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In spite of economic interconnection between the New South, the American West and the Industrial North, tensions prevailed in the three regions due to various differences. The agricultural revolution in the South displaced mush of its population to the North and West of the US increasing the rates of poverty and crime. The tariff issue created nuisance in the American politics and exacerbated tensions between the North and the South. While the northerners supported the tariff as a means of expanding the economy, the southerners refused it as an undeserved and unfair advantage. The currency issue also heated up Continue reading...

The Global practice of trade is of paramount importance and significance to all the citizens and the economic policy makers of a given country or economic bloc. However, this concept of global trade is widely misunderstood and miss conceptualized. The book understanding global trade by Elhanan Helpman provides a thorough and complete explanation of the issues that shape and define the global organization and mechanism of trade and the resulting trade flows. It reviews the process of development and evolution of the technical knowledge in the field of global trade right from the traditional, classical and conventional economists like Continue reading...