This text should help businesspeople understand the global economic environment in which they must do business. The book covers the increasing convergence of world economic policy on three principles: an emphasis on market mechanisms rather than state intervention; the preeminence of stability as a goal for macroeconomic policy; and a preference for internationally-oriented policies, rather than protectionism. Within this framework, the book introduces a variety of critical issues, including labour, investment and interest rates; inflation and the role of central banks; the causes and consequences of business fluctuations; fiscal policy and budget deficits; the balance of payments; and exchange rates.
This text should help businesspeople understand the global economic environment in which they must do business. The book covers the increasing convergence of world economic policy on three principles: an emphasis on market mechanisms rather than state intervention; the preeminence of stability as a goal for macroeconomic policy; and a preference for internationally-oriented policies, rather than protectionism. Within this framework, the book introduces a variety of critical issues, including labour, investment and interest rates; inflation and the role of central banks; the causes and consequences of business fluctuations; fiscal policy and budget deficits; the balance of payments; and exchange rates.