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Sumerian civilization clay tablets

Wonderful history of Sumerian Civilization

Sumerian civilization originated in the Mesopotamian region between the Tigris and Euphrates rivers. And it is considered to be the first civilization of the ancient world. Sumerians made significant language, administration, and architecture advances throughout their culture and contributed much to the world. Story of the Sumerians Mesopotamia, or the fertile crescent, was first settled …

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Mesopotamian Civilization

Story of the Mesopotamian Civilization

The Mesopotamian Civilization is considered the first civilization of the world as modern humans understand it. The Mesopotamian region was ruled by a series of nations such as Sumerians, Akkadians, and Babylonians. This article aims to describe how the above nations ruled the Mesopotamian region.   Mesopotamian Civilization first civilizations established in the area called Mesopotamia. …

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Kautilya’s Arthashastra in Indian Economy

When considering Indian philosophical legacy, “Arthashastra” takes center stage. In his 1919 article “Politics as a Vocation,” Max Weber designated Arthashastra as a classic work of statecraft (Liebig, 2013). Arthashastra is thought to have been composed in the third century BC by Indian philosopher Kautilya (Chanakya), principal counselor to the Indian monarch Chandragupta. Political philosophy …

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Mercantilism theory of trade

History of Mercantilism theory of trade

Adam Smith is widely regarded as the father of economics.  However, prior to his time, history was filled with many economic thinkers and practices. Among those, mercantilism economic ideas dominated Europe until Adam Smith‘s publication of “Wealth of Nation” in 1776. What is Mercantilism? From the 16th through the 18th centuries, mercantilism was a popular economic philosophy and practice in Europe. This theory arose …

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comparative advantage trade theory

History of comparative advantage trade theory

The theory of comparative advantage is one of the most popular trade theories in the field of international economics. Why is comparative advantage more important for trade? David Ricardo first presented this theory in his book Principles of Political Economy and Taxation in 1817. It gave answers to some weaknesses of Adam Smith’s absolute advantage …

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