Economic School of Thought

Year Major events School of thought Sub-schools Thinkers/ Philosophers/ Economists 1710 Age of Reason The European Enlightenment era provided a boost to scientific inquiry. Thinkers began to apply scientific principles not only yo the natural world, but also to discover “laws” of human interaction, in order ro be able to explain how human society works….

The conundrum of Economic Growth versus Economic Development

India is one of the fastest growing economies in the World today. It is growing at the rate of almost 7%, even surpassing major developing economy China. Recently, India has also jumped up on the Global Competitive Index by 16 ranking 39. Also, India’s ranking moved up 12 spots in the Doing Business Index released in October…

Which country is the most economically self-sufficient?

The parameters that convince to be economically self sufficient in the long term are raw materials/ input materials. The output can be created or produced from these inputs such as technology, medicines, refined energy products, automobiles, food production, etc After the exploration of Shale Gas and its utility, United States has emerged as the most…