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|Posté le: Mar 20 Juin - 22:35 (2017) Sujet du message: The Open Market Economy: The Determinants Of Gross Domestic
The Open Market Economy, written by Yoon Wong Sin Wai, looks into the mechanism of the economic system of a country. It identifies and explains the factors that determine gross domestic product, unemployment and economic growth. The book is called ‘The Open Market Economy’ because the economic system it deals with is a market economy that trades with other countries. The economic systems of almost all the countries in the World to-day are market economies and they trade with other countries. This means that The Open Market Economy applies to the economies of almost all countries. Very often, a country is confronted with economic problems caused by a stagnant or declining economy, combined with an increasing level of unemployment. The economic theories developed so far are unable to explain these problems or to propose adequate solutions. The Keynesian theory was, at one time, considered a promising tool to combat depression and unemployment. However, the solution proposed by the Keynesian theory offers a short-term relief only. In the long run, it precipitates the economy into deeper trouble. The theory developed by the author of The Open Market Economy reflects more the reality of an economic system than any other theory. He adopts a new approach which combines macroeconomics and economic growth. The effects of changes are not analyzed by simply comparing the initial position of the economy with the final position. Instead, the trajectories of the key economic parameters of the economy are examined over a long period of time. The author would like to thank his son, Jonathan, for his contribution in digitally drawing the two models and the graphs. He also thanks his wife, Jocelaine, and his two other children, Jennifer and Jason, for their valuable support. It is hoped that readers will find the book useful and interesting.
bound: 224 pages
publisher: Independently published (April 2, 2017)
isbn: 1520964218, 978-1520964218,
weight: 1 pounds (