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Economists are people who have much knowledge of various practices and policies in the field of economics. Moreover, they themselves propose and implement certain policies. Usually, economists work both in private and public sectors making a significant contribution to economics. Among the most prominent economists is Clarence Ayres. Clarence Ayres is a renowned economist and […]

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Purposes, Tools, and Limitations of Fiscal Policy The government employs fiscal policy through spending and taxation whenever there is a need to influence the economy. The policy can be tight or contractionary when it results in higher revenues than spending and expansionary when it results in higher spending than revenues. The purpose of fiscal policy […]

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The Chinese yuan has been appreciating steadily against the US dollar over the last decade. In 2005, the Chinese government tweaked its currency against the US dollar, which caused the Chinese yuan to appreciate at an average rate of 4.5% per annum (Shih & Steinberg, 2012). The performance of the Chinese yuan has been improving […]

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For one to understand what global economics means, it is vital to realize what the term economy means first. Economy is used to refer to all activities that are related to the process of production and consumption of goods and services in a given area. From this definition, it is true to say that each […]

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Adam Smith was a famous philosopher and political thinker known for his work The Wealth of Nations that revealed the relationship between the division of labor and the extent of the market. David Ricardo was also a philosopher, who contributed to economy and politics by writing his study, entitled On the Principles of the Political […]

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James Steuart was a famous British economist. In 1767, he published his work “Research on Principles of Political Economy” which is considered to be one of the first systematic scientific works in the field of moderate mercantilism. In fact, James Steuart was one of the leading representatives of late mercantilism. He saw the source of […]

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