World economy

thirsty for knowledge, questioned anything and everything, who dived into curiosity, and who increased the country’s worth. What many do not realize is the richness that education delivers to an economy. Author Mustafa Hatipler, in his article "Development Economics and…

Indronil Mukherjee ECO 101 Economic and Political Views are Forever Intertwined In the crazy, complicated world on economics, we often need to hear the opinions of others more experienced in the field to reach a better understanding of current economic happenings. The people whose jobs is to make sense of the economy are economists. An economist is someone who is essentially an expert in the field of economics. Throughout history, there have been various…

Famines and the Making of the Third World represents a polemically rich work that fails to make the author’s main point: that “the ‘Third World’ is the outgrowth of income and wealth inequalities…shaped most decisively in the last quarter of the nineteenth century” with Asian, African and Latin American economic systems, particularly rural ones characterized by commercial commodity production, joining the larger global economy (15-16). Davis asserts the “Third World” grew out of the effects of…

gasoline or energy. In reality, however, prices emerge dependent on the cost of producing the good and the value that the good holds. The most poetic part of this entire phenomenon is that prices are autonomous. For instance, imagine that the entire world is suddenly swept into an energy crisis, oil wells everywhere have dried up. As oil becomes more and more scarce its price abruptly begins to rise; of course the government can enforce a price ceiling guaranteeing shortages and encouraging…

The United States has a lot of economic history dating back to the late 1700s. In the 1700s, the colonial economy was pre-industrial. The economy consisted of farming. The market economy was based on agricultural products. Now, the colonies did depend on Britain for many finished goods, mainly because laws prohibited making many types of finished goods in the colonies (). But American shippers were able to offset half of the goods trade deficit with revenues earned by shipping between ports…

condition of the globe can be measured with different indicators which seeks to define the changes which have occurred and determine whether there is a positive or negative trend in the economic growth within various regions. Economic growth around the world is analyzed as per the regions due to the existing regional trading policies and the diversity of economic environments when the key driving factors of economic development are different (Acs, Groot, & Nijkamp, 2013). Many of the developed…

In the fast developing world, there is no room for doubt that rapid economic development is one of the most successful achievements in human history，both in developing countries and developed countries. Countless people are sharing the improvement of living standard in many aspects. However, with the threat posed by the increasing environmental problems and resource shortage problems, considerable amount of public attention is being attracted to the achievement of sustainable development.…

opinion the Tokugawa shogun period provide the foundation for modern economic growth in and after the Meiji period despite that the Japan economy couldn’t growth as rapid as the European one. However, there are a historical debates about the modern economic growth in the Edo period. According to them, there was no economic growth during the Edo period and the economy itself was sluggish. At the governance of Tokugawa family there were a lot of changes which provide the foundation for modern…

The world consists of various economies with their different growth margins. These economies have been classified based on level of development, growth stages and emergence. These classifications are inspired by GROWTH THEORIES/MODELS. Growth theories are speculations used overtime to classify economies or determine development in an economy. Under Growth theories we have:  Endogenous Theory/ New Growth Theory  Exogenous Theory/Solow Growth Theory The above theories are used in illuminating…

of roads and highways within the regions the higher will be the chances of the region to accelerate its growth through access and utilization of all the available resources. The importance of roads and highways on affecting diverse outcomes on the economy including trade and commerce cannot be neglected and their impact on the exports and imports of the country cannot be denied. Roads and highways within a country can foster trade is the main direct expected outcome. It is also obvious that…