The Global Economy (Student Guides to Business and Economics)

This engaging and accessible book is a must-read for every economics student. It explores what the global economy is, how it developed and how it operates today, and why certain aspects of it have become controversial. The global economy represents the combined economic output of all countries on Earth and is currently estimated at around $80 trillion. While globalization has made it possible for greater economic interaction between nations and rapid growth on a worldwide scale, many have argued that it has also helped to widen the gap between the richest and poorest nations. The movement of goods and services between countries also has major impacts on national politics and international diplomacy, as well as significant implications for human rights and welfare. Part of Greenwood's new Student Guides to Business and Economics series, The Global Economy gives readers an in-depth yet reader-friendly look at one of the most important aspects of modern economics. Using simple language and relevant real-world examples, this book is appropriate for high school and undergraduate economics students as well as general-interest readers curious to learn more about the global economy. Provides a concise and easy-to-read overview of a broad and foundational topic in modern economics Helps readers better understand the complex relationship between national and international economies Includes a Questions for Further Discussion section, designed to stimulate classroom discussion and encourage critical thinking Offers an at-a-glance chronology of events related to the history of the global economy, allowing readers to trace the evolution of concepts and practices over time "The global economy represents the combined economic output of all countries on Earth and is currently estimated at around $80 trillion. While globalization has made it possible for greater economic interaction between nations and rapid growth on a worldwide scale, many have argued that it has also helped to widen the gap between the richest and poorest nations. The movement of goods and services between countries also has major impacts on national politics and international diplomacy, as well as significant implications for human rights and welfare. Part of Greenwood's new Student Guides to Business and Economics series, The Global Economy gives readers an in-depth yet reader-friendly look at one of the most important aspects of modern economics. Using simple language and relevant real-world examples, this book is appropriate for high school and undergraduate economics students as well as general-interest readers curious to learn more about the global economy."-- Provided by publisher Cover 1 Title Page 4 Copyright 5 Contents 8 Preface 10 Acknowledgments 14 Introduction: History of the Global Economy 16 Chronology 38 Chapter 1. Economic Rules of the Global Economy 48 Chapter 2. Global Economy, Politics, and Culture 58 Chapter 3. Gains from Trade 64 Chapter 4. Protectionism and Standards 70 Chapter 5. Measuring the Global Economy 80 Chapter 6. Global Financial Systems: Exchange Rates and Exchange Rate Systems 90 Chapter 7. The Organizations That Influence the Global Economy 104 Chapter 8. International Rules, Trade Agreements, and Trade Unions 124 Chapter 9. Major Controversies of the Global Economy 144 Chapter 10. The Influencers of the Global Economy 158 Conclusion: The Future of the Global Economy 174 Questions for Further Exploration 190 Bibliography 196 Index 216 About the Author 226 "Our journey through this book looks at the why and how the nations of our small, fragile sphere in the cosmos cooperate, or not, with each other in a global economy"-- Provided by publisher