International Economy

International Economy

Question

What have been the chief features of the international economy during the last 100 years?

Answer

War seems to be the most important method for overcoming most economic crises. Over the past century we can clearly see that this is a reality, as every time a recession occurs, a subsequent war occurs accompanied with an economic recovery. Of course, there have been tremendous economic dislocations over the course of the past 100 years. Apart from two world wars, there was the Great Depression, and, in big chunks of the world, the dire economic impact of central planning. ...