An Investigation Into How Natural Resources Shape The Economy
By Shilpa Ann Thomas In comparison to other academic disciplines, economics isn't known for being tolerant of changes to it’s "mainstream" core principles or theories. However, now, a huge shift in the economic perspective of the world is taking place, and it is likely to have far-reaching consequences for many years to come. Astonishingly, as this new doctrine does not have a particular individual or group associated with it like John Maynard Keynes with “Keynesian economics” or Karl Marx with “Marxism”, many people are still unaware that such a change is taking place. External influences and pressures, such as the desire for economics to be "relevant" to current policy challenges are driving this gradual change. So, what is this subtle, often unrecognized, but potentially profound shift in economic thinking? In simple terms, the age-old concept of the "economic system" has undergone an irreversible transformation. We no longer regard the produc...