capitalism The ‘Creative Destruction’ of Capitalism For Joseph Schumpeter, the story of capitalism is of constant change; slowing or expanding, but never stagnating. The system itself is reliant on always creating new and better – new industries, new products, new demand, and new consumption are its staples. Once the ‘new’ has been introduced, the ‘old’ ceases to
Australia's economy: then and now Why Free Trade? “Every time one person freely trades with another, wealth increases”—that is, if you believe former Prime Minister Tony Abbott. [1] Somewhat surprisingly, Tony Abbott is correct—it is generally accepted that removing barriers to trade is beneficial. Given that free trade is hailed for its ability to improve living
disease A healthy obsession: Why the United Nations must act on healthcare ... now When Larry Summers and 266 other economists lobbied the UN for change, it wasn’t filled with the stereotypical phrases you would hear from a hard-headed economist. Summers and his colleagues talked about one topic: health. Health is an oft-neglected subject in discussions of economic growth in developing countries; access
brazil Rousseff and the Brazilian Problem If you haven’t been paying attention to the BRICS countries’ economies in the past year, you could be forgiven for believing their trajectory hasn’t changed since 2010. Just two years ago, Brazil, Russia, India, China, and South Africa were billed as the next world powers rising to challenge
