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In game theory terms, the players of this game are a leader and a follower and they compete on quantity. The Stackelberg leader is sometimes referred to as the Market Leader. There are some further constraints upon the sustaining of a Stackelberg equilibrium. The leader must know ex ante that the follower observes its action. The follower must ...
The Commanding Heights: The Battle for the World Economy is a book by Daniel Yergin and Joseph Stanislaw first published as The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World in 1998. In 2002, it was adapted as a documentary of the same title and later released on DVD.
At the same time, Maddison showed them recovering lost ground from the 1950s, and documents the much faster rise of Japan and East Asia and the economic shrinkage of Russia in the 1990s. The book is a mass of statistical tables, mostly on a decade-by-decade basis, along with notes explaining the methods employed in arriving at particular figures.
The relationship between leader/follower is ancient and is referenced throughout history. [8] Examples of leader/follower partnerships are present in the great literatures and wisdom traditions of China such as the I Ching (1000-750 BC), India, and the aboriginal myths of Africa, Australia and the Native Peoples of North and South America. [8]
The flagship event of the World Economic Forum is the invitation-only annual meeting held at the end of January in Davos, Switzerland, bringing together chief executive officers from its 1,000 member companies, as well as selected politicians, representatives from academia, NGOs, religious leaders, and the media in an alpine environment.
The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
In the post-World War II period, states sacrificed globalization while embracing democracy at home and national autonomy. [7] The trilemma suggests that the backlash against globalization in the last few decades is rooted in a desire to reclaim democracy and national autonomy, even if it undermines economic integration. [7]
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.