Forcing states to reduce investment in basic provision Non-western states have been told to reduce intervention in their economy, as this would allow the emergence of a free market economy and in addition release funds that would allow the servicing of debt. ...
Adam Smith Economics is a science that most people practice everyday. Economics is the social science dealing with the use of scarce resources to obtain the maximum satisfaction of society's unlimited economic wants. Many of the ideologies of the modern world have been shaped by prominent economists of the past, like Adam Smith. Adam Smith is recognized as the Father of Economics. He was student, professor, tutor, commissioner of customs in Scotland, traveler, philosopher, and an economist. ...
Comparative Economic Systems It would be extremely easy to state that economics is an area of study that seeks efficient use of scarce resources to satisfy unlimited wants and that economic systems simply refer to the outcomes of economic activities, which are influenced by social, natural and political settings. However, it is clear that economics goes far beyond utilizing resources or levels of development and by comparing different economic systems one can analyze their importance and influence on other sectors of society. Apart from affecting other sectors, an economic system is also ...
benefits and threats of globalisation Introduction There are processes in the international order--driven by revolutions in communication and information technology--that exhibit seemingly inexorable globalising tendencies while, at the same time, there are a range of actions, adopted by states and non state actors alike, that attempt to resist these often ill defined phenomena captured by the all embracing notion of 'globalisation'. For example, the long term tendency towards freer trade, electronic commerce and the seemingly uncontrollable power of deregulated capital markets do...
