Few men have had more of a positive effect on globalization and economics than these compiled here. There collect influence has shaped the direction of global markets looking forwards. It this here, on this page, that we give your access to all of them in one, concise page.
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]
Many writings have led most people to believe that, in essence, Milton Friedman (1912–2006 ) ideologically antagonized with John Maynard Keynes ( 1883–1946). This simplistic –and inaccurate– perception would lead us to believe that to solve most economic challenges, Keynes would recommend changes in government expenditures, while Friedman would go with monetary way –modifying the money supply, and interest rates levels– both of them almost exclusively recommending the mentioned changes, in the corresponding direction, up or down. What can we learn from these two economic powerhouses? [Read More]
What do the father of economics, father of evolutionary thought and the father of philanthropy have in common?
It is truly remarkable and unusual for a single region to have produced such outstanding set of minds, within a time window of a little over a century. What it that, in their own right, each had a positive effect on globalization? [Read More].
From my experience, the best way to answer these questions is by using the principle of comparative advantage, brilliantly explained by David Ricardo. What is the Principle of Comparative Advantage? And, how is it having a positive effect on globalization?
Among the many anxieties and fears about globalization, there are two very closely related, legitimate questions that stand out:
- How do we currently deal with globalization?
- What is the best way to deal with 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). Learn how Smith’s work has had a positive effect on globalization. [Read More].