Economics Shapes the World

Economics is a way of life. Everyone wants a better life with more goods and services than they already have. To improve their living standard, people from the very first day of their existence have been searching for ways to increase the production of goods and services with their resources at hand. In their long journey from the stone-age to the modern age, people have indeed made tremendous achievements in every conceivable field.In the process, however, a few in the society became super-rich by expropriating more of the wealth for themselves and leaving others poor. The gap between the rich and poor grew so wide that currently, three of the wealthiest individuals own more assets than the poorest in the world and this process is continuing both in rich and poor countries. This article attempts to briefly outline the long progression of exploitation in society and its obvious fallout. For maintaining social coherence, developed, as well as developing countries, must find an equitable solution to this conundrum.Read Full Article