International Trade and Finance

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

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    Time Matters

    Sep 14, 10 • 252 Views • No Comments

    In a brief and wonderful 2003 article called “Clocks and the Wealth of Nations“, economic historian David Landes explained the importance of accurate timekeeping. China missed navigational opportunities because they did not develop the precise...  [read more]

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    A Smaller Safety Net?

    Sep 10, 10 • 253 Views • 1 Comment

    In France, a 24 hour workers’ strike brought retirement rights back to the headlines. Saying that a 60 year old retirement age was no longer affordable, French President Sarkozy has proposed moving it up to 62. French workers disagree. In the U.S., a...  [read more]

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    Preventing a ‘Flash Crash’

    Aug 21, 10 • 259 Views • No Comments

    Do you remember the ‘flash crash‘? On Thursday, May 6, for close to 20 minutes, markets everywhere wildly fluctuated.  It began at 2:23 when certain stock prices started moving oddly. With Apple trading at approximately $250 a share, at 2:44,...  [read more]

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    The World’s Biggest Economies

    Aug 20, 10 • 199 Views • No Comments

    The Chinese leader Deng Xiaoping said, “It doesn’t matter what color a cat is as long as it catches mice.” Explained in the Teaching Company’s “Why Economies Rise or Fall,” Deng cared about results more than economic...  [read more]