Economics
In terms of the Global economy, the world community is seen by some economists as an inter-dependent system of goods and services with semi-permeable boundaries and flexible sets of import/export rules. Proponents of Globalization may tend to establish or impose more rigidity to this framework. Controversy has arisen as to whether this paradigm will strengthen or weaken the world as a community. See World Trade Organization
Read more about this topic: World Community
Famous quotes containing the word economics:
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)