10 Interesting Fact About The history and impact of economics on society

Transcript:

Languages:

• Economic history began since ancient times, where trade has become one of the main activities in human life.
• Adam Smith, a Scottish philosopher in the 18th century, is considered the father of modern economy because of his contribution in developing market economic theory.
• The economy has played an important role in the formation of political and social systems throughout the world, such as capitalism, socialism, and communism.
• Industrial Revolution in England in the 18th century brought major changes in the global economy, by introducing industrial machines and increasing mass production.
• Economic Theory Keynesianism, introduced by British economist John Maynard Keynes, has influenced economic policies throughout the world, especially during the great depression.
• The current global economy is very dependent on the free market and globalization, which allows trade and investment throughout the world.
• Environmental problems have become an important issue in the modern economy, with the concept of green economy and strategies to reduce the negative impact of industry on the environment.
• Technology innovation has played an important role in the development of modern economy, with the internet and information technology that allows access to the global market.
• Economic inequality becomes an increasingly important issue, with an increasingly greater income gap between rich and poor throughout the world.
• Economics also affects social policy, such as health, education, and social security, which affects the quality of life of the community as a whole.