbeing during Covid-19: how were European countries affected?

Comparing data from France, Germany, Italy and the UK shows that social inequalities typically increased during the pandemic. Young people and those with less education were most affected by job losses: policy intervention could get more of them back into work.

Crime & policing

Youth violence in England and Wales: what can be done?

Youth violence has high costs – not just for the victims but for their families and communities. Tackling the crisis needs a coordinated approach of the kind deployed in response to the Covid-19 pandemic – one that includes police and the criminal justice system, but with public health at its core.

Business, big & small

Why are there so few women leading the UK’s biggest companies?

Only one in ten of the UK’s top businesses have a woman as chief executive. Several factors explain this imbalance: from discrimination and a lack of networks to low confidence and the ‘motherhood penalty’. Investment in childcare and more diverse boards could help to close the corporate gender gap.

Jobs, work, pay & benefits

What explains the gender division of labour and how can it be redressed?

Adam Smith’s division of labour was about the efficiency gains from task specialisation in factories. But the gender division – gaps between men and women in pay, prestige, career progression and much more – can also be highly inefficient as well as highly inequitable.

Attitudes, media & governance

How can we give women equal voice in economics?

Economics has a big problem of gender imbalance. Analysis of a series of polls of top economists suggests that strengthening women’s voices in the field requires not only increasing women’s representation in economics but also rethinking how different opinions are heard and valued.

News

#TalkingEconomics: what are the legacies of the Covid-19 crisis?

Bethan Staton reflects on some of the conversations at the first edition of Talking Economics, an event developed in partnership between the Economics Observatory and the long-running festival of economics at Bristol Ideas.

Jobs, work, pay & benefits

How do safety concerns shape women’s opportunities in developing countries?

Women constantly face the possibility of becoming victims of sexual assault in public spaces and at work. This may deter them from pursuing better education and career opportunities. Ensuring that women are secure helps to guarantee that they will have better futures.

Families & households

How will the reversal of Roe v. Wade affect American women?

The US Supreme Court’s decision to remove constitutional protections on access to abortions will have significant effects on women and their families. Research shows that the reproductive, social and economic lives of those who are poor, young and/or black are likely to be most damaged.

Trade & supply chains

Foreign and domestic protectionism: what impact on the British economy?

In the late 19^th century, Britain faced rising protectionism in some of its key export markets. Then, in the early 20^th century, the country itself embraced a protectionist trading agenda. These experiences had long-term consequences for the structure and productivity of the national economy.

Families & households

What are the effects of paid family leave programmes in the United States?

To compensate for the lack of national provision, nine US states plus the District of Columbia have launched their own paid family leave programmes, with four more in the works. Studies highlight the effects of these policies on health, fertility and employment, but there is still much to learn.

All Answers