developed world in a perpetual slump--which is unlikely to right itself without new policy solutions. For decades, economists … developed world remains under threat"-- …

industrialzation in Europe and later on in North America changed the pattern of demand in the world market. The two World wars and … Great Depression had shifted the economic power center from Europe to USA. The major political division of the world after … Second World War was an essentially that between the west (led by the United States) and the east (led by the soviet …