Putin, Russia, Ukraine, and the Globalized World
When ordering the Russian Army to take control of key points of Ukraine’s Crimean Peninsula on the first weekend of March, it is highly unlikely that Vladimir Putin had appropriately contemplated the full financial and economic implications of such a decision. Read More
Globalization and The Olympics (Part I)
Every four years, during two weeks and a half, the entire world –figuratively speaking– takes a breather to see and learn about high-performance athletes competing with the best-of-the best, in search of new olympic –and world– records setting and all sort of sports feats. Read More
From Hydra to Phoenix. The Transformation of Developing Nations
Indeed, occasionally it is both amazing and truly ironic how the global socio-economic cycle evolves. Not so many years ago, during the late 80s and early 90s, most of the underdeveloped world was in shambles, overburdened with debt, high levels of inflation, and frequent recessions and currency crises. Developing nations were, at that time, a basket-case. Read More
Globalization and Capitalism
Both, capitalism and globalization have often been vilified –sometimes even paired up as a super villain duo. They have been charged with pretty much everything going wrong in our lives. Granted, sometimes, poorly implemented versions of both phenomena are to be blamed (The Cyprus debacle being one of the most recent manifestations). However, a careful and more detailed analysis will reveal that things are not as simple as they are often believed to be. In other words, let’s not shoot the messenger. Read More
Outsourcing: Opportunities, Myths and Realities
Outsourcing is a very widespread practice, with unknown boundaries. In that respect, the US is a leading nation, as in many other areas. A constructive and realistic way to visualize jobs displacement by outsourcing is as an opportunity to upgrade skills and remuneration. History and experience unmistakably show that, in the long run, excessive emotional attachment to personal working habits does not pay well. An open, flexible mind, with a strong desire to learn new skills, is the best preparation of them all, for the hyper-competitive global economy. Read More.
Adam Smith: The Wealth of Nations and Globalization
An Inquiry into the Nature and Causes of the Wealth of Nations (1776) was the original title of the seminal book that lay down the conceptual framework for modern Economics. The book is commonly known as The Wealth of Nations; it was written by the Scottish Adam Smith (1723–1790). The impact of his brilliant work in the following generations has been such that Adam Smith is indisputably considered the father of economics. Read More.
David Ricardo: Comparative Advantages and Globalization
In the previous post we boarded a similar line of thought, regarding Adam Smith and The Wealth of Nations. It is only natural, almost a reflex, to do the same thing with another pillar of economics, the British, David Ricardo (1772-1823). Read More.
Five Positive Effects of Globalization You Might Have Missed
There’s much that’s happening around the world and in your own backyard as world leaders, academics and everyday people like you and me push toward a more unified global existence. These people are asking and finding answers to some of the toughest questions we face. These are five really good articles we found that you might like. Read More.
Joseph Schumpeter and Creative Destruction
The original concept of creative destruction was introduced by the German economist and sociologist Werner Sombart (1863–1941) and developed and popularized by the brilliant Austrian-American economist Joseph Schumpeter (1883–1950) in his book Capitalism, Socialism and Democracy (1942). Read More.
The New World Order: G7 and E7 Nations
There has been a profound change in the world’s progress as we have known it up to recently; capitalism’s geography is changing. In recent years, the average economic growth rates gap between the big emerging countries versus the big developed ones has been both substantial and consistent; that has already been going on for a considerable number of years, overwhelmingly favoring the largest emerging nations. The relative economic and political weight of the E7 economies has been the net result, said weight has been progressively increasing compared to the G7 countries’ weight. Read More.