Modern times, old trends

Article Abstract:

Economic historian Jeffrey Williamson provides evidence that global economic integration tends to damage owners of scarce resources such as labor in the US and land in Europe. As numbers of low-skilled laborers in rich countries decline, barriers may be erected to migration and trade as occurred during the 19th century.

Research, Analysis, Economic aspects, International economic relations, Economic history, Labor supply, Labor force, Williamson, Jeffrey

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Peaceful co-existence

Article Abstract:

Governments may not be able to use traditional remedies to avoid depression if an economic crisis occurs because of the globalization of capital markets and the interdependent nature of the economy. Currency rates are unstable, and governments are more willing to cut spending and raise taxes than is prudent.

Forecasts and trends, International aspects, Economic policy, Capital market, Capital markets, Depressions, Economic depressions

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