World Economy Research Paper Example | Topics and Well Written Essays - 3000 words

World Economy - Research Paper ExampleThe industrial whirling had produced marked differences amongst developing and developed countries based on the extent of their overall production and growth. loosely speaking, the entire global economic literature has been studied under two broad headings namely macro or meso level. The former emphasizes on the role of transnational organizations. The later treats countries and firms as the building blocks of the global prudence and engages in their analysis (Baylis, smith & Owens, 2013). The main aim of this paper is to uncover two things. The first nonpareil is to discuss the general characteristics of the universe economy and the second one is to find the main factors which are obligated for the smooth function of the global economy.Most of the researchers who had considered world economy as their subject of research had pointed kayoed this topic is rather interdisciplinary and cannot be treated in isolation (Gereffi, 2005). Increasi ng trade between nations can be considered to be the first step of integration between nations. The origins of trading can be dated back to as early as the period of 15th century. It is this historical period of author of trade which had automatically rendered some nations stronger than the others. The capitalist system of production had become quite dominant in the 18th century and this has become the basic state of the world economy (Gereffi, 2005). Economists like Adam Smith had focused on the idea of division of labour and the way it fits into the capitalist regime of production. Different countries had begun to vary in different forms of economic activity and some of them were considered as industrial countries while others came to be know as agricultural countries. The period of 1940s was particularly very important in the history of the world economic development because this era had witnessed some of the most important changes that had occurred in