Energy plays an important role in national economies. There is a constant power struggle and competition amongst the world powers and international energy companies. Owing to its geopolitical position, Turkey plays a key role in most essential projects in the energy sector even though there is no trace of natural gas reserves within its territory
When human capital becomes valued and included in economic policies, the economy then proceeds to make full sense. To modern economists who base their actions on that line of thought, it is announcing loud and clear, what Edmund Phelps, Nobel laureate, says quite rightly: "the good economy is one that satisfies the aspiration to a good life".
China is waiting for the right moment to remove the US dollar from economic reign. Once the US dollar loses its leadership, China plans to make the yuan world's first currency. in order to challenge such a powerful economy as that of the United States, one will need a very large amount of gold.
The price of gold continues to grow at a fantastic rate. Not that long ago its price surpassed all expectations, and today gold is more expensive than platinum. The entire situation with gold can be called a "bubble". However, high prices for this metal have no impact on the global economic situation. No one will sell gold without a good reason
Hunger and malnutrition may kill millions of people in 20 years. The global tragedy is likely to be caused by three interrelated factors: fluctuations of food prices, extreme weather conditions and climate instabilities. The contradiction between the growing human needs and objective limits of resource become more and more serious
The growth of the neoliberalism school in the 1990s, with zealous implementation through variations of Thatcherism, Reaganomics, Rogernomics, and economic rationalism in Australia, has cleared the rich forests of local manufacturing enterprises that once existed in Europe, the US and Australia
On April 17, the world marked the International Day of Action against the Transatlantic Trade and Investment Partnership (TTIP). Demonstrations were held in London, Brussels, Madrid and Helsinki. Why do people protest?
Amid rumors that Greece might not pay its creditors if there is no progress in negotiations on its bail-out plan, Athens has made it clear that one thing is not linked to the other and has denied reports that it is planning to default, while stressing that it is doing everything possible to reach an agreement as soon as possible
China has long been advocating the inclusion of its national currency, the yuan, in the list of reserve currencies of the International Monetary Fund. Yet, the United States remains opposed to this claiming that the yuan is still not strong enough for the honor. However, many economists, including in the United States, think otherwise
American history over the last 100 years has been dominated by one institution, The Federal Reserve Bank. Interestingly, to this day few Americans know what it really is or exactly what it does. In how many different ways does the US most benefit from the petrodollar? Why does Saudi Arabia sell its oil for US dollars?
Stimulating economic growth outside the limits only increases the pressure on the services provided by nature. Growth is synonymous with expansion (increasing the amount of goods produced), and the ecological world no longer supports a type of overly aggressive expansion of the scale of nature values, especially biodiversity.
After World War II, and up until 1971, the US dollar was backed by gold. That meant that dollars were convertible to gold and it is the sole reason that the dollar was said to be, "as good as gold". Nixon unilaterally cancelled convertibility. In 1980, inflation was the mass media's favorite buzz-kill word, it peaked at 13.5%. Gold soared to $850
Russia was the first among BRICS members to have ratified the establishment of the New Development Bank, the main goal of which is to support investment projects for participating associations. The new bank is seen not only as support to economies of the five countries, but also good counterbalance to the IMF