 The World Economy, Prosperity and ConflictsCarlos M. Peláez and Carlos A. Peláez Chapter 1 in Government Intervention in Globalization, 2008, pp 13-24 from Palgrave Macmillan Abstract: Abstract The world produces over $44 trillion per year. There is significant inequality among nations, with most production and wealth concentrated in countries that have only a small share of the world’s population. The application of science to practical problems of production, or technology, remained relatively subdued until around 1750. Technology surged around the industrial revolution first occurring in England in the second half of the eighteenth century, spreading to Europe, the US and other regions. Growth of production accelerated rapidly not only by the use of more labor and capital but mainly by more efficient methods of production and the organization of business and nations caused by waves of innovation. A significant part of progress originates in improving education and training of the labor force, or human capital. Institutions also play an important role in the progress of nations. There are numerous conflicts in globalization and multiple views on resolving them. Keywords: Human Capital; World Economy; Industrial Revolution; Advanced Country; Gross National Income (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-22834-4_2 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.