This paper is an attempt to provide an ideological postulation of Adam Smith and Karl Marx on globalization. This paper gives a fair picture of the different dominant nations over a period of time from sixteen century till 2010. The industrialzation in Europe and later on in North America...

One of the most often committed mistakes in economic reasoning is the supposition about continuity of economic processes. Yet what dominates in reality is the process of permanent changes which sometimes happen not in a linear but in a cascade way. It must be acknowledged that the capitalist...

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global gross domestic product contracted, and this contraction was accompanied by weakening of other key indicators of global...

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global GDP contracted, and this contraction was accompanied by weakening of other key indicators of global economic activity....