Essays on World Economy

The Economic Status and Wealth Gap The article discusses the current economic status of the world's societies, as well as income, resource, and utility distribution disparities among citizens in the majority of the world's countries. While examining the economic condition of wealthy and poor individuals in society, the author claims that...

The Bretton Woods agreement was mostly negotiated by the United States and Britain, and it eventually included forty-four member countries (Ikenberry, 1993). The agreement was reached in principle to allow the world economy to forsake trade blocs and regional currencies in favor of a "liberal multilateral framework" (Ikenberry, 1993, p....

The Labor Theory of Value The economists Adam Smith and David Ricardo established and analyzed the Labor Theory of Value in the seventeenth and eighteenth centuries, demonstrating that the value of a thing is determined by the amount of work used. Value of a Product Many people have wondered for centuries what governs...

The Federal Reserve is the United States' central bank. It is the most powerful actor in the economy of the United States, and thus the world. It is a powerful institution known as a secret organization whose principal role is to control the economy's money supply. The Federal Reserve has...

The method of establishing policies and allocation decisions The method by which policies, priorities, and expenditure allocation decisions were established aided in ensuring a consistent pro-poor focus on government policies, programs, and public useful resource allocation. The basic ideas are: a strong poverty focus; a focus on consequences; and a high...

Too much of anything is always toxic. We always seek to leverage and obtain the best marginal utility available in everything we do. Yet, there comes a moment when returns leave the accelerating phase and enter the decelerating phase, eventually leading to a loss. In this conversation, I'll go through...

For the youth growing up today Friedman, in my opinion, sees a global economy that is competitive. Friedman contends that as the world becomes more equilateral, experts from China, India, and Europe will be able to more easily enter the global labor market. Less trade barriers and limitations are to blame...

According to Gourevitch, the British economy has experienced exponential growth during the previous ten years (Gourevitch 2016, p.57). Only recently, in the three months before to June 2017, has it increased to 0.3%. Additionally, it has succeeded in surpassing France as one of the EU's greatest economies. The rise was...

International political economy (IPE) is a rapidly developing social science field. This field contributes to a better understanding of global and international issues by employing an eclectic, interdisciplinary approach that employs analytical and theoretical approaches (Oatley 59). The IPE's expansion is based on the breakdown of existing disciplinary boundaries between...

The Impact of Equal Pay on the US Economy The US economy, like any other, is dependent on a number of factors in order to thrive. Having said that, it is also important to recognize that it is one of the world’s largest economies. Whatever the above may be, it has...

America's Dependence on Imported Goods and Services America depends nearly entirely on imported goods and services from the rest of the world to keep things running smoothly. To maintain the flow of all of this market without resorting to the use of armed force, the US has implemented an imperialistic foreign...

Many economists have been startled by the extraordinary expansion of most East Asian economies during the past fifty years, which has prompted the publication of numerous articles and books that attempt to explain the phenomenon. Many books and articles have been produced in an effort to explain why East Asian...