The two-sector specific factor model is typically used in the theory of international trade where it helps to clarify the principle of comparative advantage. Instead, we use this model as explicit theoretical framework to explain major trends of long-run economic development. Combined with...

This article addresses the growing gap in the literature between qualitative data on prices and money in France around World War II, and the available CPI. It gathers archival price data to calculate a new CPI for 1938-1949, incorporating both official and black-market prices. The study...

From ancient times to the modern world, "The Shortest History of Economics" (published in the United States as "How Economics Explains the World") discusses the hidden economic forces behind war, innovation and social transformation. It traces how capitalism and the market system emerged, and...

Like many countries, Spain has gone through a series of financial crises, both before and after its industrialization. There are many underlying causes for these crises, as well as for the current Spanish downturn. It is worth noting that there are similarities between recessions throughout the...

Basic innovations and their diffusion, the expansion or contraction of the level of economic activity and the volume of international trade, rising sovereign debts and their defaults, conflicts and the outbreak of wars, are some of the major phenomena appearing during the downswing or upswing...

No longer does society consider the full extent of the argument and consequences or benefits of a system change. All the record-breaking economic success of the last few decades simply furthers a divide between people/organizations that have money and people/organizations that need money....

This paper focuses on the use of silver as a monetary standard in Mexico during approximately the last three decades of the nineteenth century and the first decade of the twentieth century. During this period, several events occurred in the market for silver that affected those countries...

This paper presents interesting correlations which exist between a model of long-wave economic activity and crisis in the United States – “the Political Economy wave” – and the structure of the rings of Saturn, one of the most confounding structures known to science. At the present time...

The development of economic thought in the Islamic tradition started since the beginning of the first century of the Hijrah. This period is a time when the scientific works about how to achieve economic progress and strengthen the country through foreign trade intangibles movements in the West,...

This study aims to analyze the thoughts of M. Abdul Mannan about the concept of price in Islamic economics. The prices offered by the secular market are not seen as guidelines for the welfare of society, especially in the context of Islamic economics where social care is so great that...