Adam Smith was known in his time as a philosopher but today he would be considered an economist. Smith's works changed economics forever. He spent much of his life attending school, teaching classes, or working on one of his books. His two works were "The Theory of Moral Sentiments"...

The most important objective for Australia is that we must generate wealth, but also to share it equally. If we become a society which is wealthy but very unfair, the gap between the rich and poor will grow to mammoth proportions. It is well established that an economic imbalance in society leads to...

WHAT IS ECONOMIC GROWTH? The government's objective of sustainable economic growth seeks to achieve consistent economic growth at around 4-4.5%; avoiding both the excessive growth likely to damage the goals of price stability and equity and also avoiding insufficient growth that is likely to...

There are many explanations for the difference in economic growth rate between Great Britain and fellow European countries Germany, France and Italy. If we look into the history of British politics we discover that a certain conservative party leader and British Prime Minster, Margaret Thatcher, had...

A military power during the 17th century, Sweden has not participated in any war in almost two centuries. An armed neutrality was preserved in both World Wars. Sweden's long-successful economic formula of a capitalist system interlarded with substantial welfare elements has recently been undermined...