Two hundred and fifty years ago the people of America were subject to an unrepresentative government controlled by powerful commercial interests. They rebelled and formed their own government, which has now come to be controlled by powerful commercial interests. Once again, “these are the times that try men’s souls.” What lessons can we learn from history to help us through this crisis?
Part G in the Insider’s Economic Dictionary.
Gains from Trade: A euphemism for trade dependency resulting from the specialization of production between food-surplus nations and food-deficit countries, and the parallel polarization between high-technology and low-wage producers. Originally coined by free-trade advocates, the term is now used primarily by the agriculturally protectionist economies of North America and Western Europe. Under Ricardian trade theory, the gains from trade are measured by the amount of labor and related costs to importers of producing similar products at home. Continue reading
Voice of Russia
November 12, 2013
By preventing another act of aggressive war against Syria and giving asylum to NSA whistleblower Edward Snowden the Russian Federation and due to the efforts of the BRICs countries being led by Russia, the “World’s Sole Military Superpower” has lost the reigns of world domination, and the world has become a multi-polar place once again. Continue reading