by Andy Beharrell and John Sloman

The relentless rise of oil

August 2004 has seen the oil price hit new record highs at over $45 a barrel. Why is this happening and is there anything we can do about it? In this topical issue we examine the reasons behind the oil price and consider whether we have seen the last of the increases.

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Trade disagreements?

In September 2003, the trade talks in Cancun to try to achieve the Doha Development Agenda collapsed in disarray. Things looked bleak for the possibility of the completion of a new round of trade negotiations as the developing countries refused to back an agreement that they saw as benefiting the developed world at a cost to them. Though it would not generally be true, we can say this time that a year has been a long time in these trade talks. In August 2004 all 147 members of the WTO agreed to a trade deal that put the talks back on track, though a lot of the detail has still to be hammered out.

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Mrs. Thatcher's legacy

Looking at Mrs. Thatcher's legacy may not seem very appropriate to address as a 'topical' economics issue, but 2004 marked the 25th anniversary of her election in 1979 and her influence has been felt for a considerable time since. Many of the policies instituted by her government are still being used for economic management and privatisation (a term coined by chance) has become part of the international economics vocabulary.

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Olympian ideals?

These three short news stories consider a range of topical issues for September 2004. In this Olympic year, the enormity of the task facing governments both here and abroad in maintaining the level of economic prosperity has been brought sharply into focus with a range of exogenous shocks and unexpected changes. We look at interest rates, the stability pact and mark Gordon Brown's record as the longest ever serving Chancellor with an assessment of his approach.

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