This paper examines the concept of hegemony and its historical impacts on the Arabic and Islamic countries. It is foreseen that has long path applied by the Western countries as disclosed by trade applications and history of economic thought. Impacts on Arabic and Islamic countries were visible...

None of the known macroeconomic theories are adequate to understand what to do in a global crisis like the 2020 Global Pandemic. Rational Expectations and monetarism cannot even ex-plain how is that a global crisis like this happens. The IS-LM model was designed to manage business cycles, but...

Since the launch of the European Economic and Monetary Union (EMU) in January 1999 till today in 2015, the Euro has ascended to become the second largest reference currency in the world. With about €1.6 trillion of currency in circulation it is at present even positioned above the US dollar...

Economic conflict resolution historically has been seen, by the main schools of economic thought, as the distribution of given, scarce resources. The neoclassical school argued that the distribution was efficiently solved by the price system, and the Marxist school argued that a revolution to...

The recent recession has brought a sharp decrease in income, output, and world trade, as well as an increase in unemployment in developed and underdeveloped countries. Experts such as Paul Krugman, Christina Romer, or Barry Eichengreen, compare the current situation with the Great Depression of...

One of the main achievements of Herbert A. Simon in organizational theory is analytically evaluating the psychology of individual and collective behavior thus opening the ground for further research D. Kahneman, and T. Schelling. This article provides an assessment of the contributions of...

Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a...

This article deals with a theoretical point: the alleged consistency of the Marxian notion of exploitation with the Sraffian theory of prices. The problem is examined in a historico-critical perspective. The discussion is centred on the idea that in a circular model of production with vertically...

In economics, we often hear the word price and its scope. In this case, the relation is how the value that becomes the transaction between the seller and the buyer is the replacement of the goods or services exchanged. The economy is one of the teachers in the country's life. The strength and...

This study is an attempt to analyze the impact of Edible Oil Deficit on Food Expenditure in Pakistan for the period 1971-2008. Edible oil deficit is one of the major concerns for the policy makers in Pakistan. Despite of having agriculture based economy; Pakistan is unable to fulfil her domestic...