International Trade, FDI, and the Austrian School of Economic Thought

International trade has been a key area of concern for businesses. The recent technological advancements have enabled the development of a global market place through which transactions can be carried out across wide geographical coverage. This has reduced the world¡¯s individual markets into an integrated global village. The spread of businesses outside their local boundaries through foreign direct investment has been mainly enhanced by the desire to satisfy the consumers¡¯ needs thus achieving the requirements of the Austrian Economic School of Thought. The development of international trade has caused an overall rise in the rate of economic growth.