The concept of globalization refers to the growing interdependence of countries, resulting from the increasing integration of trade, finance, investments, labor markets and ideas in one globalmarketplace. The most important elements of this process are the international trade and the...

More than 170 years ago, Frédéric Bastiat noted in his masterly work Economic Sophisms that the “opposition to free trade rests upon errors, or, if you prefer, upon half-truths.”1 Ever since Adam Smith successfully replaced mercantilist orthodoxy with free trade doctrine in his celebrated...

One of the important goals of trade facilitation is to lower the costs of trade that serve as a barrier to the developing countries from enjoying the benefits of increased trade and becoming integrated into global supply chains that account for nearly 60 percent of global trade today. The high...

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...

As the U.S. loses its monopoly in high technology, policymakers are calling for increases in the number of science and technology graduates and in R&D investment. We believe these proposals fail to recognize what is distinctive about the emerging global economy. Our studies of engineering in...

Increased labor migration from Mexico to the United States between 1980 and 2000 stemmed in large part from macroeconomic policy reforms, implemented at the domestic and international levels, that we now associate with economic "globalization." These reforms were ushered in by the era of "deep...

This paper examines the role played by India in the negotiations at the WTO platform post-adoption of the 'Agreement on Agriculture' and its agenda for future. The chapterization of the paper is as under:(I) Introduction(II) Agreement on Agriculture: Basic Tenets(III) Agriculture: Post Uruguay...

The United States stood virtually alone when it enacted its first antitrust statute in 1890. Today, almost all nations have adopted competition laws (the term used in most other nations), and US antitrust agencies interact with foreign enforc-ers on a daily basis. This globalization of antitrust...

From the standpoint of policies, the different branches of economics may be aggregated into two categories: dirigiste and laissez fairist. Dirigiste theories in economics have been based primarily on the complexity of commodities: this allows commodities to be ranked according to the...

In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of trade. We demonstrate this first theoretically in a...