1. Does the gap between rich and poor countries widened?
... be found to help the poor. The oil crisis in 1973, the "oil shock- was a turnabout for most of the countries and their economy. This crisis showed the world that Keynesianism was no longer efficient and that a new strategy was required. So, when Thatcher and Reagan (elected in 1979 and Reagan in 1980 ... gulf between the rich and the poor. The first real organisation that was supposed to rule the world economy and reduce the tariffs barriers was the GATT but as it failed, it was replaced by the WTO (World Trade Organisation). A lot of hopes were put in this new organism that was suppose...
- Word Count: 6472
- Approx Pages: 26
- Has Bibliography
- Grade Level: Undergraduate