Most economic specialists agree that “there is gain from trade.” In 1817, David Ricardo posited that countries that specialize in producing and manufacturing goods with a competitive edge gain from trade. Rapid growth has been seen in the past fifty years around the world that inevitably affected the lives of individuals and nations. Academia has been conducting research on this rapidly growing than ever trade phenomenon for decades. Studies have

Do the ethical and moral principles make sense in the modern economic system? Does the economic system today allow for ethical considerations? These are the questions that are somehow implicitly answered with a no, in the modern socio-political scenario. Adam Smith is given the mantle for inspiring such an economic system void of moral considerations. Amartya Sen describes that the ideas of Adam Smith are interpreted in a way that

In the days since the United States presidential elections, much has changed. The new President; Donald Trump, is a businessman by profession and has moved along, making new laws and bringing economic reforms, as a businessman. A nation’s economic well-being is measured by its GDP. The GDP is a monetary measure of the goods and services that are produced by the country(Amadeo, n.d.). The United States’ economic performance in the

Chapter 1: Introduction A crash in a stock market is a sudden change in the stocks, which usually is a decline of stocks, and this leads to a loss of the wealth of the state. These crashes are often seen around the globe and are the result of many socio-economic factors that lead to this type of situation. Generally speaking, it’s a phenomenon in which the socio-economic factors contribute to

Introduction The standard of living is the level of material goods, wealth, necessities, and comfort available to a particular socioeconomic group, mostly a nation. It includes factors like poverty rate, income, employment availability and quality, Gross Domestic Product, political and economic stability, national economic growth, house affordability, and quality, the expectancy of life, quality of education, and whether available (International Labour Organization. “Global Employment Trends for Youth 2013.”). Living standards

No Country can grow and increase productivity by itself. Certain raw materials and expertise are requested to make a win-win situation for all the parties in an international transaction between two different countries. When countries deal, they need a currency exchange rate to decide the worth of their merchandise in foreign currency and pay the required amount to the other party in the transaction. The Global Corporate World is doing

Conscious Capitalism is a program that considers that trade is moral since it generates worth. In the custom of Adam Smith, the chief who is the social economist, it considers that the trade is moral as it progresses our skill. And, it is epic as it generates the fortune that highs individuals out of poverty (“Home,” n.d.). Conscious Capitalism encourages the social goals of workforces, sellers, and societies. These public