When people think of economics, the temptation is to think of old men and women, sitting around on green benches debating the most boring of issues. When they think of football, they think of the glitz and glamour of the Premier League – young millionaire men driving fast cars and living the life most people can only dream of.
Cocaine is one of the most profitable businesses in the world. With its plain strategies of demand and supply, key market players have been able to demonstrate the futility of prohibition for decades. Despite the billions of dollars that the Colombian government alone has thrown at the ballooning industry, drug trafficking has prevailed.
Following many years of economic and political sanctions, where Iran played second fiddle to Saudi Arabia in the Middle East, the Persian state is finally back into the spotlight.
High inflation levels, shrinking economy, falling government spending and political unrest have all described the Russian economy in 2015. The crucial question now is: Is it really that bad?