History of economics Essay Example | Topics and Well Written Essays - 500 words

History of economics - Essay Example Before the evolution, slave trade was the only trade that people knew and they considered it an economy. During the sixteenth century, people were uncivilized and war was known to be the main economic activity (Canterbery 18). Many economists have come up with many theories to explain the history of economics. The western history of economics is divided into four theories (Deane 1). 1. Classical Greek: This period is also referred to as the feudalism (survival for the fittest). This is a time when political philosophy focused on ethical problems of the Aristocratic slave based. This was a time when people stopped slave trade and there was no economy and people only produced the necessities like food, clothing, and shelter. 2. Mediaeval Scholastic: During this era, economics was a clerical monopoly and the mediaeval economic ideas were essential. Individual economy behavior was relevant in the market economy rather than exchange economy which actually worked. 4. Modern: During the eighteenth century, Adam Smith, a French physiocrat, came up with the study of economics as a distinctive discipline, a science and a technique of analysis, and it was a time when economics was introduced to the people and everyone understood the essence of the economy. The two economic ideologies (classical Greek and mediaeval) which came up were mainly historical. The Greek and Mediaeval was based on political and theological interest and the approaches had little to do with modern economics. The mercantilist theory was developed during the seventh century. Mercantilists described economics as the art of managing a state, and they had created the element of demand and supply. They developed theories of interest rate, which had factors like yield of investment in the capital stock and the supply of loanable funds (Deane 3). The main focus was on external trading relationship on nations,

Analysis the Effects of Globalization in Life Essay

Analysis the Effects of Globalization in Life - Essay Example Throughout the academic semester, for example, I have been able to learn numerous things which have enriched my life immensely. Though some occurred subconsciously, others were instigated by the class assignments I undertook. The English class has offered me numerous opportunities to improve my life through the learning experience. The exchange of materials written by myself and others has profoundly enhanced my perspective of sharing. Sharing can be used as a way of analyzing oneself to find the strengths and weaknesses that exist. Finding the weaknesses in oneself can be an extremely difficult task to achieve. Through the criticism, and comments of other people on can be able to analyze himself or herself in a very objective manner. Objectivity in analyzing oneself reduces the probability of becoming paranoid. Critical analysis of oneself can make an individual substantially appreciate the positive and negative comments made by others concerning one's personality or activity. Throughout the semester, I have been exchanging my articles with other students so that they can present to me their views on the articles. The criticisms I received from my colleagues have been essential in developing my writing ability. New ideas have come to my attention through the reviews offered by friends concerning my writing. I have also been able to offer my reviews of others’ style of writing. Through reading their articles, I have been able to get their line of thoughts. This has helped develop my own ability to generate ideas presented in articles I normally write. While interviewing one of my friends called Gideon Park, I came across an intriguing issue which he raised. He believed that structures for essays limited the ideas and creativity of a writer.